Credit Card Rules : From December 1, 2024, major banks of India have made major changes in the policy related to credit cards. These changes have been implemented on charges, reward points and transaction terms.
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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