New credit card rules 2024: Know changes to credit card rules of SBI Card, ICICI Bank, Axis Bank in 2024
SBI Card, ICICI Bank and Axis Bank. HDFC Bank’s new card rules came into effect from December 1, 2023.
Let us take a look at the credit card rule changes of ICICI Bank, Axis Bank and SBI Card.
Axis Bank credit card changes from March 5, 2024
Every rental transaction will be subject to a rent surcharge fee of 1%, with a ceiling of Rs 1500. Taxes will be applicable as notified by Government of India. For any international transaction using Indian currency at an international location or Indian currency transactions involving Indian merchants registered in a foreign country, a Dynamic Currency Conversion (DCC) markup fee of 1% plus taxes will be charged.
According to the Axis Bank website, “Spends threshold for Milestone benefits will exclude rent and wallet transactions. Spends threshold for Annual Fee reversal will exclude rent and wallet transactions.”
SBI Card credit card changes from March 15, 2024
According to the SBI card website on interest calculation, “Minimum Amount due shall be Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance Charge (if any) + Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any)
From 15th March 2024, In case 5% of (Finance Charge + Retail Spends and Cash Advance) is less than Finance Charges then MAD calculation will be Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + Overlimit Amount (if any).”
ICICI Bank credit card changes from April 1, 2024
According to the ICICI Bank website, “Starting Apr 01, 2024, you can enjoy One
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