Credit Card Rules Changed by SBI, HDFC, and Other Banks From July 1: What You Should Know Before Use

In July, several major banks in India, including State Bank of India (SBI), ICICI Bank, HDFC Bank, and Citibank Credit Card, have announced updates to their credit card policies, slated to take effect from July 1, 2024. State Bank of India (SBI) has communicated to millions of its customers regarding the suspension of reward points for government transactions on specific credit cards starting July 1, 2024. The affected cards include:

• Air India SBI Platinum Card
• Air India SBI Signature Card
• Central SBI Select+ Card
• Chennai Metro SBI Card
• Club Vistara SBI Card
• Club Vistara SBI Card Prime
• Delhi Metro SBI Card
• Etihad Guest SBI Card
• Etihad Guest SBI Premier Card
• FabIndia SBI Card
• FabIndia SBI Card Select
• IRCTC SBI Card
• IRCTC SBI Card Premier
• Mumbai Metro SBI Card
• Nature Basket SBI Card
• Nature Basket SBI Card Elite
• Ola Money SBI Card
• Paytm SBI Card
• Reliance SBI Card
• Reliance SBI Card Prime
• SBI Travel Card

ICICI Bank Credit Card Rule Changes Effective July 1, 2024

ICICI Bank has announced revisions to several credit card policies, set to be implemented from July 1, 2024. Among these changes, the card replacement fee for all cards except the Emerald Private Metal Credit Card will be raised from Rs 100 to Rs 200.

Citibank Credit Card Migration to Axis Bank

Axis Bank has informed Citibank credit card customers about the upcoming migration process, which includes all types of credit card accounts. The transition is scheduled to be finalized by July 15, 2024. In an email to Citibank credit card holders, Axis Bank assured that all migrations, including card transitions, will be completed by the specified date. Following the migration, Citibank-branded cards will continue to function seamlessly until customers receive their new Axis Bank cards by the end of the year. Notably, points accrued up to the migration date will retain their validity indefinitely. However, points earned post-migration will expire after three years, according to the communication.

HDFC Credit Card: New Rent Payment Rates Effective August 1, 2024

HDFC Bank Limited has announced revised rates for rent payments made via credit cards through platforms such as CRED, Paytm, Cheque, MobiKwik, and Freecharge. These new rates are set to be implemented from August 1, 2024.