Starting December 1, 2024, several Indian banks, including SBI, Axis Bank, YES Bank, and AU Small Finance Bank, are introducing changes to their credit card policies. SBI Card is introducing a 1% fee on utility payments over Rs 50,000 and removing reward points for digital gaming. Axis Bank is updating its redemption fees, while YES Bank is limiting reward point usage for travel. AU Small Finance Bank is revising reward points on select categories. These changes may impact customers’ spending habits and reward point redemptions. It is essential for cardholders to stay informed to avoid surprises and make the most of their credit card offerings. The changes aim to provide more transparency and effective point management, but may also lead to increased costs for some customers. Cardholders should review their card terms and conditions and adapt their spending habits to maximize the benefits of their credit cards.
Get Ready for a December Surprise: Major Banks are Rethinking Credit Card Policies
by newsworm | Dec 3, 2024 | Au Small Finance Bank, Axis bank, Banking, State Bank of India