New Credit Card Rules From November 1: SBI, ICICI Bank Change Rules – Check Details

New rules for using credit cards from November 1. There are some important changes to credit cards that will come into effect on November 1, 2024. Major banks like SBI and ICICI Bank have announced changes in their credit card policies. If you also use a credit card from these banks, it is very important to be aware of these changes.

New rules for using credit cards from November 1: SBI cards

SBI Cards has announced some new rules for its customers and they will be effective from November 1, 2024. Let’s find out what changes have been made:

1. Validity of points

Expiry date of SBI card bonus points has been changed. Now, these bonus points will only be valid for a limited time, so you will need to use them in time.

2. EMI Transaction Fee

If you have made EMI purchases using your credit card, it may incur additional charges. Therefore, it is important to get complete information about the new fees before making any large purchase.

3. Bill payment fees

SBI has informed that some payment methods may be subject to additional fees that were not previously applicable. Under this, fees may be charged on online bill payments, automatic debit transactions, etc.

New rules for using credit cards from November 1: ICICI Bank credit cards

ICICI Bank has also introduced new rules for credit card holders, effective from November 1.

1. Waiver of additional fuel tax

Waiver of fuel surcharge has been changed for some ICICI Bank credit cards. From some cards this feature has been completely removed, and from some cards it will be available according to the limit.

2. Redemption of bonus points

ICICI Bank has changed the process of redeeming reward points for its credit cards. Redemption of bonus points in certain categories will be different than before and may be subject to certain restrictions.

3. Change in interest rates

There has been a change in interest rates for purchases made on EMI. ICICI Bank said the new interest rates may vary depending on the type of card and transaction.