HDFC Bank Credit Card Rules: HDFC Bank is going to make big changes in its credit card rules. These rules will come into effect from August 1, 2024.
HDFC Bank Credit Card Rules: There is big news for crores of credit card holders of HDFC Bank, the country’s largest bank. The bank is going to change the rules of its credit card. These will come into effect from August 1, 2024. If you also use HDFC’s credit card, then we are telling you about its new charges.
Changes are going to happen in these rules
1. If HDFC Bank credit card holders pay their rent through third party apps like Cred, Cheq, MobiKwik, Freecharge, then 1 percent charge will have to be paid as transaction fee. This charge can be up to a maximum of Rs 3,000 per transaction.
2. Apart from rent payment, the bank has also changed the fee for fuel transaction. Now customers will not have to pay any extra charge on fuel transactions of less than Rs 15,000. On the other hand, for a fee of more than Rs 15,000, you will have to pay 1 percent charge on the transaction, but the maximum limit of the charge can be up to Rs 3,000.
3. The bank has also made changes in the utility transaction charges. Customers will not have to pay any kind of service charge on utility bills up to Rs 50,000. On transactions of more than Rs 50,000, you will have to pay a fee of 1 percent per transaction, the limit of which can be up to Rs 3000.
4. Customers will have to pay 3.5 percent mark up charge on international currency transactions.
5. The bank will charge zero service charge on direct payment of school and college fees. On the other hand, on using third party apps like Cred, Cheq, MobiKwik, Freecharge, customers will have to pay a fee of 1 percent or maximum Rs 3,000 per transaction. Payments of international schools and colleges are not included in this.
5. If you miss making the credit card payment on time, then you will have to pay a fee ranging from Rs 100 to Rs 1300. The penalty amount will depend on the outstanding amount.
6. The bank has changed the EMI processing fee of its credit card. If you process EMI through HDFC credit card after shopping from a website, then you will have to pay a fee of Rs 299 as a processing charge for this. Along with this, customers will also have to pay GST in addition to these charges.
New rules will be implemented from August 1
HDFC Bank has informed on its official website that all the changes in the rules of credit card will be implemented from August 1, 2024.
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