Credit Card Rule Change: Major Banks Including SBI, HDFC Change Credit Card Rules For Customers, Know Details

New Credit Card Rules: As the year 2024 just started, some of the major Indian banks have decided to change their Credit Card policies, significantly impacting their customers. Banks including SBI, HDFC, Axis, and ICICI have changed the rules that will affect the awards and other benefits applied to Credit Cards. Let’s have a look at what’s changed.

SBI Credit Card New Rules

Beginning on January 1, 2024, cashback rewards on rent payments made with Paytm SBI Credit Card will no longer be offered. Furthermore, the 10X reward points that were previously earned for EazyDiner online purchases made with the SimplyCLICK or SimplyCLICK Advantage SBI Card will now only be 5X. Online purchases made on Apollo 24x7, BookMyShow, Cleartrip, Dominos, Myntra, Netmeds, and Yatra will be credited to the card. Nonetheless, 10X reward points will be added.

HDFC Bank Credit Card New Rules

The terms for the Regalia and Millennia credit cards are going to be updated by HDFC Bank. The HDFC Bank Regalia Credit Card must now be used to make purchases totaling at least Rs 1 lakh to be eligible for lounge access. Clients are limited to two lounge visits per quarter. However, using the HDFC Bank Millenia Credit Card will only qualify you for a credit card benefit if you spend Rs 1 lakh every quarter. Customers may only access the lounge once every three months with this card. 

Axis Bank Credit Card Rule Change

The annual fees, joining fees, and benefits of the Axis Bank Magnus Credit Card have been modified by Axis Bank. The Axis Bank Reserve Credit Card’s terms and conditions have also been updated by the bank.

ICICI Credit Card Rules

The terms regarding the use of airport lounges and reward points on ICICI Bank’s 21 major credit cards are being modified. The guidelines for rewards have also been changed along with this. The bank has also stated that starting on April 1, 2024, access to the lounge will be allowed only after spending Rs 35,000 within a calendar quarter.