HDFC Bank recently announced a series of changes in its credit card terms along with introducing new transaction charges and increasing some of the current ones. One of the changes that was announced by HDFC Bank was the introduction of reward redemption charges. Under the new rules from August 1, credit card holders will be charged a fee of Rs. 50 for the redemption of their accrued award points.
The news on reward points redemption fees was quite confusing for Swiggy HDFC card holders as under the new rules Swiggy HDFC card holders get cashback directly credited and adjusted against the cardholder’s outstanding balance in the subsequent monthly credit card statement. Thus, the redemption of points for Swiggy HDFC Bank card holders is automatic.
As per HDFC Bank statement, Swiggy HDFC Bank credit card is among the limited number of select cards that have been exempted from the redemption charges. The cardholders can continue to enjoy automatic cashback redemption each month without any redemption charges. Other HDFC cards that are exempted from redemption charges include Infinia, Infinia (Metal Edition), Diners Black, Diners Black (Metal Edition), BizBlack Metal, and Flipkart Wholesale cards.
Under the new rules, HDFC Bank has also applied a 1% transaction fee on rental and education payments, when made through third-party apps such as Cred, Cheq, MobiKwik, Freecharge, and others. The fees in such cases can go up to Rs. 3,000.
The bank has also introduced changes related to utility payments, fuel surcharges, EMI charges, finance charges, international transactions, etc. We have published another article detailing the list of all charges and term changes announced by HDFC Bank. The article is a must-read for all HDFC Bank credit card holders to ensure that they can avoid or plan for these charges.
