If you have this card, then know that now the ways of spending, getting rewards and using the benefits are going to change.

You will still get these benefits

You will continue to get 4 reward points for every Rs 150 spent. Apart from this, you will also get the benefit of free use of domestic airport lounge twice every quarter. Facilities like surcharge waiver on fuel and railway ticket booking will also continue.

Limit imposed on fuel expenses

Now you will get 1% surcharge discount only on fuel expenses ranging from Rs 500 to Rs 5000. You will also be able to get a maximum discount of up to Rs 3500 in a year.

New limit for earning reward points

Now, reward points will be available only on spending up to Rs 70,000 on education and insurance in one statement cycle. Points will be available only on spending up to Rs 50,000 on utility bills and Rs 40,000 on government expenses.

Points will no longer be available on these expenses

Adding money to the wallet, paying rent, buying fuel and spending on online games will no longer earn you any reward points. Also, these expenses will no longer be counted in the milestone benefit.

The value of reward points has decreased

Now the value of each reward point has been reduced from 25 paise to 20 paise. To redeem in cash, it will be necessary to have at least 2000 points.

Lounge access will now be linked to expenses

Now you will get free airport lounge access only if you spend at least Rs 75,000 in the previous quarter. Only then will you get this benefit in the next quarter.

Interest rates and new charges also added

Now the interest rate on the card has increased from 3.5% to 3.75% per month. Along with this, a 1% transaction fee will also be charged on many expenses – like adding money to the wallet, online gaming, government expenses of more than 10 thousand rupees, utility bills of more than 50 thousand and fuel expenses of more than 35 thousand.

Fees will be levied on education fees as well

If you pay school or college fees through a third party app (like PhonePe, CRED or Mobikwik), then 1% charge will be levied. But if you pay directly through the school’s website or machine, then this charge will not be levied.

If auto debit fails then you will have to pay a penalty

If the auto debit EMI of your card fails, then you will have to pay a penalty of 2% on the total outstanding amount. This charge can be a minimum of Rs 450 and a maximum of Rs 5000. So if you use this card, then plan your expenses keeping these new rules in mind.

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The post Credit Card Rule: Bank changed credit card rules, will be applicable from June 1 first appeared on Rightsofemployees.com.

IDFC First Bank: Milestone voucher ends

IDFC First Bank has alerted its Club Vistara IDFC First Credit Card holders. Milestone benefits will be discontinued after March 31, 2025. However, customers can earn Maharaja Points till March 31, 2026, until the card is completely closed.

Club Vistara Silver Membership will no longer be available. The free voucher, which included one premium economy ticket and one class upgrade voucher, will be discontinued. Milestone vouchers for premium economy tickets will also not be given. Those renewing the card after March 31, 2025 will have the annual charge waived for one year.

SBI Card: Ticket voucher will no longer be available

SBI Card has also announced changes in the Club Vistara SBI Credit Card and Club Vistara SBI PRIME Credit Card. From April 1, 2025, economy or premium economy ticket vouchers will not be available for these cards.

Club Vistara SBI Credit Card will now discontinue the milestone benefits on annual spend limits of Rs 1.25 lakh, Rs 2.5 lakh and Rs 5 lakh.

Premium economy ticket vouchers will not be available on Club Vistara SBI PRIME Credit Card. The annual charge for the base card will be Rs 1,499 and for the PRIME card it will be Rs 2,999, although the fee waiver option will be available. Club Vistara credit card holders will now have to plan their plans according to these changes as many key benefits will end from April 2025.

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The post Credit Card Rules: SBI and IDFC First Bank credit card rules will change from April 1, check details first appeared on Rightsofemployees.com.

It is very important for customers to be aware of these revisions so that they can avoid unnecessary charges. So that, they can get maximum benefit on credit card.

SBI Credit Card

SBI Card will now charge 1% on utility bill payments above Rs 50,000.

Many cards like SimplyCLICK, AURUM and Gold SBI cards will not earn reward points on payments made on digital gaming platforms.

