Fi Federal Co-Branded Credit Card Discontinued

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.

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.

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.

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.

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 above date if applicable—points expire around that time.
• Clear all outstanding credit card dues by the above date.
• Cancel or update recurring payments linked to the card.
• 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.