HDFC Bank new rules effective August 1: Key changes for credit card users
HDFC Bank Credit Card New Rules: HDFC Bank has implemented new rules and fees for its credit card users starting August 1. Here's a summary of the changes:
1% Charge on Rent Payments
A 1 per cent fee will now apply to rent payments made using HDFC Bank credit cards through third-party apps like CRED, Paytm, Mobikwik, Freecharge, and others. The maximum charge for such transactions will be Rs 3,000.
Fuel Payment Charges
- Personal Cards: No additional fee for fuel payments below Rs 15,000. For transactions above Rs that, a 1 per cent fee will apply, with a maximum limit of Rs 3,000.
- Business Cards: No additional charge for fuel payments below Rs 30,000. For amounts exceeding Rs 30,000, a 1 per cent fee will be charged.
Utility Bill Payments
No additional charge will be levied on utility bill payments below Rs 50,000 made with an HDFC Bank credit card. For payments above Rs 50,000, a 1 per cent charge will apply.
Late Payment Fee Structure
The late payment fee structure has been revised as follows:
- No fee for amounts less than Rs 100.
- Rs 100 for amounts between Rs 101 and Rs 500.
- Rs 500 for amounts between Rs 501 and Rs 1,000.
- Rs 600 for amounts between Rs 1,001 and Rs 5,000.
- Rs 750 for amounts between Rs 5,001 and Rs 10,000.
- Rs 900 for amounts between Rs 10,001 and Rs 25,000.
- Rs 1,100 for amounts between Rs 25,001 and Rs 50,000.
- Rs 1,300 for amounts above Rs 50,000.
Charges on Educational Transactions
A 1 per cent charge will now apply to educational payments made through third-party apps like Cred and Paytm. However, transactions made directly through college or school websites, their POS machines, and international educational payments will not incur this charge.
Redemption Fee for Rewards
A redemption fee of Rs 50 will be applied when using rewards as statement credit or cashback. This fee does not apply to Infinia, Diners Black, BizzBlack Metal, Swiggy HDFC Bank, and Flipkart Wholesale cards.
EMI Processing Fee
For the Easy-EMI option from online or offline stores, the processing fee has increased to Rs 299 from the previous Rs 199. Additionally, GST as mandated by the government will be applicable on all types of fees.