HDFC Bank Credit Card New Rule Starts Today: Here's How It Will Impact Your Payment

Starting Aug 1, the bank imposed a 1 per cent fee on rental transactions conducted through third-party apps, including CRED, PayTM, Cheq, MobiKwik, and Freecharge exceeding Rs 3K per transaction.

Starting today, new rules for HDFC Bank credit card users will affect their payments using a third-party platform. In addition, beginning in September, credit card users will also have a cap on their reward points. These changes introduce new fees and revised reward point limits for different types of transactions.

Starting August 1, the bank has imposed a 1 per cent fee on rental transactions conducted through third-party apps, including CRED, PayTM, Cheq, MobiKwik, and Freecharge, with a cap of Rs 3,000 per transaction. For fuel transactions exceeding Rs 15,000, a 1 per cent fee will apply to the total amount, also capped at Rs 3,000 per transaction. A 1 per cent fee will be charged on utility bill payments exceeding Rs 50,000, capped at Rs 3,000 for consumer cards and Rs 75,000 for business cards.

Additionally, transferring funds from credit cards into the bank’s PayZapp wallet will now cost a fee of 1.5 per cent of the transferred amount plus GST, bringing the total charge to 1.77 per cent. Previously, these transactions were not subject to any fees.

From September 1, the bank will impose a cap of 2,000 reward points per month on utility, telecom, and cable transactions across all of its credit cards.

In a recent notification to its credit card holders, HDFC Bank announced that payments for educational expenses made through third-party apps such as CRED, Cheq, and MobiKwik will no longer earn reward points. Starting September 1, 2024, education-related transactions on specific business credit cards will not accrue Reward Points or CashPoints. However, payments made directly through college or school websites or their POS systems will continue to earn reward points for other credit cards.

Additionally, starting October 1, HDFC Bank will limit the redemption of reward points for Apple products to one product per calendar quarter through the HDFC SmartBuy portal. Redemption for Tanishq vouchers will be capped at 50,000 points per calendar quarter.