New Delhi:
HDFC Bank has announced changes to its credit card rules, which will impact crores of customers starting August 1, 2024.
These changes could lead to additional charges, so customers should plan their transactions carefully to avoid unnecessary costs.
Here are the details of the new rules:
New Charges on Various Transactions
Rental Transactions
Platforms: CRED, Cheq, MobiKwik, Freecharge, and similar services.
New Charges: 1% charge on the transaction amount, limited to ₹3,000 per transaction.
Fuel Transactions
Less than ₹15,000: No additional charges.
Above ₹15,000: 1% charge on the entire amount, limited to ₹3,000 per transaction.
Utility Transactions
Less than ₹50,000: No additional charges.
Above ₹50,000: 1% charge on the entire amount, limited to ₹3,000 per transaction.
Educational Transactions
Direct Payments: Payments made through college or school websites or their POS machines are charge-free.
Third Party Apps: 1% charge on transactions made via CRED, Cheq, MobiKwik, and other apps, limited to ₹3,000 per transaction.
International/Cross Currency Transactions
International Educational Payments: Exempt from this charge.
New Charge: 3.5% markup charge on all international or cross-currency transactions.
Other Charges
Late Payment Charges
Revised Charges: Based on the balance amount, ranging from ₹100 to ₹1,300.
EMI Processing Charges
New Charges: Up to ₹299 processing charge when availing the Easy-EMI option at online or offline stores.
Changes to Specific Credit Cards
Tata New Infinity and Tata New Plus Credit Cards
New Benefits: From August 1, 2024, users will earn 1.5% NewCoins on eligible UPI transactions made using the Tata New UPI ID.
