Indian banks, including SBI Bank, HDFC Bank, ICICI Bank, and Axis Bank, have significantly revised their credit card rules and offerings. Explore the noteworthy changes in their credit card transaction policies as they modify rules and offerings. Read on to discover the specific alterations made by these prominent banks on select credit cards.
HDFC Bank Credit Card Rule Changes
HDFC Bank has introduced significant modifications to the rules governing its two renowned credit cards, Regalia and Millenia credit card. These changes, effective from December 1, 2023, specifically impact the lounge access program for the Regalia credit card. Stay informed about the enhanced features and updates to make the most of your credit card benefits.
HDFC Regalia Credit Card
- Lounge Access Transformation for Regalia Credit Cardholders – HDFC Bank has introduced a significant shift in the lounge access program for Regalia credit cardholders, moving away from fixed criteria to a structure based on credit card spending.
- Spending Criteria Update – Cardholders now need to spend Rs 1 Lakh or more in a calendar quarter (Jan-Mar | Apr-June | Jul-Sept | Oct-Dec) to qualify for enhanced lounge access benefits.
- Path to Avail Vouchers – To avail of these benefits, cardholders can follow a straightforward path on the Regalia SmartBuy page. Navigate to Lounge Benefits and select the Lounge Access voucher option. This path will be live starting from December 1, 2023.
- Quarterly Milestone Benefit – As part of this revamped program, cardholders can enjoy up to 2 complimentary lounge access vouchers every quarter, rewarding them for meeting the spending criteria. Stay informed to leverage these enhanced benefits effectively.
HDFC Bank Millennia Credit Card
- Credit Card Spending Basis – Your lounge access program is now directly tied to your credit card spending.
- Spending Criteria – Spend Rs 1 lakh or more in a calendar quarter (Jan-Mar | Apr-June | Jul-Sept | Oct-Dec).
- Redemption Process – Upon meeting the spending criteria, you’ll receive an SMS with a link to the Millennia Milestone page. Visit the page and select your lounge access voucher (Accessible from December 1, 2023).
- Quarterly Milestone Benefit – Enjoy up to 1 complimentary lounge access voucher as part of the quarterly milestone benefit. Stay tuned for enhanced privileges with your HDFC Bank Millennia credit card.
SBI Credit Card Rule Changes Effective January 1, 2024
According to the SBI Card website, as of January 1, 2024, the accrual of Cashback for Rent Payment transactions on your Paytm SBI Credit Card will be discontinued.
Additionally, starting November 1, 2023, there will be an adjustment in the SimplyCLICK/ SimplyCLICK Advantage SBI Card’s reward points. The 10X Reward Point accrual for EazyDiner online purchases will now be 5X Reward Points. However, you will still receive 10X Reward Points for online purchases at Apollo 24×7, BookMyShow, Cleartrip, Dominos, Myntra, Netmeds, and Yatra. Stay updated to maximize the benefits of your SBI Card with these changes.
Axis Bank Credit Card Rule Changes
Axis Bank recently implemented substantial modifications for its credit cardholders. The bank has revised the benefits of the Axis Bank Magnus credit card and made changes to the annual fee and joining gifts. Furthermore, the terms and conditions of the Axis Bank Reserve Credit Card have been updated. Stay informed to make the most of these adjustments to your Axis Bank credit card benefits.
ICICI Bank Credit Card Rule Changes
ICICI Bank is set to introduce notable modifications to airport lounge access benefits for 21 credit cards, along with adjustments to the reward points rules for several other cards. Stay informed about these changes to ensure you maximize the benefits of your ICICI Bank credit card.
ICICI Bank Airport Lounge Access Update
Effective April 01, 2024, ICICI Bank introduces a new benefit – enjoy one complimentary airport lounge access by spending Rs. 35,000 in the preceding calendar quarter. Unlock access for the subsequent quarter based on spending made in the preceding calendar quarter. To qualify for complimentary lounge access in the Apr-May-Jun 2024 quarter, ensure a minimum spending of Rs. 35,000 in the January-February-March 2024 quarter, and similarly for the following quarters. Stay tuned to make the most of this enhanced privilege.
Also Read: Bank of Baroda Hikes Fixed Deposit Rates by Up to 125 Basis Points
