There is a change in the rules related to credit card, know the details immediately
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Credit Card: If you also use credit card, then this is very important news for you. included in the country’s big banks State Bank of India, ICICI, Axis Bank and Yes Bank are going to change the rules related to their credit cards. This is going to have a direct impact on your pocket. Earlier, HDFC Bank has implemented this change from December 2023. Let us know the complete details.
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sbi card
State Bank of India (State Bank of India) has modified its rate of interest calculation formula. This is going to come into effect from March 15. The minimum amount payable in the new rule (Minimum Amount to Pay) will include 100 percent of GST, EMI amount, charges or fees or finance charges along with retail expenses, cash advance and over limit amount. The new formula will be MAD = Total GST + EMI amount + 100 per cent fee/charge + higher (5 per cent or 100 per cent finance charge). Additionally, from April 1, reward points will not be available for fare payments for AURUM, SBI Card Elite, SimplyClick and many other SBI credit cards. This change will affect different categories of cards.
ICICI Bank Credit Card
ICICI Bank is offering lounge access at the airport to its credit card customers. For this, they will have to spend at least Rs 35 thousand through the card in three months. Its complete information can be obtained from ICICI website.
Axis Bank Credit Card
Axis Bank has introduced a new fee structure for credit card transactions. Now a surcharge of one percent will have to be paid on all rent transactions, which will be a maximum of Rs 1500. There is a Dynamic Currency Conversion (DCC) markup charge of 1% plus tax for international transactions involving Indian merchants or transactions in Indian currency abroad. Additionally, fares and wallet transactions will be excluded from the spending limits for milestone benefits and annual fee reversals. The bank has implemented this amendment from March 5.
yes bank credit card
Yes Bank will no longer offer free benefits to customers just for holding the Basic Credit Card. The bank has updated its domestic lounge access policy. Now the customer will have to spend at least Rs 10,000 from the card in a quarter. This amendment will be effective from April 1. Individuals who wish to avail lounge access in April/May/June 2024 will have to complete the required expenditure in the period December 21, 2023 to March 20, 2024. The policy change will affect customers with Yes Bank Elite, Yes BYOC, Yes Wellness Plus, Yes Marquee, Yes Select, Yes Reserve, Yes First Preferred and other credit cards.
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