HDFC Bank Credit Card Charges to See Big Changes from August 1: All You Need to Know

HDFC Bank Credit Card: HDFC Bank has announced significant changes to its credit card terms and charges, which will come into effect from August 1, 2024. Here’s a detailed look at the revised fees and conditions.

Transaction Fees on Rent Payments

From August 1, 2024, a 1% fee will be charged for rent payments made through services like CRED, PayTM, Cheq, MobiKwik, Freecharge, and similar platforms. This fee is capped at ₹3000 per transaction.

Fuel Transactions

For Consumer Cards:

• No additional fee for transactions below ₹15,000.
• A 1% fee, capped at ₹3000, will apply to transactions above ₹15,000.

For Business Cards:

• No additional fee for transactions below ₹30,000.
• A 1% fee, capped at ₹3000, will apply to transactions above ₹30,000.

Utility Transactions

For Consumer Cards:

• No additional fee for transactions below ₹50,000.
• A 1% fee, capped at ₹3000, will apply to transactions above ₹50,000.

For Business Cards:

• No additional fee for transactions below ₹75,000.
• A 1% fee, capped at ₹3000, will apply to transactions above ₹75,000.

Educational Transactions

No fee will be charged for education payments made directly through college or school websites or POS machines. However, a 1% fee, capped at ₹3000, will be charged for education payments made through third-party apps like CRED, PayTM, Cheq, MobiKwik, and others. International education payments are excluded from this charge.

International and Cross-Currency Transactions

A markup fee of 3.5% will be applicable for international or cross-currency transactions. For specific premium cards like Infinia, Diners Black, and others, the markup fee remains 2% or 2.5%.

Revised Late Payment Charges

The late payment fee structure has been updated as follows:

• Outstanding up to ₹100: Nil
• ₹101 - ₹500: ₹100
• ₹501 - ₹1000: ₹500
• ₹1001 - ₹5000: ₹600
• ₹5001 - ₹10000: ₹750
• ₹10001 - ₹25000: ₹900
• ₹25001 - ₹50000: ₹1100
• Above ₹50000: ₹1300

Rewards Redemption Charges

A ₹50 redemption fee will be charged if you redeem your rewards towards statement credit (CashBack). This fee will not apply to certain premium cards like Infinia and Diners Black.

Finance Charges

If you opt for the revolving credit facility and pay less than the total amount due, finance charges of 3.75% per month will be applicable on the outstanding balance. For premium cards like Infinia and Diners Black, the finance charge remains 1.99% per month.

EMI Processing Fee

An EMI processing fee of up to ₹299 will be charged if you avail the Easy-EMI option at any online or offline store. All the above fees are subject to GST as per government regulations.