credit card devaluation

According to RBI guidelines, if a bank wishes to make changes to a credit card’s benefits or terms and conditions, the issuer must provide a one-month advance notice to all customers of the specific product. If a customer doesn’t respond, the bank may consider this as consent to continue using...

Hey TFCians, Now it’s Yes Bank, and they’re raising the spending requirements to get complimentary airport lounge access. Several Yes Bank credit cards have been devalued, making it necessary to spend a significant amount each quarter to qualify. And some changes regarding reward point...

In my view devaluation of credit cards will continue and getting a limit enhancement is going to be more difficult in coming years. These two are product of various circulars from RBI and market related factors. Some of them I've outlined below: Due to higher risk weightage annoucned by RBI...

First, IDFC First Bank, then Yes Bank & HDFC Bank, and now AU Small Finance Bank have also joined the party. Now, AU Bank credit card holders have to pay 1% extra fees for making payments towards fuel and utility after crossing a certain spend limit on each category effective from 15th August...

A few months ago, Yes Bank, IDFC First Bank, and several other banks started charging extra fees on utility, education, and a few other category payments. Recently, HDFC Bank has also joined this trend. Now, HDFC Bank customers need to pay additional service fees for making payments for...

Dear Valued Cardholder, Greetings from HDFC Bank! We want to inform you about an upcoming change to your Tata Neu Infinity HDFC Bank Credit Card (ending in xxxxxx) regarding NeuCoins earned on UPI transactions. New Changes Effective from 01-08-2024: 1.5 % back as NeuCoins on eligible...

AU Bank sending email notifications to their credit card holders informing upcoming devaluation updates. 1. Discontinuation of Reward Points/Cashback: AU Credit Cardholders will not earn Reward Point/Cashback on the below mentioned spends categories & on BBPS transactions starting 1st...

Credit cards were not very popular in India until a few years ago. However, with India emerging as a digital payment powerhouse, credit card payments have become a significant part of it. Indian credit card issuers have issued approximately 9.50 crore credit cards as of October 2023. While the...

ICICI Bank recently launched its flagship credit card, the ICICI Bank Emeralde Private Metal Credit Card. It was issued to a select few individuals in India. However, within a few days of the launch, ICICI Bank decided to devalue this product. The devaluation occurred when ICICI Bank silently...

As we near the end of 2023, it's time to look back at the eventful year in the Indian credit card industry. We've witnessed significant shifts, such as Axis Magnus and Axis Reserve cards transforming from nearly useless to incredibly rewarding and then back to being relatively less rewarding...