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.