BusinessHDFC Bank credit card to levy forex markup fee on use in...

HDFC Bank credit card to levy forex markup fee on use in India with overseas merchant

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AGENCIES

The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been
capped in certain segments.
's largest credit card issuer — HDFC Bank — has revised its reward points programme and fees structure for its credit card
customers, effective January 1, 2023.
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been
capped in certain segments.
According to the communication shared by the bank to its customers, the redemption of reward points for flights and hotel
bookings on the bank's SmartBuy portal will be capped per calendar month at 150,000 reward points for Infinia cards, 75,000 reward
points for Diners Black card, and 50,000 reward points for all other cards.
Similarly, the redemption of reward points for Tanishq vouchers would be capped at 50,000 reward points per calendar month for
Infinia cards.
Further, on Millennia, EasyEMI Millennia, Bharat, Pharmeasy and Paytm cards, cashback redemption will be capped per calendar
month at 3,000 reward points for Millennia, and 50,000 points for all other cards, effective from February 1, 2023.
The bank said for select products and vouchers, redemption of reward points will be capped at 70 per cent of the total value, but
this is not applicable for Infinia and Diners Black cards.
The bank has further clarified that government related transactions will not earn reward points on all the cards except
Regalia, Business Regalia first, Business Money back, CSC small business moneyback, Paytm Business, Flipkart
Business, Retailio, Best Price Save Smart, Best Price Save Max and Pinelabs. Similarly, related transactions will not
earn reward Points on certain cards.
They have also introduced caps on reward points earned on grocery transactions per calendar month at 2,000 for Infinia
cards, Diners Black, Regalia, Regalia Gold, Regalia First, Business Regalia, Business Regalia First, Diners Privilege, Diners
Premium, Diners Clubmiles, Tata Neu Infinity cards and, 1,000 for the rest of the cards.
On rent payment, the bank said, payments made through third-party merchants, a fee of 1 per cent of the total transaction amount
would be levied from the second rental transaction of the calendar month.
Further, if a customer conducts a transaction (in-store or online) in Indian currency at an location or with a merchant
located in India but registered overseas, a dynamic and static conversion markup fee of 1 per cent will be charged, the bank said.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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