Credit card users beware! ICICI, yes, SBI Bank's card rules have changed

Dial-a-Draft Transaction Fees: 3% fee (or maximum Rs 300) for Dial-a-Draft service will be waived off.

Outstation Cheque Processing Charges: 1% fee (or maximum Rs 100) will be waived for outstation cheque processing.

Duplicate bank statement : Fee of Rs 100 for requesting duplicate bank statement will be waived for a period of three months.

RBI's new order on credit card bill payment

A new rule from the Reserve Bank of India (RBI) is that from July 1, 2024, all credit card payments must be processed through the Bharat Bill Payment System (BBPS). It aims to increase payment efficiency and security. Out of the 34 banks authorized to issue credit cards, only 8 banks have enabled bill payments on BBPS. These include SBI Cards, BOB Cards, Kotak Mahindra Bank, IndusInd Bank, and Federal Bank.

Yes Bank has implemented amendments to its lounge access rules from July 1, 2024. Cardholders need to spend a minimum of Rs 35,000 in the previous quarter to qualify for complimentary lounge access in the next quarter. The number of complimentary lounge visits remains unchanged. This is subject to meeting the spending limit of Rs 35,000.

SBI Card

SBI Cards and Payment Services has announced that reward points will not be applicable for government-related transactions on several credit cards from July 15, 2024. The affected SBI credit cards include Air India SBI Platinum Card, Air India SBI Signature Card, Central SBI Select+ Card, Chennai Metro SBI Card, Club Vistara SBI Card, Club Vistara SBI Card Prime, Delhi Metro SBI Card, Etihad Guest SBI Card, Etihad Guest SBI Premier Card, Fabindia SBI Card, Fabindia SBI Card Select, IRCTC SBI Card, IRCTC SBI Card Premier, Mumbai Metro SBI Card, Nature Basket SBI Card, Nature Basket SBI Card Elite, Ola Money SBI Card, Paytm SBI Card, Paytm SBI Card Select, Reliance SBI Card, Reliance SBI Card Prime, Yatra SBI Card.

Axis Bank-Citibank Migration

The migration of Citibank credit cards to Axis Bank will be completed by July 15, 2024. Axis Bank has acquired the consumer businesses of Citibank India and its non-banking finance arm. Until customers get their new Axis Bank cards, existing Citibank-branded cards will continue to work. The names of the new credit cards after the migration will be like this…

Citi Rewards Credit Card: Axis Bank Rewards Credit Card

Indian Oil Citi Credit Card: Indian Oil Axis Bank Premium Credit Card

Citi Premier Miles Credit Card: Axis Bank Horizon Credit Card

Citi Cash Back Credit Card: Axis Bank Cash Back Credit Card

First Citizen Citi Credit Card: Axis Bank Shoppers Stop Credit Card

Citi Prestige Credit Card: Axis Bank Olympus Credit Card

Citi Business Credit Card: Axis Bank Rewards Credit Card

Indian Oil Citi Business Credit Card: Indian Oil Axis Bank Premium Credit Card

IKEA Family Credit Card by Citi: IKEA Family Credit Card by Axis Bank