SBI HDFC credit card payment rules changing from July 15 If you’re using a credit card, listen up—big changes are here, and they could hit your wallet hard. SBI, HDFC, and other major banks have rolled out new rules, cutting benefits and adding extra charges. Air travel insurance? Gone. Higher fees? Yep. Reward points capped? That too. Credit Card Rules Changed SBI & HDFC
Worried about how this affects you? Let’s break it down in simple terms so you don’t get blindsided.
Why Are Banks Changing Credit Card Rules?
Banks are tightening perks to cut costs—meaning you’ll pay more for fewer benefits. If you rely on credit cards for travel, online payments, or big purchases, these changes could sting.
Key Changes You Need to Know:
- Air travel insurance removed (up to ₹1 crore coverage gone)
- New fees on high spending (HDFC now charges 1% above ₹50K)
- Reward points capped (spend too much? Extra charges apply)
- Higher wallet loading fees (Paytm, MobiKwik, etc.)
- Stricter minimum payment rules (SBI now includes GST & fees)
HDFC’s New Rules (From 1st July)
HDFC is making it costlier to spend big. Here’s what’s changing:
- 1% fee on monthly spends over ₹50K (Consumer Cards) or ₹75K (Business Cards)
- Third-party wallet loads (Paytm, MobiKwik, etc.) now charge 1% (max ₹4,999)
- Online gaming transactions over ₹10K/month? 1% fee applies
- Reward points have a spending limit (cross it, and you pay extra)
What this means for you: If you frequently load money into digital wallets or splurge on online gaming, your expenses just went up.
SBI’s Big Cuts (From 15th July)
SBI is stripping away one of its best perks—free air accident insurance.
- No more ₹1 crore coverage on Elite & Prime cards
- ₹50 lakh coverage removed from Pulse & Prime cards
- Minimum payment calculation now includes GST, fees & EMI charges
- New payment order: GST/EMI → Fees → Finance charges → Retail spends → Cash advances
