New Credit Card Rules as of November 1: There are some important changes regarding credit cards that will be valid as of November 1, 2024. Major banks like SBI and ICICI Bank have announced changes in credit card rules. If you are using the credit card of these banks, it is very important that you know these changes.

New Credit Card Rules Starting November 1: SBI Cards

SBI Cards has announced some new rules for its customers and these will be effective from 1 November 2024. Let’s see what changes have been made:

1. Validity of Points

The validity period of reward points of SBI card has been changed. Now these reward points will only be valid for a limited time, so you will need to redeem them on time.

2. EMI Transaction Fees

If you have made purchases via EMI using your credit card, some additional charges may apply. Therefore, it is important to obtain full information about new charges before making a major purchase.

3. Bill Payment Fees

SBI said some payment modes may be charged extra, which was not there before. In this context, online bill payments, automatic debit transactions, etc. A fee may be charged.

New Credit Card Rules Starting November 1: ICICI Bank Credit Cards

ICICI Bank has also introduced some new rules for credit card holders and these will come into effect from November 1.

1. Fuel Surcharge Waiver

Fuel surcharge exemption on some ICICI Bank credit cards has been changed. In some cards, this opportunity has been completely removed, and in some cards it can be used depending on the limit.

2. Use of Reward Points

ICICI Bank has changed the redemption process of reward points for credit cards. The use of reward points in certain categories will be different from before and there may be some limitations.

3. Change in Interest Rates

There has been a change in interest rates for purchases made via EMI. ICICI Bank said the new interest rates may vary depending on the card type and transaction.