Credit Card Rules: The month of May is about to end. There are going to be changes in many rules related to credit cards in the month of June. Some banks and card issuers have made changes in the rules related to their credit cards. If you use a credit card then it is important for you to be aware of these rules.
New Delhi: If you use credit card then this news is useful for you. The month of May is about to end. There are going to be changes in the rules of many credit cards in the next month i.e. June. This will have a direct impact on credit card users. Some banks and card issuers have made changes to the charges, fees and rules related to their credit cards. It is important for credit card holders to be aware of these changes, so that they can follow the new charges and rules of the bank or card company. Major banks that have changed their credit card rules this month include Bank of Baroda, Yes Bank, IDBI Bank and HDFC Bank. Let us tell you which credit card rules are changing.
BOB Card One
Bank of Baroda has increased the interest rate and late payment fees on its BOBCARD One co-branded credit card. These increased rates will be effective from June 26, 2024. This information is given on the website. According to the information, if the users make full payment of the outstanding amount by the due date, then no fee will be charged from them. Some charges will be levied on delay in payment or usage of the card beyond the limit.
Swiggy HDFC Bank Credit Card
According to media reports, Swiggy HDFC Bank Credit Card, which is one of the most popular credit cards of HDFC Bank, is now offering better cashback. This is happening at a time when many card issuers are reducing the benefits and features associated with credit cards. According to the information, these changes will be effective from June 21, 2024. In this, new cashback rules will be applicable in Swiggy HDFC Bank Credit Card. Cashback earned will no longer be reflected as Swiggy Money in the Swiggy app, but from June 21, it will be reflected in the credit card account and will reduce the next month’s statement balance.
Yes bank
Yes Bank has revised various aspects of all its credit cards, except the ‘Private’ credit card type. These changes only affect fuel fee categories on certain credit card types of the bank. These changes relate to the calculation of expenditure levels for exemption of annual and joining fees. There has also been a change in the terms of extra fees for utility transactions.
IDFC First Bank
According to IDFC First Bank, when the total amount of utility bill payment through credit card exceeds Rs 20,000, an additional charge of 1 percent + GST will be levied. However, this utility charge will not be applicable on FIRST Private Credit Card, LIC Classic Credit Card and LIC Select Credit Card.
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