New Delhi:
Starting May 1, IDFC First Bank customers are in for an unpleasant surprise as utility bill payments, including electricity and water bills, via the bank’s credit cards will become more expensive.
The bank has announced a surcharge of 1% plus GST,
on payments exceeding Rs 20,000 within a single statement cycle through its credit cards.
Impact on Utility Bill Payments
IDFC First Bank’s decision is poised to significantly impact utility bill payments, encompassing transactions such as telecommunications, electricity, gas, internet services, cable services, and water bills.
However, exemptions apply to specific cards like the First Private Credit Card, LIC Classic Credit Card, and LIC Select Credit Card.
Changes in Airport Lounge Access Rules
Furthermore, adjustments have been made to the airport lounge access rules, affecting certain credit cards.
Notably, the number of free domestic lounge accesses has been reduced for select credit cards.
For instance,
the free domestic airport lounge access entitlement on the IDFC First Select Credit Card has been decreased from 4 to 2.
Similarly,
charges for the First Wealth Credit Card have been reduced from 4 to 2, with access granted twice for both domestic and international lounges.
