Air India SBI Platinum Credit Card

Quick verdict: A card caught mid-transformation — closed to new applications for an extended period, with the loyalty programme underneath it completely rebuilt (Flying Returns gone, Maharaja Club in) and a refreshed co-brand reportedly in development to replace it. For existing holders who fly Air India, a reasonable hold while the programme stabilises. For everyone else, the smart move is to wait for the new card.

The Air India SBI Platinum lets you earn India's flag-carrier currency on everyday spending — a genuinely appealing idea for anyone who flies Air India. But in 2026 the card sits in an awkward in-between state: it's been unavailable for new applications for an extended period, the loyalty programme underneath it has been completely rebuilt (Flying Returns is gone, Maharaja Club is in), and a new Maharaja Club co-brand is reportedly in development to replace it. This is a card in transition, and that transition is the whole story.

The loyalty-program upheaval

The single most important context: following the Vistara–Air India merger, Air India retired Flying Returns and launched Maharaja Club in November 2024 as its successor frequent-flyer programme. Maharaja Club runs four tiers (Red, Silver, Gold, Platinum) and uses Maharaja Points as its currency. Existing card rewards now flow into this new programme:

• 5 reward points per ₹100 on Air India tickets (booked through official channels).
• 2 reward points per ₹100 on daily spends.
• Points convert 1:1 into Maharaja Points via SBI Card.
• Maharaja Points expire 24 months from earning, with each paid Air India flight extending all your points

by another 24 months.

The upside: as Air India integrates into the Star Alliance and rebuilds, Maharaja Points could gain real redemption value and Star Alliance reach. The downside: award charts, transfer rules and service quality are all moving targets right now, which makes the card's future value genuinely uncertain.

The availability problem

You probably can't apply for this card anyway — it's been closed to new applications for a while, as SBI and Air India prepare a refreshed Maharaja Club co-brand built around earning points through everyday spending (groceries, dining, travel) rather than just flying. So for most readers, the practical takeaway is: this specific card isn't a live option, and the sensible move is to wait for the new Maharaja Club card and judge it on its actual terms when it launches.

For existing holders

If you already hold the Air India SBI Platinum, it remains usable — your earning continues, points flow to Maharaja Club, and the 24-month expiry (extendable by flying) is manageable if you fly Air India even occasionally. The honest stance is "hold and watch": keep earning, keep an eye on how Maharaja Club's award chart settles, and re-evaluate when the new co-brand and the programme's mature pricing become clear.

Who should hold it

As things stand, this card isn't really "for" new applicants — it's closed. For existing holders who fly Air India, it's a reasonable hold while the programme stabilises. Anyone wanting to earn Air India currency today should watch for the forthcoming Maharaja Club co-brand rather than chase this one.

It's the wrong card to seek out now (unavailable and mid-transformation), and a speculative hold at best — its value depends entirely on Air India executing its loyalty rebuild well.

The bottom line

The Air India SBI Platinum is a card caught mid-transformation. The idea — earning Air India's currency on daily spend, with Star Alliance redemption upside post-merger — is genuinely attractive, but the execution is in flux: Flying Returns has been replaced by the new Maharaja Club, the card has been closed to new applications for an extended period, and a refreshed co-brand is in the works. For existing holders who fly Air India, it's a reasonable hold while the programme finds its feet, with points expiring in 24 months unless you keep flying. For everyone else, the smart move is to wait — let Air India settle Maharaja Club's award charts and launch its new card, then judge that product on its merits. Promising in theory; too unsettled, and too unavailable, to recommend today.