The country’s largest private bank, HDFC Bank, will be implementing many major changes to their credit card holders from July 1. These include changes in reward points policy in categories such as new charges, online gaming, wallet loading and insurance. If you are a HDFF credit card user, you have to pay attention to these things.
Fees on online gaming and wallet loading
Online skill-based gaming platforms like HDFC Bank, Rameen Culture, MPL or Wild Games will cost more than Rs. No reward points will be provided on these transactions and the maximum fee will be limited to Rs.
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Similarly, loading more than Rs. 5 in digital wallet (such as Paytm, Mobikwik, Freecharge or Ola Money) will also be charged 5%, which is a maximum of Rs.
Fee after the limit of payment of utility bills
If you pay utility bills with your HDCC credit card and your total monthly card costs are more than Rs. 5 (for personal card) or more than Rs.
These charges will also be limited to a maximum of Rs. Importantly, this fee will not apply to the insurance premium payment.
Rent, fuel and education payments: new limitations applied
HDFC has also changed the upper limit of fees for rent, fuel and educational transactions
Rent : The fee of 5% will continue as before, up to Rs.
Fuel : If the transaction is more than Rs. 5 or 5, only the fee will be applicable only if the card type).
Education : The fee will be applicable only if the payment is made by the school/college website or their POS system, but by the third-party apps.
Changes to Rewards Points for Insurance Transactions
Reward points will still be available on payment payment, but with some limitations:
Infinia, Infinia Metal : Points of up to Rs.
Dinners Black (and Metal), Biz Black Metal : Up to Rs.
Other cards : A limit of up to 5 rupees per month.
Cards such as Marriot Bonvoy will not have a limit on insurance costs, while some entry-level cards (Millenia, Swigi, Biz First, etc.) will continue their existing reward policies without any change.
Why is it important?
These changes can significantly affect cardholders who use credit cards for utility payment, wallet recharge and online gaming. To avoid surprises in the next statement, cardholders should re -evaluate their spending habits and reward points expectations.
If you are dependent on credit cards for big transactions or reward points, it is important for you to carefully understand these new rules.
