SBI Cards: 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.
State Bank of India: If your account is in State Bank of India (SBI) or HDFC Bank (HDFC Bank) and you also have a credit card of the respective banks, then this news is useful for you. Yes, both the banks have changed the rules related to credit cards from January 1, 2023. 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 rental 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 another country and transact with a merchant based in India or in Indian currency. 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.
10X reward points on online spends
According to SBI, there has been a change in the reward points received on online shopping from the 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.
