New Delhi: HDFC Bank has made an important announcement relating to its Credit Card. The bank has said that effective from 1st August 2024, it will be making following revision to the Credit card charges.
The new payment charges pertain to Rental Transactions, Fuel Transactions, Utility Transactions, Educational Transactions, International / Cross Currency Transactions, Rewards Redemption towards Statement Credit, Finance Charges and Easy-EMI Processing Fee.
Check Complete Revisions of HDFC Bank Credit Card Terms Effective From 1st August, 2024
Rental Transactions
If you use services like (but not limited to) CRED, PayTM, Cheq, MobiKwik, Freecharge, and others to pay rent, a 1% fee will be charged on the transaction amount and capped at ₹3000 per transaction.
| Category | Merchant Category Codes (MCC) |
|---|---|
| Rent | 6513 |
Fuel Transactions
Consumer Cards:If you spend less than ₹ 15000 per transaction on fuel, no additional fee will be charged. However, if you spend more than ₹15,000 per transaction on fuel, a 1% fee will be charged on the entire amount and capped at ₹3000 per transaction.
Business Cards:If you spend less than ₹ 30000 per transaction on fuel, no additional fee will be charged. However, if you spend more than ₹30,000 per transaction on fuel, a 1% fee will be charged on the entire amount and capped at ₹3000 per transaction.
| Category | Merchant Category Codes (MCC) |
|---|---|
| Fuel | 1361,5172,5541,5542,5983,9752 |
Utility Transactions:
Consumer Cards: If you spend less than ₹ 50,000 per transaction on Utilities, no additional fee will be charged. However, if you spend more than ₹50,000 per transaction on utilities, a 1% fee will be charged on the entire amount and capped at ₹3000 per transaction. Business Cards: If you spend less than ₹ 75,000 per transaction on Utilities, no additional fee will be charged. However, if you spend more than ₹75,000 per transaction on utilities, a 1% fee will be charged on the entire amount and capped at ₹3000 per transaction.
| Category | Merchant Category Codes (MCC) |
|---|---|
| Utility | 4900 |
Insurance transactions will not be considered as Utility transactions and hence no charge will be applicable.
Educational Transactions
If you make education payments through college/school websites or their POS machines, there will be no fees. International education payments are excluded from this charge. However, on education payments through third-party apps like (but not limited to) CRED, PayTM, Cheq, MobiKwik and others, a 1% fee will be charged and capped at ₹3000 per transaction.
| Category | Merchant Category Codes (MCC) |
|---|---|
| Education | 8211,8220,8241,8244,8249,8299 |
International / Cross Currency Transactions
If you make an International / Cross currency transaction, a 3.5% markup fee will be applicable.
*Mark up fee will remain 2% for Infinia, Infinia (Metal Edition), Diners Black, Diners Black (Metal Edition), Biz Black Metal Card, Regalia Gold, BizPower, Tata Neu Infinity HDFC Bank and 2.5% mark up fee for 6E Rewards Indigo XL.
Rewards Redemption towards Statement Credit
If you redeem your rewards towards statement credit (CashBack), a ₹50 redemption fee will be charged.
Rewards Redemption charge will not be applicable for Infinia, Infinia (Metal Edition), Diners Black, Diners Black (Metal Edition), BizBlack Metal,Swiggy HDFC Bank,Flipkart Wholesale.
Finance Charges
If you avail the revolving credit facility & hence choose to pay an amount less than the total amount due reflected in the monthly billing statement, finance charges of 3.75% (per month) will be applicable from the transaction date till the outstanding balance is paid in full . Applicable to all retail & cash transactions.
* Finance charge will remain 1.99% (per month) for Infinia, Infinia (Metal Edition), Diners Black, Diners Black (Metal Edition) ,BizBlack Metal.
Late Payment
Late payment fee structure has been revised as follows:
| Outstanding Amount Slab | Revised Charges |
|---|---|
| < = ₹ 100 | Nil |
| ₹ 101 – 500 | ₹ 100 |
| ₹ 501 – 1000 | ₹ 500 |
| ₹ 1001 – 5000 | ₹ 600 |
| ₹ 5001 – 10000 | ₹ 750 |
| ₹ 10001 – 25000 | ₹ 900 |
| ₹ 25001 – 50000 | ₹ 1,100 |
| > ₹ 50000 | ₹ 1,300 |
Easy-EMI Processing Fee
If you avail the Easy-EMI option at any online / offline store, EMI processing fee of up to ₹299 will be charged. All fees are subject to GST as per government regulations. The Merchant Category codes are defined by the network (Visa, Master Card, Rupay, Diners). HDFC Bank does not define the merchant category.