Credit Card Rule Changes From April 1: Here’s All You Need To Know
With the start of the new financial year, several new rules in different banks’ credit cards will roll out.
Starting April 1, banking regulations in India will undergo major changes, impacting account holders nationwide. These updates will affect credit card benefits, savings account rules, ATM withdrawal policies, and more. Staying informed will help you avoid penalties and maximise your banking benefits. If you are a credit card holder, here are some of the major updates that you must note, going into the new financial year.
Credit Card Rule Changes from April 1
With the start of the new financial year, several banks, including SBI, IDFC First Bank, and Axis Bank, will roll out changes to their credit card policies. These updates will impact various aspects such as fees, rewards, and benefits.
SBI Credit Cards
SBI Card reward points are set to be reduced on certain transactions. SimplyCLICK SBI card holders will now get 5X reward points on Swiggy, down from the previous 10X. However, other partner brands, such as Myntra, BookMyShow, and Apollo 24, will continue to benefit from the 10X reward offer.
SBI Air India Cards
Users of the Air India SBI Credit Card will see significant reductions in rewards. The Air India SBI Platinum Credit Card will now offer 5 reward points for every Rs 100 spent on Air India ticket bookings, down from 15 points. Similarly, Air India SBI Signature Credit Card holders will earn 10 points per Rs 100 spent, reduced from 30 points.
Axis Bank Vistara Credit Card
Following Vistara's merger with Air India, Axis Bank is making several changes to the benefits of its Vistara Credit Card. Effective April 18, 2025, cardholders renewing their cards on or after this date will no longer be charged an annual fee. However, some valuable benefits will be removed, including the discontinuation of complimentary Maharaja Club tier memberships.
IDFC First Bank Credit Card
Starting March 31, IDFC First Bank will discontinue milestone rewards for its Club Vistara credit card holders. Customers can continue earning Maharaja Points until then, but the card will eventually be phased out. These changes also mean that Club Vistara Silver Membership will no longer be available, and complimentary vouchers, including the Premium Economy Ticket and class upgrade vouchers, will be discontinued.
For customers renewing their cards after March 31, 2025, IDFC First Bank will waive the annual fee for one year. However, key travel benefits, including Vistara perks, have been removed.
