Federal Bank has discontinued its co-branded credit card program with Fi Brand Pvt Ltd. Existing cards, rewards, and benefits were ceased on 20 March 2026. Before you settle into the replacement card, read what happened to it: Scapia Federal doubled its lounge access threshold to Rs 20,000 a month and cut rewards on utilities and insurance.

Federal Bank has since gone the other way — it is absorbing Standard Chartered's Indian credit card portfolio from 31 July 2026.

TL;DR: Full Details

• All card benefits, including reward points stopped from 20 March 2026; reward points will cease as of the above date.
• Outstanding dues must be cleared by the above date.
• Users should kindly redeem any available reward points before they expire; all available reward points must be redeemed before the mentioned timeline, as reward points will cease after the above date.
• Recurring payments/standing instructions tied to the card should be updated
• After discontinuation, existing credit cards will be replaced with the Federal Scapia Credit Card. EMIs and any outstanding balances will be migrated automatically.
• If users do not wish to receive the replacement Scapia card, they must opt out via SMS: GETCARD SCNO sent to 9008915353 before 24 April 2026.

What This Means for FI Card users?

Users are urged to plan accordingly: redeem rewards before the said date, clear dues, and update payment details.

Official Communications & Sources

• An official communication was sent to customers via email and SMS, notifying them: “Your SimpliFi Federal Fi Credit Card will be discontinued from 20 March 2026. Card usage, benefits (rewards & offers) will continue till this date.” This direct communication from the bank ensured all cardholders were informed about the discontinuation, and the bank will continue to communicate any next steps regarding the transition or alternative offerings as the closure date approaches.
• As per Fi’s website: they are not accepting new credit card applications.
• Federal Bank’s FAQ addresses co-branded card issuance charges and related PPOS in past terms & conditions.

Background & Regulatory Context

The Reserve Bank of India (RBI) has tightened guidelines on co-branded credit cards, specifically restricting partner access to transaction data and enforcing stricter compliance requirements.

As a result, the RBI has directed both Federal Bank and South Indian Bank to stop issuing co-branded credit cards due to deficiencies in adherence to these regulatory guidelines. Federal Bank announced that it will not onboard any new customers for its co-branded credit cards until it fully complies with the RBI's requirements.

Fi was not the only one caught by this. The RBI's action against OneCard came out of the same tightening of co-branded and outsourced card operations.

These regulatory changes are expected to negatively impact fee-based income for issuers, particularly affecting mid-size private banks and select non-banking financial companies (NBFCs). South Indian Bank, like Federal Bank, has halted new co-branded credit card issuance while continuing to service existing customers, citing the need to address regulatory compliance issues.

Meanwhile, Fi is transitioning toward a B2B AI-led business model and has partnered with AU Small Finance Bank for new credit offerings.

In 2025, after ensuring compliance, Federal Bank resumed co-branded card issuance with fintech partner Scapia. Still, the discontinuation of the Federal-Fi program appears part of a broader business realignment.

A shutdown is the extreme end of a wider pattern — here is every major Indian credit card devaluation in 2026, and how to read the next one before it lands.

Replacement Credit Card Program

Federal Bank is not just pulling the rug out; they genuinely want to make sure you're taken care of during this transition. And honestly, that's the kind of thing that matters when you're dealing with your money and your daily spending needs.

Here's what's actually happening: they're bringing in a new Replacement Credit Card Program, transitioning existing users to Scapia, that's going to give you the similar practical benefits you've been using: your reward points, secure payments, all that good stuff that actually makes sense for your spending patterns. The Scapia line has also been expanded since — including an add-on card for family members.

If Scapia is now your card by default rather than by choice, here is what actual Scapia users on Reddit say about living with it.

What’s Next: Action for Cardholders?

Note: Please take note that all actions below must be completed before the above date to avoid any inconvenience.

• Redeem any reward points before the date — losing them is one reason to choose cashback over points.
• Clear all outstanding credit card dues by the above date.
• Cancel or update recurring payments linked to the card (these are the cards worth putting utility bills on).
• Choose whether to receive the replacement Scapia card or opt out by 24 April 2026 via SMS.
• Download statements, check eligible rewards while still accessible.

FAQs about Fi Federal Card Discontinuation

Why was the Fi Federal credit card discontinued?

Federal Bank ended its co-branded partnership with Fi Brand Pvt Ltd as part of a business realignment that followed the RBI tightening its co-branding rules. The RBI restricted partner access to transaction data and directed Federal Bank and South Indian Bank to stop issuing co-branded cards until they were fully compliant. Fi has since pivoted to a B2B, AI-led model and partnered with AU Small Finance Bank, while Federal Bank continued co-branding through Scapia.

When did the Fi Federal credit card stop working?

All card usage, reward points and benefits stopped on 20 March 2026. Outstanding dues had to be cleared by the same date, and any unredeemed reward points expired on that date.

What happened to my Fi credit card reward points?

Reward points ceased on 20 March 2026 and were not carried over to the replacement card. Anything left unredeemed lapsed. Points on a co-branded card are a promise, not property — which is why redeeming early is always the safer move once a shutdown or devaluation is announced.

Will I automatically get the Federal Scapia Credit Card?

Yes. Federal Bank replaced existing Fi cards with the Federal Scapia Credit Card by default, and outstanding balances and running EMIs were migrated automatically. Cardholders who did not want the replacement had to opt out.

How do I opt out of the replacement Scapia card?

Send an SMS reading GETCARD SCNO to 9008915353 before 24 April 2026. After that window closed, the replacement card was issued by default.

If you opted out of the Scapia replacement, pick by what you actually used the Fi card for: a lifetime free card if you kept it only because it cost nothing, a cashback card if it was your everyday spends card, or a travel card if the forex and lounge benefits were the point.

And if the replacement card comes with a fee or a spend condition the Fi card never had, here is how fee waivers actually work in India before you decide to keep it.

What happens to my outstanding balance and EMIs on the Fi card?

Balances and active EMI plans transferred automatically to the replacement Federal Scapia card. The debt does not disappear when a programme shuts down — you keep servicing it on the new card, and you need to update any standing instructions or auto-debit mandates tied to the old card number.

Does the Fi card discontinuation hurt my CIBIL score?

Because the account was replaced rather than simply closed, the credit line and account history generally carried over, so the direct impact was limited. The real risk is behavioural: a missed payment because a standing instruction failed on the old card number, or a jump in credit utilisation if you opted out and lost that limit without a replacement. Losing a credit line changes your utilisation ratio — here is exactly how that flows into your CIBIL score.

What happened to my Fi savings account?

The savings and debit relationship moved to Federal Bank directly. You now manage it through Federal Bank FedMobile and net banking instead of the Fi app.

Is Fi Money shutting down completely?

No. Fi stopped accepting new credit card applications and wound down the Federal Bank co-branded card, but the company is moving to a B2B, AI-led business model and has partnered with AU Small Finance Bank for new credit offerings.

What are good alternatives to the Fi Federal credit card?

It depends on what you actually used it for. Everyday cashback — a no-frills cashback card. Travel and zero forex markup — the replacement Scapia still covers that, though its lounge threshold has doubled to Rs 20,000 a month. If you only kept it because it was free, a lifetime free card with no spend condition is the cleaner swap.