Several major Indian banks have made significant adjustments to their credit card rules and offerings. Notable banks like SBI Card, HDFC Bank, ICICI Bank, and Axis Bank have implemented changes to specific credit cards. For detailed information on these modifications, continue reading below.
HDFC Bank Credit Card Updates:
HDFC Bank has introduced alterations to the regulations governing two of its popular credit cards, namely Regalia and Millenia credit card. Effective from December 1, 2023, changes have been made to the lounge access program for Regalia credit cardholders.
- Changes in Lounge Access for HDFC Bank Regalia Credit Card:
(1). The lounge access program will now be determined based on credit card spending.
(2). Customers need to spend Rs 1 Lakh or more in a calendar quarter (Jan-Mar, Apr-June, Jul-Sept, Oct-Dec).
(3). Upon meeting the spending criteria, visit the Regalia SmartBuy page >> Lounge Benefits >> Lounge access voucher (The path will be live from December 1, 2023).
(4). Cardholders can avail of up to 2 complimentary lounge access vouchers as part of a quarterly milestone benefit.
- For HDFC Bank Millennia Credit Card:
(1). Similar to Regalia, the lounge access program is now based on credit card spending.
(2). Spending Rs 1 Lakh or more in a calendar quarter (Jan-Mar, Apr-June, Jul-Sept, Oct-Dec).
(3). Upon meeting the spending criteria, customers will receive an SMS with a link for the Millennia Milestone page >> Select lounge access voucher (Will be available from December 1, 2023).
(4). Cardholders can avail of up to 1 complimentary lounge access voucher as part of a quarterly milestone benefit.
SBI Card Changes:
Starting January 1, 2024, SBI Card customers will no longer accrue Cashback for Rent Payment transactions on their Paytm SBI Credit Card. Additionally, as of November 1, 2023, the 10X Reward Point Accrual for EazyDiner online purchases on SimplyCLICK/SimplyCLICK Advantage SBI Card has been reduced to 5X Reward Points.
Axis Bank Credit Card Rule Adjustments:
Axis Bank has recently made significant modifications for its credit cardholders. Changes include adjustments to Axis Bank Magnus credit card benefits, annual fees, joining gifts, and revisions to the terms and conditions of Axis Bank Reserve Credit Card.
ICICI Bank Credit Card Rule Changes:
ICICI Bank credit cardholders will soon experience notable changes to airport lounge access benefits for 21 credit cards, as well as modifications to reward points rules for several other cards.
For ICICI Airport Lounge Access:
Beginning April 1, 2024, customers can enjoy one complimentary airport lounge access by spending Rs. 35,000 in the preceding calendar quarter. Spends made in the preceding quarter will unlock access for the subsequent quarter. To be eligible for complimentary lounge access in the Apr-May-Jun 2024 quarter, customers need to spend a minimum of Rs. 35,000 in the January-February-March 2024 quarter, and similarly for following quarters.
