Apart from reducing incentives for services like insurance, dining, lounge access, fuel surcharge waiver and late payment fees, ICICI Bank has changed the cost of its credit cards.
Through SMS, ICICI Bank informed cardholders about these developments.
ICICI Bank changes credit card fee structure
While some cards have a limit of Rs. 40,000 are reward points for utility costs Limited to Rs. 80,000.
Monthly maximum amount for reward points on purchases at supermarkets and departmental stores is Rs. 40,000, some cards have a minimum limit of Rs. 20,000.
Barring government-related spends, you will still get reward points for using your ICICI Bank Emerald Private Metal Credit Card.
Exemption in fuel surcharge only Rs. Valid only till. 50,000 or Rs. ₹1,00,000 per month depending on the card; They do not apply above these amounts.
The DreamFolks card is no longer used to access the spa.
Rent, government service and educational payments are no longer eligible for milestone benefits and annual fee refunds.
The annual limit of fee change has been reduced from Rs. 15 lakh to Rs. 10 lakhs.
Education fee payment transactions are made through third party applications subject to a 1% fee
Education payments made through third-party applications are subject to a 1% transaction fee; This does not include payments made directly to schools or colleges.
There is a one percent transaction fee for utility payments above Rs. fifty thousand.
A 1% transaction fee is also levied on fuel transactions above Rs. 10,000.
The annual cost of an add-on or supplementary card is now Rs. 199, and this card is shown on the anniversary detail.
Depending on the outstanding amount, the revised late payment charges are applied as follows:
Outstanding Amount Late Payment Fee (INR) <= Rs. 100 zero
Rupee. 101 – Rs. 500: Rs. 100
Rupee. 501 – Rs. 1,000: Rs. 500
Rupee. 1,001 – Rs. 5,000: Rs. 600
Rupee. 5,001 – Rs. 10,000: Rs. 750
Rupee. 10,001 – Rs. 25,000: Rs. 900
Rupee. 25,001 – Rs. 50,000: Rs. 1,100
>Rs. 50,000: Rs. 1,300
To get free airport lounge membership, you need to pay Rs. Will have to spend. 75,000 during the last quarter.
The current monthly finance cost for cash advances and revolving credit for retail purchases is 3.75% (45%) annually.
The foreign exchange markup has been changed to 2%.
