HDFC Bank is changing the rules for its credit cards starting August 1. These changes are similar to what other banks are doing, like adding fees for rent and education payments made through third-party apps and for big utility bill payments.
HDFC Bank’s changes come after they recently updated the cashback on the Swiggy HDFC Bank Credit Card and the NeuCoin rewards for UPI transactions on the Tata Neu Infinity HDFC Bank Credit Card.
Key Credit Card Changes Announced by HDFC Bank
1% Fee for Rent Payments Using Third-Party Apps
If you pay rent with an HDFC Bank credit card through third-party apps like CRED, PayTM, Cheq, MobiKwik, Freecharge, and others, a 1% fee will be charged on the amount. This fee is capped at Rs 3,000 per transaction.
1% Fee for Education Payments Using Third-Party Apps
If you pay for education using an HDFC Bank credit card through third-party apps like CRED, PayTM, Cheq, MobiKwik, and others, a 1% fee will be charged, capped at Rs 3,000 per transaction. There are no fees if you pay directly through school or college websites or their POS machines. International education payments are also excluded from this charge.
1% Fee on Utility Payments Over Rs 50,000
If you pay less than Rs 50,000 per transaction for utilities with your HDFC Bank credit card, there are no fees. If you pay more than Rs 50,000 per transaction, a 1% fee will be charged, capped at Rs 3,000 per transaction.
Also read: Get the Best Current Account for Small Business with Kotak Mahindra Bank
1% Fee on Fuel Payments Over Rs 15,000
If you spend less than Rs 15,000 per transaction on fuel with your HDFC Bank credit card, there are no fees. If you spend more than Rs 15,000 per transaction, a 1% fee will be charged, capped at Rs 3,000 per transaction.
Charges for Redeeming Reward Points
Starting August 1, redeeming your HDFC Bank credit card reward points for a statement credit will cost Rs 50. It’s advised to redeem your points before this date to avoid the fee.
Higher Fees for 6E Rewards Credit Cards
From August 1, the annual and renewal fees for 6E Rewards credit cards are increasing. The fee for the 6E Rewards XL–IndiGo HDFC Bank Credit Card will be Rs 3,000 plus GST, and for the 6E Rewards–IndiGo HDFC Bank Credit Card, it will be Rs 1,500 plus GST.