HDFC Credit Card Alert! The use of credit cards is increasing rapidly since the Corona period. Customers are liking the credit card of HDFC, the largest bank in the private sector, the most. But, the bank has announced 5 major changes regarding its credit from July 1, which will have a direct impact on the pockets of the customers.
If we look at the guidelines issued by HDFC Bank, it is known that credit card users will be given fewer reward points on their expenses from July 1 and the fees have also been increased. No rewards will be given for using the card on many platforms, while there is also talk of imposing new fees for loading money in the wallet.
HDFC Bank has said that from July 1, higher fees will be charged for using the card on gaming platforms. If users use this card for more than Rs 10,000 in a month on platforms like Dream11, Rummy Culture, MPL and Junglee Games, then a levy of 1 percent will be imposed, which will not exceed Rs 4,999 in a month. The company will also not give any reward points on such transactions.
aIf a user uploads more than Rs 10,000 in a month on digital wallets such as PayTM, Mobikwik, Freecharge or Ola Money, then an additional fee of 1 percent will be charged on that excess amount. However, this fee will not exceed Rs 4,999 per month.
Users paying fare using HDFC credit card will also have to pay 1% more fee, which will not exceed Rs 4,999 per month. Similarly, those using the card to pay fuel will also have to pay an additional 1% fee if they spend more than Rs 15,000 to Rs 30,000, depending on the type of card. If the child’s fee is deposited through a third party app, then a 1% fee will also be charged on it.
HDFC Bank has also made a big change in the rewards available on the card. The company has said that up to Rs 10,000 rewards will be given per month on Infinia, Infinia Metal, while only Rs 5,000 reward will be given on Diners Black. Rewards of more than Rs 2,000 will not be given on all other types of credit cards. However, unlimited rewards will continue on cards like Marriott Bonvoy. Apart from this, rewards will be given on entry level cards like Millennia, Swiggy, Biz First based on their existing rules.
The biggest impact of these changes made by HDFC Bank will be on those users who mostly depend on credit cards for their expenses. Not only will they get less rewards due to this change, they will also have to pay more fees. Such users will now have to change their spending habits.