Axis Bank Credit Card

From December 20, 2024, a charge of Rs 9 + 18% GST will be applicable on cash redemption and Rs 199 + 18% GST on mileage point transfer.

Transaction charges and interest rates on wallet load, fuel purchases and rent payments have been changed.

YES Bank Credit Card

The redemption policy of reward points has been changed.

There is a cap on reward points for hotel and flight bookings. Redemption limits are higher on YES Private and YES MARQUEE cards.

Free airport lounge access will cost more from April 1, 2025. For example, YES MARQUEE cardholders will have to spend Rs 1 lakh for six lounge visits and YES First Preferred cardholders will have to spend Rs 75,000 for two visits.

AU Small Finance Bank Credit Card

The terms and conditions for reward points on Ixigo AU credit card will be changed from 22nd December 2024.

Reward points will not be available on government services, education, rent payments and Bharat Bill Payment System (BBPS).

Reward points will not be available on foreign purchases due to the implementation of 0% FX markup on foreign transactions from 23 December 2024.

Reward points have also been capped on utility, insurance and telecom transactions. Insurance transactions will earn 1 point for every Rs 100 with a limit of 100 points.

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The post Credit Card Rules: Yes Bank, SBI and Axis Bank changed the rules of credit card, Check details first appeared on Rightsofemployees.com.

AU Small Finance Bank Credit Card Changes

• AU Small Finance Bank has made several changes related to reward points on Ixigo AU credit card. These changes will be effective from 22 December 2024.
• Reward points discontinued in some categories – Now reward points will not be available on educational, government, rent and BBPS transactions.
• Reward points on international spends discontinued – 0% forex markup will be applied on ixigo AU credit card from December 23, but reward points on international transactions will be discontinued.

Rewards on utility and insurance spends

1 reward point will be earned per ₹100 spent on utility, telecom and insurance spends. However, insurance spends will be limited to a maximum of 100 reward points per transaction.

• Axis Bank Credit Card Changes
• Airtel Axis Bank Card
• 25% cashback will continue on recharge or bill payment for active Airtel connection.
• Cashback will not be available on payments for new or inactive connections.

Charge

• Finance Charge: Monthly rate will increase from 3.6% to 3.75%.
• Cheque return or auto debit reversal charge: Minimum charge will be increased from ₹450 to ₹500.
• An additional charge of ₹100 will be applicable for non-payment of Minimum Amount Due (MAD).

SBI Credit Card Changes

• From 1st December 2024, SBI has implemented utility payment charges.
• If the total amount of utility payments in a billing cycle exceeds ₹50,000, a charge of 1% will be levied.
• Utility payments include mobile, telephone, electricity and insurance premium.

YES Bank Credit Card Changes

YES Bank has imposed capping on the usage of its rewards points.

MARQUEE CARDS:

A maximum of 3 lakh reward points or 70% of the total invoice, whichever is lower, can be used every month for flight and hotel bookings.

RESERV CARD:

A maximum of 2 Lakh reward points or 70% of the total invoice can be used.

Other cards:

• A maximum of 1 Lakh reward points or 70% of the total invoice can be used.
• According to YES Bank, the existing 50% limit on use of reward points for gift vouchers or statement credit will also remain applicable.

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The post Credit Card Rules: SBI, Axis, AU Small Finance and Yes Bank changed credit card rules, reduced benefits, check details first appeared on Rightsofemployees.com.

New Delhi. If you are a customer of Bank of Baroda and use a credit card for airport lounge access, then you need to be cautious. Actually, the government bank Bank of Baroda has given a big shock to its credit card (BoB Credit Card) users. Some changes have been made in the rules of credit card by Bank of Baroda. The new rules will come into effect from January 1, 2025.

From January 1, 2025, you will have to spend a certain amount with your Bank of Baroda credit card to get free lounge access at domestic airports in India. BoB credit cards will now have to spend Rs 20,000 to Rs 40,000 in the previous calendar quarter to get complimentary lounge access at domestic airports.

