Credit Card Rules : In December 2024, many big banks like Axis Bank, SBI, YES Bank and AU Small Finance Bank have changed the terms and conditions related to their credit cards. These changes will have a direct impact on the cardholders. Let us know about the major changes of these banks..
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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