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Starting September 1, HDFC Bank will cap reward points on utility transactions. Customers can earn a maximum of 2,000 points per month on these transactions. The move is aimed at regulating reward accumulation in specific spending categories.
Range of Telecom & Cable Awards
Starting September 1, the limit for telecom and cable transactions will be 2,000 points per month. These transactions are tracked under a specific Merchant Category Code (MCC). This limit ensures proper use of credit cards across various spending categories.
No rewards for third-party education payments
HDFC Bank will no longer offer reward points on payments made for education through third-party apps. This change, which will come into effect from September 1, will promote direct payments through official channels. Eligible transactions must be made through the educational institution's website or POS machines.
Changes in IDFC First Bank Credit Card
From September 2024, IDFC First Bank will reduce the minimum amount payable on credit cards. The payment due date will also be reduced from 18 to 15 days. These changes are aimed at enhancing the financial discipline of cardholders.
RuPay Credit Card on UPI
Customers using RuPay credit cards for payments on UPI and other platforms from September 1, 2024, will earn the same reward points as those using credit cards of other payment service providers. The National Payments Corporation of India (NPCI) has directed banks to ensure parity in reward points and benefits for RuPay credit cards.