SBI Card announced that accrual of reward points on government related transactions will be discontinued for some credit cards from July 1, as per its website.
Several banks made changes to credit card services offered to customers which include credit reward points, charges that will be discontinued, reward point benefits and devaluation of cards. Here are the important credit card related changes of banks that will come into effect in July:
SBI Card
SBI Card announced that accrual of reward points on government related transactions will be discontinued for some credit cards from July 1, as per its website.
ICICI Bank
ICICI Bank announced changes to various credit card services effective July 1 including revision of card replacement fee from ₹100 to ₹200 on all cards except Emerald Private Metal Credit Card. The credit card charges that will be discontinued include: Cheque / Cash pick-up fee, charge slip request, dial-a-draft – transaction fee, outstation cheque processing fee and duplicate statement request fee.
Citibank
Axis Bank said that Citibank credit card customers will be migrated. This is expected to be completed by July 15 while points accumulated till the migration date will remain never expiring.
HDFC Bank
HDFC Bank implemented new rates for credit card rent payments made via platforms such as CRED, Paytm, Cheq, MobiKwik, and Freecharge. Now, customers would be charged a 1% fee on rent transactions with a ceiling of ₹3,000 per transaction from August 1.
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