Know changes to credit card rules of SBI Card, ICICI Bank, Axis Bank

A 1% rent surcharge fee, up to Rs. 1500, will be applied to each rental transaction. As announced by the Indian government, taxes would be charged. There will be a Dynamic Currency Conversion (DCC) markup fee of 1% plus taxes for each international transaction involving Indian merchants registered in foreign countries or Indian currency transactions utilising Indian currency at an overseas location.
According to the Axis Bank website, “Spends threshold for Milestone benefits will exclude rent and wallet transactions. Spends threshold for Annual Fee reversal will exclude rent and wallet transactions.”

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According to the SBI card website on interest calculation, “Minimum Amount due shall be Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance Charge (if any) + Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any)

From 15th March 2024, In case 5% of (Finance Charge + Retail Spends and Cash Advance) is less than Finance Charges then MAD calculation will be Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + Overlimit Amount (if any).”

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According to the ICICI Bank website, “Starting Apr 01, 2024, you can enjoy One complimentary airport lounge access by spending Rs. 35,000 in the preceding calendar quarter. Spends made in the preceding calendar quarter will unlock access for the subsequent calendar quarter. To be eligible for complimentary lounge access in Apr-May-Jun, 2024 quarter, you need to spend a minimum of Rs.35,000 in the January-February-March 2024 quarter and similarly for following quarters.”

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HDFC Bank has made certain changes to the rules of its two popular credit cards – Regalia, and Millenia credit card. With effect from December 1, 2023, the lounge access program for Regalia credit card.

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1. Your lounge access program will be based on your credit card spending.
2. Spend Rs 1 Lakh or more in a calendar quarter (Jan-Mar | Apr-June | Jul-Sept | Oct-Dec)
3. On meeting the spending criteria, visit the Regalia SmartBuy page >> Lounge Benefits >> Lounge access voucher (The path will be live from December 1, 2023 )
4. You can avail of up to 2 complimentary lounge access vouchers as part of a quarterly milestone benefit.

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1) Your lounge access program will be based on your credit card spending.
2) Spending Rs 1 lakh or more in a calendar quarter (Jan-Mar | Apr-June | Jul-Sept | OctDec)
3. On meeting the spending criteria, you’ll receive an SMS with a link for the Millennia Milestone page >> Select lounge access voucher (Will be available from December 1, 2023)

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