HDFC Credit Cards Devaluation: Key Changes and New Fees Effective August 2024
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Third-Party Payment Apps for Rentals and Education:
A 1% fee will be charged on transactions made through third-party apps (e.g., CRED, PayTM, Cheq, MobiKwik, Freecharge) for rental or educational payments.
The fee is capped at ₹3,000 per transaction.
Transactions made directly through college or school websites or their POS machines are exempt.
International education payments are also exempt from this fee.
Utility Transactions Above ₹50,000:
Consumer credit card transactions over ₹50,000 on utilities will incur a 1% fee.
The fee is capped at ₹3,000 per transaction.
For business cards, the cap is ₹75,000.
Insurance transactions are not subject to this charge.
Fuel Transactions Above ₹15,000:
A 1% fee will be applied to consumer credit card transactions exceeding ₹15,000 on fuel.
The fee is capped at ₹3,000 per transaction.
For business credit cards, the cap is set at ₹30,000.
Rewards Redemption Charges:
Users redeeming reward points for statement credits will incur a ₹50 fee.
This fee does not apply to certain premium cards such as Infinia and Diners Black.
Increased Fees on 6E Rewards Credit Cards:
The annual and renewal fees for 6E Rewards credit cards are being raised.
The previous fee was ₹1,500 + GST for the 6E Rewards XL-IndiGo HDFC Bank Credit Card.
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