HDFC Bank is set to implement significant changes to its credit card fee structure starting from Thursday (August 1, 2024). The revised terms will impact various transactions, including payments through third-party platforms, fuel purchases, and international transactions. Here’s a breakdown of what cardholders should know:
There is a new 1% fee on the transaction amount on third-party services like CRED, PayTM, Cheq, MobiKwik, Freecharge, and others to pay rent. However, this fee is capped at Rs 3,000 per transaction. This change aims to standardize charges for payments made through these platforms.
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Revised Fuel Surcharge
For HDFC Bank consumer credit cards, if you spend up to Rs 15,000 on fuel per transaction, no additional fees will apply. However, if your spending exceeds Rs 15,000, a 1% fee will be charged on the total amount, with a maximum limit of Rs 3,000 per transaction.
HDFC Bank Business credit card holders will also experience a similar adjustment. Spending less than Rs 30,000 on fuel per transaction will incur no extra cost. Conversely, exceeding Rs 30,000 will attract a 1% fee, capped at Rs 3,000 per transaction.
Late Payment Fee Structure
Here’s an overview of the new late payment fees introduced by HDFC Bank. These revised charges will apply based on the outstanding amount on your credit card:
| Outstanding Amount (INR) | Revised Charges (INR) |
| < = Rs 100 | Nil |
| Rs 101 – Rs 500 | Rs 100 |
| Rs 501 – Rs 1,000 | Rs 500 |
| Rs 1,001 – Rs 5,000 | Rs 600 |
| Rs 5,001 – Rs 10,000 | Rs 750 |
| Rs 10,001 – Rs 25,000 | Rs 900 |
| Rs 25,001- Rs 50,000 | Rs 1,100 |
| > Rs 50,000 | Rs 1,300 |
International Transaction Fees
For international or cross-currency transactions, a markup fee of 3.5% will be applied. However, some Premium HDFC Bank credit cards will see different rates. For example, cards such as Infinia, Infinia (Metal Edition), Diners Black, and Diners Black (Metal Edition) will continue with a 2% markup fee, while the 6E Rewards Indigo XL will have a 2.5% fee.
Rewards Redemption Charges
When redeeming rewards for statement credit or cashback, a Rs 50 fee will be charged. Notably, this fee will not apply to premium cards like Infinia, Infinia (Metal Edition), Diners Black, and others such as Swiggy HDFC Bank and Flipkart Wholesale.
Finance Charges
A finance charge of 3.75% per month will be applied to outstanding balances if you choose to pay less than the total due on your monthly statement. This charge applies to all monetary and retail transactions. Premium HDFC Bank credit cards, such as Infinia and Diners Black, will retain a lower finance charge of 1.99% per month.
Also Read: Soon, Loans From HDFC, IDFC First and Other Banks For Small Merchants, Retailers on ONDC
Easy-EMI Processing Fee
If you opt for the Easy-EMI option at any online or offline store, a processing fee of up to Rs 299 will be charged.
Remember that all fees mentioned are subject to GST as per government regulations. The Merchant Category Codes, which determine the nature of the transaction, are set by the card networks (Visa, MasterCard, Rupay, Diners) and not by HDFC Bank.
The new charges do not apply to Pixel Credit cards, and the rental transaction charge will only affect commercial credit cards.
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