Revisions in credit card terms and offerings by leading Indian banks. Know more.
Revisions in credit card terms and offerings by leading Indian banks. Know more.(Representational Image )
Many major Indian banks have modified their credit card rules and offerings considerably. Here are banks such as SBI Card, HDFC Bank, ICICI Bank and Axis Bank who have made changes to select credit cards. Read more to know the changes:
SBI Card:
According to the SBI Card website, “W.e.f. 01 Jan 2024, accrual of Cashback will be discontinued for rent payment transactions on your Paytm SBI credit card.”
As of November 1, 2023, the SimplyCLICK/SimplyCLICK Advantage SBI card’s 10X reward point accrual for EazyDiner online purchases will now be 5X reward points. 10X reward points will still be added to your card for online purchases made at Apollo 24×7, BookMyShow, Cleartrip, Dominos, Myntra, Netmeds, and Yatra.
Axis Bank credit card:
Recently, Axis Bank made some significant modifications for its credit cardholders. The bank has modified Axis Bank Magnus credit card benefits and annual fee and joining gifts. The bank has also revised the terms and conditions of Axis Bank Reserve Credit Card.
HDFC Bank credit card:
HDFC Bank has made certain changes to the rules of its two popular credit cards — Regalia, and Millenia credit cards.
For HDFC Bank Regalia Credit Card
With effect from December 1, 2023, the lounge access program for Regalia credit card will be based on your credit card spending. Spend Rs 1 Lakh or more in a calendar quarter (Jan-Mar | Apr-June | Jul-Sept | Oct-Dec). On meeting the spending criteria, visit the Regalia SmartBuy page Lounge Benefits Lounge access voucher (The path will be live from December 1, 2023 ). You can avail of up to 2 complimentary lounge access vouchers as part of a quarterly milestone benefit.
For HDFC Bank Millennia credit card:
Your lounge access program will be based on your credit card spending.
Spending Rs 1 lakh or more in a calendar quarter (Jan-Mar | Apr-June | Jul-Sept | Oct-Dec).
On meeting the spending criteria, you’ll receive an SMS with a link to the Millennia Milestone page. Select lounge access voucher (Will be available from December 1, 2023)
You can avail of up to 1 complimentary lounge access voucher as part of a quarterly milestone benefit.
ICICI Bank credit card:
Cardholders of ICICI Bank will soon notice significant modifications to airport lounge access benefits for these 21 credit cards and reward points rules of many other cards.
Airport lounge access
According to the ICICI Bank website, “Starting Apr 01, 2024, you can enjoy one complimentary airport lounge access by spending Rs. 35,000 in the preceding calendar quarter. Spends made in the preceding calendar quarter will unlock access for the subsequent calendar quarter. To be eligible for complimentary lounge access in the Apr-May-Jun, 2024 quarter, you need to spend a minimum of Rs.35,000 in the January-February-March 2024 quarter and similarly for following quarters.”