A quarterly discount on newly issued cards

According to bobcard’s website, in case of newly issued cards, the minimum spade criteria for lounge usage has been waived for the calendar quarter of card issuance. This discount is applicable only for new cards that are issued during the calendar quarter and is not applicable for upgrades from one card product to another.

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The post Credit Card Rules: Major Changes to Credit Card Rules by Bank of Baroda – All you need to know first appeared on Rightsofemployees.com.

Additional charge of 1% on utility bill payments

Now 1% surcharge will be levied on paying utility bills like electricity, water, gas through SBI credit card. This additional charge will be applicable only when the total payment amount in a billing cycle exceeds Rs 50,000. If the bill amount is less than Rs 50,000, then no additional charge will be levied.

Rewards on government transactions stopped

Now there will be no rewards on government transactions done with SBI cards. Due to this decision, consumers making government payments like tax or availing other government services will get less rewards, which can affect their savings.

Changes in fuel surcharge waiver

If a customer’s fuel expenditure is more than Rs 1,00,000 per month, he will not get a waiver on the surcharge. Due to this, customers with high fuel expenditure may have to bear additional expenses.

Change in ICICI Bank Credit Card rules

ICICI Bank has also made changes to its credit card rules, which will come into effect from November 15, 2024. The bank has cut down on airport lounge access, insurance benefits, and late payment fines. Also, there will no longer be any rewards on government transactions and the surcharge waiver will end if the fuel expenditure limit exceeds Rs 1,00,000 per month.

These changes are aimed at balancing the bank’s benefit schemes, but it may impact the spending and rewards earning of credit card holders.

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The post Credit Card: New update for SBI and ICICI customers, the bank has changed many rules first appeared on Rightsofemployees.com.

If you use credit card for transactions related to digital gaming platform/merchant then you need to be cautious. Actually, the country’s largest bank State Bank of India (SBI) has again given a big shock to its credit card users. Some changes have been made in the rules of credit card by SBI Card. The new rules will come into effect from December 1, 2024. Recently many more rules were changed by SBI.

According to the SBI Card website, from December 1, 2024, 48 of its credit cards will not offer reward points on transactions related to digital gaming platforms/merchants.

1. aurum
2. SBI Card ELITE
3. SBI Card ELITE Advantage
4. SBI Card Pulse
5. SBI Card
6. SimplyCLICK Advantage SBI Card
7. SBI Card PRIME
8. SBI Card PRIME Advantage
9. SBI Platinum Card
10. SBI Card PRIME Pro
11. SBI Card Platinum Advantage
12. SBI Gold Card
13. SBI Gold Classic Card
14. SBI Gold Defense Card
15. SBI Gold & More Employee Card
16. Gold & More Advantage SBI Card
17. SBI Gold & More Card
18. SBI Card
19. SBI Employee Card
20. SimplySAVE Advantage SBI Card
21. SBI Gold & More Titanium Card
22. SimplySAVE Pro SBI Card
23. SBI Credit Card
24. SimplySAVE Merchant SBI Card
25. SBI Card
26. SBI Platinum Card
27. SIB SBI SimplySAVE Card
28. KVB SBI Platinum Card
29. KVB SBI Gold & More Card
30. KVB SBI Signature Card
31. Karnataka Bank SBI Platinum Card
32. Karnataka Bank SBI SimplySAVE Card
33. Karnataka Bank SBI Card PRIME
34. Allahabad Bank SBI Card ELITE
35. Allahabad Bank SBI Card PRIME
36. Allahabad Bank SBI SimplySAVE Card
37. City Union Bank SBI Card PRIME
38. City Union Bank SimplySAVE SBI Card
39. SBI Card ELITE
40. SBI Card PRIME
41. Central Bank SimplySAVE SBI card
42. UCO Bank SBI Card PRIME
43. UCO Bank SimplySAVE SBI Card
44. UCO Bank SBI Card ELITE
45. SBI Card ELITE
46. PSB SBI Card PRIME
47. SBI SimplySAVE
48. SHAURYA SELECT SBI CARD

Apart from this, recently SBI has announced changes in the rules given below, which will be effective from November 1, 2024.

