Heads up, credit card holders: New rules take effect in April

livemint.com:

credit cards are not exempt. Below is an overview of key credit card-related updates taking effect from April 1, 2024: Starting from April 1, 2024, SBI Card will discontinue earning reward points on rent payment transactions for specific credit cards, namely AURUM, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse, and SimplyCLICK SBI Card. For more information on the revised reward points program, please visit the SBI Card website or app.

Given that SBI Card regularly updates their rewards program, it’s advisable to stay informed about any changes. Furthermore, the earning of reward points on rent payments for certain cards will cease on April 15, 2024. Starting April 1, 2024, Yes Bank has introduced a new spending criterion for complimentary domestic lounge access on their credit cards.

Below is a detailed overview of the updated policy: Minimum spending threshold: ₹10,000 or above within a calendar quarter. Eligibility period: The expenditure in the previous calendar quarter will determine the access for the following quarter. For example, to qualify for complimentary lounge access from April to June 2024, you should have spent at least ₹10,000 between December 21, 2023, and March 20, 2024.

This approach enables you to strategically plan your expenditures to retain lounge access privileges. Please note, that the number of complimentary lounge visits per quarter remains the same, provided the spending criteria are met. ICICI Bank has introduced a new policy update concerning complimentary airport lounge access on their credit cards.