HDFC Bank Credit Card Rule Change: Beginning on September 1, HDFC, the biggest private bank in India, plans to significantly alter its credit card policies. Customers of the bank have received these notifications via email. Based on the details provided by HDFC, the bank has updated the credit card loyalty program for specific cards. September 1, 2024, will mark the implementation of these new regulations.
New HDFC’s Rules Effective from September 1
- HDFC has informed its customers that the reward points earned on utility transactions will now be capped at 2,000 points per calendar month.
- In a similar way, reward points accrued from cable and telecom transactions have a monthly cap of 2,000 points.
- Furthermore, payments for education done using third-party apps like CRED, Cheq, MobiKwik, and others will not earn reward points.
Additional Charges on Transactions from August 1
Rent Payments to Become Costlier:
A 1% charge will be levied on all rental transactions made through third-party payment apps like CRED, Paytm, MobiKwik, and Freecharge.
Extra Charges on Fuel Transactions:
If an HDFC credit card is used for fuel transactions under ₹15,000, no extra charge will apply. However, for fuel transactions exceeding ₹15,000 in a single transaction, a 1% additional charge will be imposed.
Higher Charges on Education Transactions:
A 1% fee will be applied to education payments made through third-party apps like CRED, PhonePe, NoBroker, Cheq, etc. This fee is capped at ₹3,000 per transaction. Additionally, a 1% charge will be imposed on education payments made directly through college/school websites or via their platforms. However, no fee will be charged for payments made via POS (Point of Sale) machines.
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