From December 1, 2024, major Indian banks have implemented changes to their credit card policies, affecting charges, reward points, and transaction terms. It is crucial for customers to be aware of these revisions to avoid unnecessary charges and maximize benefits. Key changes include:
* SBI Card: Charging 1% on utility bill payments over Rs 50,000, and no reward points on digital gaming platforms.
* Axis Bank: Introducing charges for cash redemption (Rs 9 + 18% GST) and mileage point transfer (Rs 199 + 18% GST), as well as changes to transaction charges and interest rates.
* YES Bank: Changing redemption policy for reward points, setting limits for hotel and flight bookings, and increasing the cost of airport lounge access.
* AU Small Finance Bank: Altering terms for the Ixigo AU Credit Card, including eliminating reward points for certain transactions and capping points on utility, insurance, and telecom transactions.
These changes aim to improve customer understanding and transparency, but it is essential for customers to review their credit card terms and conditions to ensure they are aware of the new policies and can make the most of their cards.