SBI will charge surcharge on payment of utility bills above Rs 50,000 .

1% extra charge will be levied on utility bill payment of more than Rs 50,000 in a statement cycle through SBI credit card. However, no extra charge will be levied on utility bill payment below Rs 50,000. These rules will be effective from November 1, 2024.

Changes in finance charges

SBI has also changed the finance charges of all unsecured credit cards except Shaurya/Defense credit cards. Now 3.75% finance charge will be levied on SBI’s unsecured credit cards. These rules will also be applicable from November 1, 2024.

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The post Credit Card Rules: SBI changed the rules of credit card, these rules will be applicable from December 1 – Check here first appeared on Rightsofemployees.com.

From October 1, 2024, the bank is going to make some big changes in the rules of credit card. Some important changes have been made in the loyalty program of select credit cards of HDFC and they will be implemented from October 1, 2024. All the customers using HDFC credit card have also been informed by the bank by sending mail in this regard.

Will anything change?

Under the new rules, if customers buy any Apple product using the ‘Smartbuy’ platform, then now they can get rewards for the purchase of this product only once in 3 months. Also, from October 1, 2024, you can now get reward points only once on a quarterly basis for shopping from Tanishq. Keep in mind that these changes will be applicable only on HDFC Bank’s Infinia and Infinia Metal Credit Cards.

There have been changes before

Let us tell you that on 1 September 2024, necessary changes were made in the rules of credit card by HDFC Bank. After these changes, a maximum of 2000 reward points could be obtained in a month for doing utility transactions through HDFC Bank credit card. Not only this, if you use HDFC Bank credit card to pay the bill of a telecom company, then a maximum of 2000 reward points can be obtained for this in a month. Also, no reward will be received on education payments made with the help of third party apps like CRED, Mobikwik.

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The post Credit Card Rules: HDFC Bank is going to change these credit card rules from October 1 – Check Details first appeared on Rightsofemployees.com.

1. Commercial LPG cylinder became expensive

From September 1, 2024, oil marketing companies have increased the price of 19 kg commercial gas cylinder by Rs 39. Now this cylinder will be available in Delhi for Rs 1,691, in Kolkata for Rs 1,802, in Mumbai for Rs 1,644, and in Chennai for Rs 1,855. However, there has been no change in the price of 14.2 kg domestic cylinder. Due to this, the gas cylinder used in restaurants, hotels, and other commercial works will become slightly expensive.

2. Aadhar Card Free Update

The opportunity to update information in Aadhaar card for free has now been extended till 14 September 2024. UIDAI has appealed to the people to keep their identity and address documents correct and update them from time to time. By taking advantage of this facility, you can update your Aadhaar card online without any charge.

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3. Strictness on unwanted calls

Strictness will be imposed on fraudulent calls and messages from September 1, 2024. Telemarketing companies will have to shift to a new blockchain-based system by September 30. This will reduce the number of spam calls and improve the security of users. This move will help protect consumers from fraud.

4. New rules for credit cards

Changes have also been made in the rules of credit cards from September. HDFC Bank has set a limit on the reward points available on utility bills. IDFC First Bank has also changed the rules for credit card payments. This will affect the customers using credit cards. Therefore, it is important that you plan your expenses keeping these new rules in mind and use the card wisely.

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The post New rules implemented from September 1, cylinder became expensive, credit card rules changed first appeared on Rightsofemployees.com.

There are going to be changes in these rules

1. HDFC Bank credit card holders will have to pay 1% charge as transaction fee if they pay their rent through third party apps like Cred, Cheq, MobiKwik, Freecharge. This charge can be up to a maximum of Rs 3,000 per transaction.

2. Apart from rent payment, the bank has also changed the charges for fuel transactions. Now customers will not have to pay any extra charge on fuel transactions less than Rs 15,000. On the other hand, for a fee of more than Rs 15,000, you will have to pay 1 percent charge on the transaction, but the maximum limit of the fee can be up to Rs 3,000.

