HDFC Bank’s credit cards are popular, but the bank is introducing significant changes to its reward program starting September 1.
Under the new rules, you’ll receive a maximum of 2,000 reward points per month for utility transactions.
Additionally, reward points will no longer be awarded for education payments.
This change follows a trend where many banks have adjusted their policies to restrict personal cards from being used for business and commercial transactions.
Several credit card rules were also updated starting August 1
Starting August 1, HDFC Bank has implemented several new rules for credit cards.
A 1% fee will now be charged on utility transactions exceeding ₹50,000.
For business cards, this limit has been increased to ₹75,000 per transaction. Insurance bills will not be classified as utility transactions.
Additionally, there is now a cap on the maximum reward points available per month.
Mobile and cable bills are limited to earning a maximum of 2,000 reward points each month.
Use of personal credit card in business transactions
The bank has reported that personal credit cards are often used for business transactions and to earn reward points by paying others’ bills.
This misuse also takes advantage of spending-based offers.
To address this, the bank has now imposed limits on reward points to prevent such misuse of credit cards.
You will not get any benefit on payment through third party apps like Cred
HDFC Bank has announced that no reward points will be granted for education payments made through third-party apps like CRED, PayTM, Cheq, and MobiKwik.
However, you will still earn reward points if you pay fees directly through the school or college website or POS machine.
Starting August 1, a 1% fee is now applied to transactions made through these third-party apps for fee payments.
Reward points were lost on these payments
You will not earn more than 2,000 reward points per month for utility payments, such as electricity and water bills.
Phone and cable TV recharges are also capped at 2,000 reward points per month.
Reward points will not be awarded for paying school and college fees through third-party apps like Cred.
Payments for school and college fees made using business cards like the BizBlack Metal Card and Biz Power will not earn reward points.
HDFC Bank has also introduced new rules for co-branded cards, such as Swiggy and Tata New, as well as premium cards like Infinia.
Redemption Limit also Update
Starting October 1, the redemption limit for Tanishq vouchers on the Infinia card will be capped at 50,000 reward points per quarter.
