HDFC Credit Card New Rules: According to a report, the number of credit card users has increased rapidly in the last few years. The country’s leading private and public credit card issuing banks have changed the rules related to credit cards.
Those who have changed the rules include SBI Card, ICICI Bank and Axis Bank. The changes made by all these have come into effect from January 2024. Whereas HDFC Bank has made the new rules effective from December 1, 2023. In such a situation, you should know about the new rules-
If you pay the fare by credit card, you may have to pay higher fees than before. According to the new rules, a charge of 1% will be levied on every fare payment. However, it will be maximum up to Rs 1500. Apart from this, if you do any kind of transaction using Indian currency abroad or make payment to an Indian shopkeeper registered abroad, then you will have to pay an additional fee of 1%. This rule is applicable from today i.e. 5th March 2024.
The method of calculation regarding minimum payment on SBI card is going to change. Till now the minimum payment was calculated as the sum of total GST, EMI amount, 100% of all charges and expenses incurred by you and 5% of advance. For example, if your GST is Rs 100, EMI is Rs 500, duty is Rs 200, expenses are Rs 1000 and finance charge is Rs 100, then the minimum payment amount will be Rs 950. But its rules are going to change from March 15.
The rules for free access to airport lounge with ICICI Bank credit card are changing. The new rule is coming into effect from April 1, 2024. According to this rule, if you have spent Rs 35,000 in the previous quarter i.e. (January-February-March 2024), you can use the free lounge once in the next quarter i.e. (April-May-June 2024). This simply means that if you want free access to the airport lounge from April to June 2024, then you will have to spend at least Rs 35,000 on the card between January to March 2024. This rule will be applicable on every quarterly basis.
HDFC Bank has changed the rules of Regalia and Millennia Credit Cards. The lounge access rules for Regalia Card have also been changed with effect from December 1, 2023. According to the new rules, the lounge access program will be based on credit card spending. You will get two lounge access vouchers if you spend more than Rs 1 lakh in a calendar quarter. Similarly, on spending Rs 1 lakh every quarter with HDFC Millennia Card, you will get one lounge access.
