New Credit Card Rules From September: HDFC Bank’s Reward Point Limits And IDFC First Bank’s Payment Due Date Changes

Beginning September 1, HDFC Bank will implement new rules affecting reward points . A cap will be placed on points earned from utility transactions , limiting accumulation to 2,000 points per month. This measure is intended to control reward point distribution in specific spending categories.

Telecom and Cable Transaction Rewards Limited

HDFC Bank is also setting a cap on reward points for telecom and cable payments , effective September 1. These transactions will be restricted to earning a maximum of 2,000 points per month. This policy aims to ensure equitable credit card use across various spending areas.

Education Payments Excluded from Reward Points

Starting September 1, HDFC Bank will no longer offer reward points for payments made through third-party platforms for educational services . Customers are encouraged to make payments directly via educational institution websites or POS systems to qualify for rewards.

IDFC FIRST Bank Adjusts Credit Card Payment Terms

From September 2024, IDFC FIRST Bank will lower the minimum payment due on credit cards and shorten the payment due date from 18 to 15 days. These updates are designed to promote better financial habits among cardholders.

Parity in Rewards for RuPay Credit Cards

Effective September 1, 2024, RuPay credit card users will receive rewards comparable to those from other credit card networks for UPI transactions. The National Payments Corporation of India (NPCI) has mandated that banks offer equal reward points and benefits for RuPay cards.