Credit Card New Rules: New rules for credit cards are coming into effect from September 1 – check details here

 

Credit Card New Rules: New rules for credit cards are coming into effect from September 1 - check details here

New Rules Credit Card: Today, crores of people have credit cards. From September 1, some credit card rules are changing in the country. Know what these are.

Credit Card New Rules: From September 1, HDFC Bank will set a limit on reward points on utility transactions (New Rules). Customers can earn only up to 2,000 points per month on these transactions. The move is aimed at regulating reward accumulation in specific spending categories.

Limit on telecom and cable rewards

From September 1, a limit of 2,000 points per month will be imposed on telecom and cable transactions. These transactions are tracked under a specific Merchant Category Code (MCC). This limit ensures proper use of credit cards in various spending categories.

No rewards for third-party education payments

HDFC Bank will no longer offer reward points for education payments through third-party apps. Effective September 1, this change encourages direct payments through official channels. Eligible transactions must be made through the educational institution’s website or POS machines.

IDFC First Bank Credit Card Changes

From September 2024, IDFC First Bank will reduce the minimum amount payable on credit cards. The payment due date will also be reduced from 18 to 15 days. These changes are aimed at increasing the financial discipline of cardholders.

RuPay Credit Card on UPI

From September 1, 2024, customers using RuPay credit cards for payments on UPI and other platforms will get the same reward points as those using credit cards of other payment service providers. The National Payments Corporation of India (NPCI) has directed banks to ensure parity in reward points and benefits for RuPay credit cards.

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the Corona ep
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the Incom
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5% TDS on amounts exceedi
Read more