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Credit Card New Rules: The bank has made important changes in the credit card rules, which will come into effect from November 15. These include changes related to airport lounge access, utility payments, supplementary card charges and other services. Let’s take a look at these new rules:
1. Rules for entry into airport lounges
ICICI Bank has increased the minimum spend limit for complimentary airport lounge access from Rs 35,000 to Rs 75,000 per quarter. This limit will be applicable on various ICICI credit cards like HPCL Super Saver Visa, Coral, Rubix, Saffiro and Adani One Signature Credit Card etc.
2. Reward limits on utility and insurance payments
Premium credit card holders (like Rubix, Safiro, Emerald Visa) will get reward points on utility and insurance payments up to a maximum monthly spend of Rs 80,000. For other card holders this limit has been kept at Rs 40,000 monthly expenditure.
3. Reward cap on spending at grocery and departmental stores
Premium card holders will be able to earn reward points on monthly spends up to Rs 40,000 on groceries, while the limit is Rs 20,000 for other cards.
4. Fuel surcharge waiver rule
The bank will waive fuel surcharge on fuel transactions up to Rs 50,000 per month for all cardholders. For Emerald MasterCard Metal Credit Cardholders, the limit is Rs 1 lakh per month.
5. Some payments will not be included in the expense limit
The spending limits for annual fee refund and milestone benefits will not include rent, government and education payments. Additionally, the annual fee refund limit on Emerald and Emerald Private Metal cards has been reduced from Rs 15 lakh to Rs 10 lakh.
6. Airport spa facility closed
ICICI Bank has discontinued the spa service offered through DreamFolks Card. The facility was available to Saffiro, Emerald, Adani One Signature and Emirates Emerald card holders.
7. Annual Fee for Supplementary Card Holders
Complementary card holders will now be charged an annual fee of Rs 199, which will be included in the statement of the card anniversary month.
8. Charges on education and utility payments on third-party apps
A 1% charge will be levied on educational transactions made through third party payment apps like Cred, Paytm, Check and MobiKwik. However, there will be no charge for making payment through the college or school website or POS machine. Additionally, utility transactions above Rs 50,000 will also attract a 1% surcharge.
All these new rules will come into effect from November 15, so ICICI Bank credit card holders should plan their expenses keeping these changes in mind.