HDFC Bank, India's largest private sector lender, has announced a new fee structure for rent payments made using its credit cards.
Starting immediately, HDFC Bank credit card customers will be charged a 1% fee on rent payments made through platforms like CRED, Cheq, MobiKwik, Freecharge, and others.This fee is capped at ₹3,000 per transaction, as communicated to customers via email on June 26.Recently, other credit card issuers have also adjusted their policies regarding reward points for rent payments.Earlier this year, both ICICI Bank and SBI Cards stopped offering reward points for rent payments on several of their credit card options.From February 1, 2024, rent payments and e-wallet loading transactions done via ICICI Bank credit cards are not earning any reward points, except for certain cards like the Amazon Pay ICICI Bank credit card.Similarly, SBI Cards ceased rewarding rent payments from April 1, 2024, across cards including AURUM, SBI Card Elite, SBI Card Elite Advantage, SimplyCLICK SBI Card, and others.In addition, HDFC Bank will implement changes to its Tata Neu Infinity and Tata Neu Plus credit cards effective from August 1, 2024.These adjustments will affect the cashback structure for UPI payments made using these cards, as communicated via email notifications.Starting August 1, 2024, users of the Tata Neu Infinity HDFC Bank Credit Card will receive 1.5% NeuCoins on eligible UPI transactions made using Tata Neu UPI ID.Transactions made via other eligible UPI IDs will earn 0.50% NeuCoins.Similarly, holders of the Tata Neu Plus HDFC Bank Credit Card will earn 1% NeuCoins on eligible UPI transactions using Tata Neu UPI ID, and 0.25% NeuCoins on transactions using other eligible UPI IDs.
HDFC Bank, India's largest private sector lender, has announced a new fee structure for rent payments made using its credit cards. Starting immediately, HDFC Bank credit card customers will be charged a 1% fee on rent payments made through platforms like CRED, Cheq, MobiKwik, Freecharge, and others.This fee is capped at ₹3,000 per transaction, as communicated to customers via email on June 26.Recently, other credit card issuers have also adjusted their policies regarding reward points for rent payments.Earlier this year, both ICICI Bank and SBI Cards stopped offering reward points for rent payments on several of their credit card options.From February 1, 2024, rent payments and e-wallet loading transactions done via ICICI Bank credit cards are not earning any reward points, except for certain cards like the Amazon Pay ICICI Bank credit card.Similarly, SBI Cards ceased rewarding rent payments from April 1, 2024, across cards including AURUM, SBI Card Elite, SBI Card Elite Advantage, SimplyCLICK SBI Card, and others.In addition, HDFC Bank will implement changes to its Tata Neu Infinity and Tata Neu Plus credit cards effective from August 1, 2024.These adjustments will affect the cashback structure for UPI payments made using these cards, as communicated via email notifications.Starting August 1, 2024, users of the Tata Neu Infinity HDFC Bank Credit Card will receive 1.5% NeuCoins on eligible UPI transactions made using Tata Neu UPI ID.Transactions made via other eligible UPI IDs will earn 0.50% NeuCoins.Similarly, holders of the Tata Neu Plus HDFC Bank Credit Card will earn 1% NeuCoins on eligible UPI transactions using Tata Neu UPI ID, and 0.25% NeuCoins on transactions using other eligible UPI IDs.
