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HDFC Bank’s new credit card rules to take effect from August 1 — late fee revised; rent, utility payments to cost more | Mint

Livemint

Livemint · 55y ago

HDFC Bank’s new credit card rules to take effect from August 1 — late fee revised; rent, utility payments to cost more | Mint

HDFC Bank, the largest private sector bank in India, will implement new terms and conditions for credit card users starting August 1, 2024. Notable changes include a 1% charge for rental transactions using third-party payment apps, a 1% charge on utility transactions over ₹50,000, a 1% charge on fuel transactions exceeding ₹15,000, and a 1% charge on educational transactions made through third-party apps. Additionally, there will be a 3.5% charge on international transactions, revised late payment fees, fees on reward redemptions, a 3.75% monthly finance charge for outstanding balances, and an EMI processing fee of up to ₹299.

Related News

HDFC Bank has revised terms for credit cards: Here are the key changes

Money Control

Money Control · 1y ago

HDFC Bank has revised terms for credit cards: Here are the key changes

HDFC Bank has revised its terms for credit cards, effective from August 1. The changes include introducing charges for rental and educational transactions made through third-party payment apps, charges for large utility bill payments, fuel transactions above a certain threshold, and redemption charges for reward points. The bank has also increased annual and renewal fees for certain credit cards and introduced processing fees for the Easy EMI payment option. Late payment fees have also been revised. One notable change is the levying of charges on third-party payments for education and rent.

ICICI Bank revises credit card perks, doubles minimum spend for lounge access to Rs 75,000

Money Control

Money Control · 8m ago

ICICI Bank revises credit card perks, doubles minimum spend for lounge access to Rs 75,000

ICICI Bank has made several changes to its credit card terms, including increasing the spending requirement for airport lounge access from Rs 35,000 to Rs 75,000. The bank has also introduced caps on rewards for utility, insurance, and grocery spending, and added charges for supplementary cardholders. Other changes include a revision to the fuel surcharge waiver policy, a revised spending threshold for annual fee reversal, discontinuation of spa facility access, and the introduction of fees for using third-party payment apps for educational and utility transactions.

Key financial changes in August: Tax deadline, faster cashless insurance approvals and new credit card rules

Money Control

Money Control · 10m ago

Key financial changes in August: Tax deadline, faster cashless insurance approvals and new credit card rules

In August, individual taxpayers who filed their returns in July need to verify their returns within 30 days of filing them online. Non-life insurance policyholders can expect cashless authorisation from insurance companies within one hour of request receipt. The Securities and Exchange Board of India (SEBI) has proposed a new risky asset class for mutual funds. HDFC Bank has revised terms on its credit card portfolio, including new fees and charges. Tata Neu Infinity HDFC Bank credit card users can earn NeuCoins on eligible UPI transactions. Shoppers are advised to spend smartly during the festive season, redeeming reward points and avoiding unnecessary purchases.

New rules for NSS, PPF, credit cards, insurance, share buyback tax structure and other financial changes that you must watch out for in October

Money Control

Money Control · 8m ago

New rules for NSS, PPF, credit cards, insurance, share buyback tax structure and other financial changes that you must watch out for in October

- Retail loan borrowers will benefit from key facts statements (KFS) issued by banks, providing clarity on loan costs. - New rules for post office small saving schemes are in effect from October 1. - HDFC Infinia credit card reward redemption rules have been tightened. - Health insurance policies issued before new regulations will have reduced waiting period and easier claims from October 1. - Special surrender values for endowment policies have been introduced. - Mutual fund unit repurchases will be exempted from 20% TDS starting from October 1.

PhonePe & HDFC Co-branded Credit Card: Inside the Benefits of the 'Ultimo' Variant

YourStory

YourStory · 21h ago

PhonePe & HDFC Co-branded Credit Card: Inside the Benefits of the 'Ultimo' Variant

HDFC Bank and PhonePe have launched the 'Ultimo' co-branded credit card, integrating UPI convenience with credit card benefits. Targeted at Indian users, the Ultimo card offers rewards on UPI transactions, with a 10% reward on PhonePe app spends and 5% on select online brands. The card comes with a ₹999 joining fee, offset by welcome offers and rewards. Additional perks include domestic lounge access and seamless card management via the PhonePe app.

Swiggy HDFC Bank Credit Card revises cashback structure: Here are the details

Money Control

Money Control · 1y ago

Swiggy HDFC Bank Credit Card revises cashback structure: Here are the details

Starting from June 21, Swiggy's HDFC Bank credit card has revised its cashback benefits. Instead of appearing as Swiggy Money on the app, the cashback earned will now be reflected in the credit card statement, reducing the amount that needs to be repaid. The credit card holders will still earn 10% cashback on the Swiggy app, 5% cashback on online spending, and 1% cashback on other categories. The cashback credited as Swiggy Money on the app will remain valid for one year for redemption.

Should you apply for the PNB-EaseMyTrip co-branded credit card?

Money Control

Money Control · 1y ago

Should you apply for the PNB-EaseMyTrip co-branded credit card?

Punjab National Bank (PNB) has partnered with EaseMyTrip to launch a co-branded travel credit card. The PNB EMT credit card offers various benefits such as a welcome gift voucher, discounts on flight and hotel bookings, airport lounge access, and more. While the card comes with an annual fee of INR 2,000, it offers benefits worth more than the joining fee. However, some critics argue that the card is overpriced compared to its rival, the Standard Chartered EaseMyTrip credit card, which offers similar benefits at a lower annual fee. Potential applicants should consider their travel patterns and annual card spend before applying.

Linking RuPay credit cards to UPI: What you need to know

Money Control

Money Control · 1y ago

Linking RuPay credit cards to UPI: What you need to know

Linking your credit card to UPI allows you to spend smaller amounts through your credit card. RBI allowed RuPay credit cards to be linked to UPI in June 2022, resulting in significant growth in the number of credit cards issued. HDFC MoneyBack Plus Credit Card, ICICI Coral credit card, SBI SimplySAVE credit are some popular credit cards that can be linked to UPI.

NPCI Planning Lower Interchange Fee To Boost Credit Use On UPI

Inc42 · 1y ago

NPCI Planning Lower Interchange Fee To Boost Credit Use On UPI

The National Payments Corporation of India (NPCI) is considering a lower interchange fee for credit lines on the Unified Payment Interface (UPI) in an effort to promote their adoption. The current interchange fee for credit card transactions is around 1.8%-2%, but the NPCI is exploring a fee ranging between 1%-1.2% for credit lines on UPI. Banks and fintech apps like Paytm and Google Pay are ready to offer credit lines on UPI, but are waiting for clarity on the interchange fee. The RBI approved credit lines on UPI in September 2020.

Trips from Bengaluru airport set to become dearer for Ola, Uber, BluSmart customers

Economic Times

Economic Times · 1y ago

Trips from Bengaluru airport set to become dearer for Ola, Uber, BluSmart customers

Passengers using app-based aggregators such as Ola, Uber, and BluSmart can expect a 30-40% increase in per ride pickup fee for taxi rides from Bengaluru airport. These platforms have agreements with Bengaluru International Airport Ltd (BIAL) that are up for renewal, and as part of these agreements, the airport operator receives a fee on every ride, which is then passed on to the passengers as an airport pickup fee. The revised fee is expected to take effect in a couple of weeks.

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