New Delhi. If you use a credit card (Credit Card.), Then it is important for you to know and understand the new rules. Other major banks, including SBI and HDFC, have made major changes in the rules to credit cards, which will be applicable from different dates in July and August. Air Travel Accident Insurance Coverage of one crore rupees available with the most important credit card is being removed.

Under the new rules, banks have cut the facilities available with credit cards. Along with this, many types of fees have increased or have added a new charge on purchasing through credit cards. The rules to reward point have also been changed and a provision has been made to impose fees on spending after a limit. Under the new rules, the burden will increase on the pockets of people using credit cards.

HDFC new rules from July 1

– One percent fee will be charged for spending more than 50 thousand with a consumer card.
– Business card will levy one percent fee for monthly spending of more than 75 thousand.
– Reward point limit has also been determined.
-Third-party wallets like Paytm, Mobikwik, Freecharge, Ola Money will levy one per cent fee at more than Rs 10,000 monthly loading, which will be up to a maximum of 4999.
-One percent fees will now be charged on online skill-based gaming.
– Playing games on online platforms will levy one percent fee for spending more than Rs 10,000 per month.
– Wallet loading will also levy one percent fee.

Free air accident insurance discontinued on SBI, new rules from July 15
– One crore free air accident insurance given by SBI on premium credit cards like Elite, Miles Elite, Miles Prime.
– Insurance coverage of 50 lakhs received by customers on Prime and Pulse Credit Card will also be closed.
– Calculation of minimum amount payable has also been changed.
Now the bill will include GST, EMI, fees, finance charge, over limit amount and 2 percent of the remaining amount.
– The order of payment will also be changed. From July 15, the payment will be applicable in the order of GST, EMI, Fee, Finance Charge, Balance Transfer, Retail Expenditure and Cash Advanced.

Accident insurance will also be closed on these cards from August 11
UCO Bank SBI Card Elite, Central Bank of India SBI Card Elite, PSB SBI Card Elite, KVB SBI Card Elite, KVB SBI Signature Card and Allahabad Bank SBI Card Elite Card will be closed from August 11, on August 11.

The rest of the banks will soon change the rules

The impact of changes in the rules to credit cards by SBI and private sector major private sector bank HDFC will also be seen on other banks. The possibility is being expressed that the rest of the banks will soon change the rules to the credit card and remove some facilities, while there can also be a provision to impose additional fees.