In the month of October, SBI Credit Card has changed the rules applicable to some of its cards, due to which the charges levied on them have increased. In such a situation, before using a credit card, one must know about the revised rules.
Credit Card Rules: There are many festivals in the month of October, including the great festival of Dussehra and Diwali. During the festive season, companies give huge discounts on their products and people also shop fiercely. During this time, most banks offer special offers on their credit cards. But the State Bank of India has increased the charges on some of its SBI credit cards amid the festive season, which includes utility bill payment and finance charges. In such a situation, before using SBI Credit Card, definitely know the revised rules.
Utility Bill Payment Charge
If the total utility payment amount during the billing period is more than Rs. 50,000, then 1 percent charge will have to be paid. This change on utility bill payment will be effective from 1 December 2024. Let us tell you that utility bill payment includes telephone, mobile, electricity bill and insurance premium.
Finance Charges
SBICard has changed the finance charge on all unsecured credit cards to 3.75% per month. Note that this rule does not apply to Solar and Defense. The revised rule will be effective after Diwali i.e. from November 1, 2024.
These cards will no longer be issued
Let us tell you that SBI Card has stopped issuing Club Vistara SBI Credit Card and SBI Credit Card Prime from 28 September 2024. As per RBI guidelines, nominee registration has been made mandatory for credit card insurance. You can use the SBI Card app or website to update or add nominee details in air accident or personal accident insurance policy.
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