Loading...
Market
Story
HDFC Bank Implements 1% Fee up to Rs 3,000 for Rent Payments via Credit Cards on CRED, Paytm Platforms
Jun 27, 2024, 03:50 AM
HDFC Bank is implementing significant changes to its credit card rewards program starting August 1, including a 1% fee up to Rs 3,000 per transaction for rent payments made using credit cards through fintech apps. This move has led to regulatory concerns and prompted many fintechs to pause rent payments via credit cards. The new charges for rent payments via credit cards are being introduced on platforms like CRED and Paytm. Customers are advised to avoid third-party apps like CRED and Paytm for rent and education payments to avoid the new fees. The changes in credit card charges and rules at HDFC Bank will come into effect from August 1, 2024.
View original story
Similar markets
Increase by more than 5% • 25%
Increase by up to 5% • 25%
Decrease by up to 5% • 25%
Decrease by more than 5% • 25%
Less than 200,000 new customers • 25%
200,000 to 250,000 new customers • 25%
250,000 to 300,000 new customers • 25%
More than 300,000 new customers • 25%
Doubles • 25%
Triples • 25%
Quadruples • 25%
No significant improvement • 25%
Visa gains market share • 25%
Mastercard gains market share • 25%
Both lose market share • 25%
No significant change • 25%
Less than 3 million • 25%
3 million to 3.5 million • 25%
3.5 million to 4 million • 25%
More than 4 million • 25%
Decrease • 25%
No change • 25%
Increase by less than 1% • 25%
Increase by 1% or more • 25%
Less than 50,000 • 25%
50,000 to 99,999 • 25%
100,000 to 199,999 • 25%
200,000 or more • 25%
Less than 3 million • 25%
3-3.5 million • 25%
3.6-4 million • 25%
More than 4 million • 25%
Significantly improved • 25%
Slightly improved • 25%
No change • 25%
Worsened • 25%
Improves significantly • 25%
Improves slightly • 25%
No change • 25%
Declines • 25%
Below 500 • 25%
500 to 1000 • 25%
1000 to 1500 • 25%
Above 1500 • 25%