How to transfer reward points to bank account: HDFC Bank and State Bank of India have changed the reward point and rent payment policy received on the use of credit cards.
New Delhi: HDFC Bank and State Bank of India ( SBI ) have changed the reward point policy on the use of credit cards to provide more benefits and convenience to their customers. The fee rules on credit card rent payments have also been changed. Both the banks have implemented the new rules from January 1, 2023.
HDFC Bank Credit Card Rules
HDFC Bank has revised its credit card fee and reward point program with effect from 1 January 2023. Rent payment through third party merchant will have to pay a fee of 1% on the total amount. According to the bank, reward points will not be available on all cards for rent payment. Reward points will not be available on all cards except a few for government related transactions. Apart from this, reward points will not be available on education related transactions.
Hotel and ticket bookings with HDFC cards
According to HDFC Bank, if you transact (in-store or online) in Indian currency at an international location or with a merchant based in India but registered overseas, 1 per cent dynamic and Static conversion markup will be taken. HDFC Bank has changed the number of reward points for hotel and ticket booking.
Reward point on online shopping from SBI
SBI has changed the reward point rules on credit cards. According to SBI, there has been a change in the reward points received on online spending on Amazon.in. SBI Card will continue to offer 10X reward points on online spends at Apollo 24X7, BookMyShow, Cleartrip, EazyDiner, Lenskart and Netmeds.
SBI Credit Card Transaction Fee
SBI ( State Bank Of India ) has already revised the processing fee on credit card transactions from 15 November 2022. The bank has revised the processing fee on all merchant EMI transactions to Rs 199 + applicable taxes from Rs 99 + applicable taxes earlier. At the same time, a processing fee charge of Rs 99 + applicable tax has been revised and implemented on all types of fare payment transactions.