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3. The bank has also made changes in the utility transaction charges. Customers will not have to pay any service charge on utility bills up to Rs 50,000. On transactions above Rs 50,000, you will have to pay a fee of 1% per transaction, the limit of which can be up to Rs 3000.

4. Customers will have to pay 3.5% mark up charge on international currency transactions.

5. The bank will charge zero service charge on direct payment of school and college fees. On the other hand, on using third party apps like Cred, Cheq, MobiKwik, Freecharge, customers will have to pay a fee of 1 percent per transaction or up to a maximum of Rs 3,000. Payments to international schools and colleges are not included in this.

5. If you fail to make the credit card payment on time, you will have to pay a penalty ranging from Rs 100 to Rs 1300. The penalty amount will depend on the outstanding amount.

6. The bank has changed the EMI processing fee of its credit card. If you process EMI through HDFC credit card after shopping from any website, then you will have to pay a fee of Rs 299 as processing charge for this. Along with this, customers will also have to pay GST in addition to these charges.

New rules will come into effect from August 1

HDFC Bank has informed on its official website that all the changes in the credit card rules will be implemented from August 1, 2024.

The post HDFC Bank new credit card rules will be effective from august 1st- 2024, Know details of changes first appeared on Rightsofemployees.com.

HDFC Bank has changed the rules of Regalia and Millennia Credit Cards. The rules for lounge access for Regalia cards have been changed from December 1, 2023. According to the new rules, the lounge access program will be based on credit card spending. You will get two lounge access vouchers if you spend more than Rs 1 lakh in a calendar quarter. Similarly, on spending Rs 1 lakh every quarter with HDFC Millennia Card, you will get a lounge access.

As per SBI Card, cashback for fare payment transactions on your Paytm SBI Credit Card has been discontinued from January 1, 2024. From November 1, 2023, the 10X reward points for EasyDiner online purchases on SimplyClick/SimplyClick Advantage SBI Card will now be 5X reward points. 10X reward points will be added to your card for online purchases made on Apollo 24×7, Bookmyshow, Cleartrip, Dominos, Myntra, Netmades and Yatra.

Axis Bank has also made some important changes for credit card holders. Axis Bank has made changes in the annual fee and joining gift of Magnus Credit Card. The bank has also made changes in the terms and conditions of Axis Bank Reserve Credit Card.

ICICI Bank is soon going to implement changes in the rules related to airport lounge access and reward points of cards for credit card holders. According to the ICICI Bank website, from April 1, 2024, you can avail airport lounge access by spending Rs 35,000 in the previous calendar quarter. Spending in the previous calendar quarter will unlock access for the next calendar quarter.

The post Credit Card Rules: HDFC-SBI-ICICI changed credit card rules, know the new rules before swapping first appeared on Rightsofemployees.com.

Network means that card is either Visa Card, Mastercard or RuPay Card. When you are given a debit card or credit card from the bank, then as a customer you are not given the option to choose the desired network. You have to use the same card of the network that the bank gives you.

RBI’s draft proposal on debit and credit cards

RBI said that it is observed that the existing arrangement between card networks and card issuers (banks and non-banks) does not give the option to the customers to change the network of their cards. But after this circular of RBI, this option will now be given to the users, which will benefit them a lot.

According to RBI’s draft proposal, card issuers shall not enter into any arrangement or agreement with a card network that prevents them from availing the services of other card networks. Card issuers will now have to issue cards on more than one card network. Issuers will provide their customers with an option to choose from a number of card networks. This option can be exercised by the customer at the time of card issuance or any time thereafter.

What is card network portability?

You all are aware of mobile number portability. When you are not happy with your telecom provider, then you port your mobile number with another service provider. The Reserve Bank of India is now going to start a similar facility in the case of credit and debit cards. Through card network portability, customers will be able to transfer their card account from one network to another.

Card network portability allows the cardholder to retain his existing card account, balance and credit history while switching to another payment network.

