New Credit Card Rule: The new month and new fiscal year will begin in six days. In the new fiscal year, numerous regulations will alter. The credit card policies of SBI, Yes Bank, ICICI Bank, and Axis Bank will also be modified. Consequently, you should be informed of the new regulations if you also use these banks’ credit cards.
SBI’s Credit Card Reward Point Scheme Update
SBI, the biggest bank in India, has modified its credit card reward point scheme. The amended regulations will take effect on April 1. Commencing on the first day of the new business year, the bank will no longer award reward points for fare payments made on a number of its credit cards. AURUM, SBI Card Elite, and Simply Click SBI Card are a few of these cards.
ICICI Bank Lounge Access Policy Update
The guidelines for complimentary airport lounge access have been modified by ICICI Bank. The consumer must spend at least Rs 35,000 in the quarter beginning on April 1. You won’t be able to access the airport lounge for free for the following quarter until after this. The Coral Credit Card and the MakeMyTrip ICICI Bank Platinum Credit Card are two of the ICICI Bank credit cards that will be subject to the new regulations.
Yes Bank’s Lounge Access Policy Update
With effect from the start of the new fiscal year, Yes Bank has also modified its policy regarding the benefits of domestic lounge access. To gain entry to the lounge in the upcoming quarter, all credit card holders must spend a minimum of Rs 10,000 during the current quarter. All credit cards have undergone this modification, which will take effect on April 1.
Changes to Axis Bank’s Magnus Credit Card
As of next month’s 20th, Axis Bank will no longer be offering lounge access and reward earnings for users of its Magnus Credit Card. Additionally, the Magnus Card’s annual fee exemption has been eliminated. Spending in the categories of fuel, gold, and insurance will no longer earn reward points. In addition to this, the bank will alter the domestic airport lounge access programme. Customers must have spent at least Rs 50,000 throughout the previous three months to qualify for this.
