The commencement of a new financial year often brings about changes in financial regulations and policies, impacting various sectors, including credit cards. Here’s a comprehensive overview of the significant updates affecting credit card holders starting from April 1, 2024:
Changes in SBI Credit Card Reward Points H2: Discontinuation of Reward Points on Rent Payments Effective April 1, 2024, SBI Card will cease awarding reward points for rent payment transactions on specific credit cards, including AURUM, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse, and SimplyCLICK SBI Card.
H3: Stay Informed About Rewards Program Changes For detailed information on the revised reward points program, users are advised to visit the SBI Card website or app regularly. It’s essential to stay updated as SBI Card frequently modifies its rewards program. Additionally, earning reward points on rent payments for select cards will cease on April 15, 2024.
Updates on Yes Bank Credit Cards H2: New Spending Criterion for Lounge Access Commencing April 1, 2024, Yes Bank has implemented a new spending criterion for complimentary domestic lounge access on their credit cards.
H3: Understanding the Spending Threshold Cardholders must meet a minimum spending threshold of ₹10,000 or above within a calendar quarter to qualify for complimentary lounge access. The eligibility period is determined based on expenditures in the previous calendar quarter, ensuring access for the subsequent quarter.
Updates to ICICI Bank Credit Cards H2: Revision in Complimentary Lounge Access Policy Effective April 1, 2024, ICICI Bank has introduced a revised policy regarding complimentary airport lounge access on their credit cards.
H3: New Spending Criteria for Lounge Access Cardholders must have incurred a minimum expenditure of ₹35,000 in the preceding calendar quarter to qualify for one free airport lounge visit per quarter. This marks a significant departure from the previous policy and requires frequent airport lounge users with ICICI Bank credit cards to take note.
Conclusion As of April 1, 2024, credit card users should familiarize themselves with the latest updates from SBI Card, Yes Bank, and ICICI Bank. These changes in reward points, lounge access criteria, and spending thresholds necessitate proactive awareness to optimize credit card benefits effectively. Stay informed and consult the respective bank’s website or app for comprehensive terms and conditions.
