Rules Changing From July 1:- There is only one day left in June and the beginning of July. The first day of every month is used for various official purposes. There are significant changes that also directly affect customers’ pockets. It will be expensive to get a passport from July 1. So now the government will give the opportunity to update the email in Aadhaar for free. In addition, any passengers who travel on the train without a ticket will now have to pay double the fine. Meanwhile, there will also be significant changes to credit card rules. So let’s know what impact these changes will have on your life.
Most people use credit cards these days. Some people have credit cards from not one but 2 or 3 different banks. In that case, if you also use credit cards more often, there is important news for you.
The country’s two largest banks, HDFC and SBI Card, have made strict amendments to their credit card rules. These changes will have a direct impact on customers’ pockets, reward points and airport lounge access. SBI Card has changed the rules of reward points for its PhonePay SBI Credit Card Purple and PhonePay SBI Credit Card Select Black.
HDFC Bank: Changed lounge access rules
A new rule is coming for HDFC Bank credit cardholders. Now, customers will have to spend at least Rs 60,000 in the previous quarter to get three free visits to domestic airport lounges each quarter. This means customers will now have to meet spend-based milestones to qualify for free lounge access.
Under the new rules, you will now have to spend at least ₹60,000 in the previous quarter to get free lounge access a maximum of 3 times in a quarter. For example, if you want to get lounge access for the quarter of July-September 2026, you must transact ₹60,000 or more between April-June 2026. Additionally, the bank has imposed a 1% processing fee on rent payments, wallet loads and online gaming.
SBI Credit Card Changed Rules
SBI card is mostly used by customers. In such a situation, PhonePe has discontinued the reward program for the SBI Credit Cards PURPLE and SELECT BLACK.
PhonePe SBI PURPLE: The total cash back or reward points available through the PhonePe Merchant category on this card is now limited to ₹5,000 per billing cycle.
PhonePe SBI SELECT BLACK: The maximum rewards limit is now fixed at ₹10,000 per month.
Credit Card Disadvantages
Sometimes it happens that some people are not able to pay their credit cards on time. In such a case, an additional charge for late payment is levied, and GST is also added. In addition, if you accidentally withdrew cash from a credit card,
Separate fees and immediate interest start accruing, which spells even more trouble for you.
Transaction Fees
Credit card users also incur many other expenses, such as foreign transaction fees, over-limit charges, and annual fees. Experts say these hidden credit card charges are more dangerous because they add up in small portions and are not immediately felt by users.
Therefore, if you also use a credit card, you should keep these things in mind.