Credit card rule changes that will come into effect in July: SBI Card, HDFC Bank, ICICI Bank, Citibank

SBI Card announced that accrual of reward points on government related transactions will be discontinued for some credit cards from July 1, as per its website.

Updated on: Jul 1, 2024, 13:35:31 IST

By HT News Desk

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Several banks made changes to credit card services offered to customers which include credit reward points, charges that will be discontinued, reward point benefits and devaluation of cards. Here are the important credit card related changes of banks that will come into effect in July:

Here are the important credit card related changes of banks that will come into effect in July

SBI Card

ICICI Bank

ICICI Bank announced changes to various credit card services effective July 1 including revision of card replacement fee from ₹100 to ₹200 on all cards except Emerald Private Metal Credit Card. The credit card charges that will be discontinued include: Cheque / Cash pick-up fee, charge slip request, dial-a-draft – transaction fee, outstation cheque processing fee and duplicate statement request fee.

Citibank

Axis Bank said that Citibank credit card customers will be migrated. This is expected to be completed by July 15 while points accumulated till the migration date will remain never expiring.

HDFC Bank

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HDFC Bank implemented new rates for credit card rent payments made via platforms such as CRED, Paytm, Cheq, MobiKwik, and Freecharge. Now, customers would be charged a 1% fee on rent transactions with a ceiling of ₹3,000 per transaction from August 1.

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HT News Desk
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