Credit Card New Rules: These 5 new rules related to credit cards will be applicable from June 15, this private bank announced, know details

 

IndusInd Bank has announced new rules for its credit cards. These include changes to everything from payment charges to interest calculations. Users should be aware of these.

Credit Card New Rules: Private sector IndusInd Bank has made several changes related to credit cards. The new rules (Credit Card New Rules) will come into effect from June 15. The bank has given this information on its official website http://www.indusind.bank.in . Dynamic currency conversion fees, revised late payment charges, fuel transaction fees, and revised transaction fees on transport will be applicable. There has been a change in the method of interest calculation.

Starting June 15th, if a cardholder who previously made partial payments but now makes a full payment on or before the due date in the current month, interest will continue to accrue on the closing balance of the previous statement until the payment date. This interest will be added to the following month’s statement. The cardholder will only benefit from the interest-free period if the next month’s statement is paid in full.

Also know these new rules

Fuel transaction fees will now depend on the card type. Transactions above ₹30,000/₹50,000 will incur a 1% + GST ​​charge on the total fuel spend.

Dynamic conversion fees have also been changed. This will depend on the card type. Users may have to pay a 1% markup fee + GST ​​or 2% + GST.

Transaction fees for transport, except for air MCC, have also been changed. A one-percent fee will be charged on total expenses exceeding ₹40,000. GST will also be payable. MCC codes 4111, 4112, 4784, and 4131 have been excluded.