On this, the central bank has sought comments from the stakeholders on the draft circular till August 4. This draft is very beneficial for the customers, it provides them the right to decide and portability, but due to this banks may face operational challenges and increased cost.

The post New debit-credit card rules: Know how you will benefit from RBI’s proposal first appeared on Rightsofemployees.com.

Under this, the objective is to provide more benefits and facilities to the customers than before. A change has been made in the reward point policy available on using the credit card.

Change in the rule of rent fee: In the past, a change has also been made in the rule of fee for paying rent through credit card. Both the banks have implemented the new rules from January 1, 2023. First we give you information related to the new rules of HDFC Bank. Changes have been made in the credit card fees and reward point program from the bank. 1 percent of the total amount will have to be paid on rent payment through third party merchant. According to the bank, reward points will not be available on all cards for rent payment. Reward points will not be available on education related transactions.

Changed in reward point system with

HDFC card if you go to any other country and do transaction in Indian currency from any merchant located in India. But if he is registered abroad, then one percent dynamic and static conversion markup will be taken. HDFC has changed the reward point system on hotel and ticket booking. The reward point system available on credit cards has also been changed by SBI.

10 times reward point on online spending

According to SBI (SBI), there has been a change in the reward point received on online shopping from e-commerce website. SBI will continue to offer 10X reward points on online spends at BookMyShow, Cleartrip, Apollo 24X7, EazyDiner, Lenskart and Netmeds from the card side. The processing fee charge has already been revised by SBI from 15 November 2022. Apart from this, the processing fee on all merchant EMIs has been reduced to Rs 199 + taxes. This charge was earlier Rs 99 + taxes.

The post Credit Card Rules Change 2023: SBI and HDFC Bank changed the rules for crores of customers, if not known then there will be loss first appeared on Rightsofemployees.com.

NPS partial withdrawal

After easing the Corona epidemic, PFRDA issued a new order regarding this, according to which customers of all government sector customers (Central, State and Central Autonomous Bodies) will now have to submit their application for partial withdrawal (NPS Partial Withdrawal) to their nodal officer. Must be deposited with Explain that in January 2021, the pension regulator PFRDA had allowed NPS subscribers to submit online applications for partial withdrawals with the help of self-declaration.

New Bank Locker rules

A new guideline related to bank locker has been issued by the Reserve Bank of India (RBI). The new rules will come into effect from January 1, 2023. Under this, banks will no longer be able to do arbitrariness with customers on the issue of lockers.

According to the new rule, if there is any damage to the goods kept in the bank locker, then the bank will be responsible for it. For this, an agreement will be signed between the bank and the customer, which will be valid till December 31. Banks will have to give all the information to the customers through SMS and other means about the change in the rules related to the locker.

Changes in Credit Card Rules

From January 1, 2023, there is a change in the reward points received on payment through credit card. From the beginning of the new year, HDFC Bank will change the reward points received on payment from its credit card. In such a situation, customers have been advised to pay all the remaining reward points in their credit cards before December 31, 2022. Because from January 1, 2023, under the new rules, the facilities of reward points will be given.

Changes in CNG-PNG Price

With the change in the prices of petrol and diesel from January 1 in the new year, there may also be a change in the prices of CNG and PNG gas used in the kitchen of homes. During the last one year, there has been an increase of more than 70 percent in the prices of CNG in the national capital and its surrounding areas. On the other hand, since August 2021, 10 hikes have been recorded in PNG rates.

GST related rules will change

There will also be important changes in the rules related to GST e-invoicing and electronic bill. The government has reduced the threshold limit for GST e-invoicing from Rs 20 crore to Rs 5 crore. In such a situation, it will now be necessary for traders whose turnover is five crore rupees or more to generate electronic bills.

AADHAAR AND PAN CARD LINK

The IT department has issued an advisory saying that the PAN (Permanent Account Number) which is not linked to Aadhaar by the end of March next year will be deactivated. This change will be applicable from the first date of April instead of January.

The post New Year 2023: From January 1, the rules from kitchen, car to bank locker will change, check the complete list first appeared on Rightsofemployees.com.