SBI Credit Card Charge News: State Bank of India Cards & Payment Services has notified its customers that it will revise the charges of the SBI Credit Card, which will come into effect on March 17, 2023. As per an SMS and email sent out to SBI Cards users, individuals who pay their rent via credit card will now be charged Rs 199 plus any applicable taxes, representing an increase from the previous fee of Rs 99 plus any applicable taxes.
SBI Cards raised the processing fee for credit card rent payments to Rs 99 + 18% GST in November 2022. An email was sent by SBI Cards to its customers, informing them that the charges on their SBI Credit Card will be revised with effect from March 17, 2023.
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According to the reports, since January 6, 2023, SBI Cards & Payment Services has implemented several changes to its SimplyCLICK cardholders’ restrictions, in addition to modifying the fees associated with SBI Credit Card.
Cleartrip vouchers, given to SimplyCLICK cardholders on reaching online spending milestones, can now only be used in a single transaction and cannot be combined with any other offer or coupon. Similarly, reward points for online purchases made on Amazon.in with SimplyCLICK/SimplyCLICK+ cards have also been updated since January 1, 2023.
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Meanwhile, other banks have also imposed credit card rent payments. ICICI Bank had announced that it will charge a processing fee of 1 percent on rent payments made using credit cards, effective from October 20, 2022.
HDFC Bank will apply a fee of 1 percent on the total transaction amount, starting from the second rental transaction of each month.
1. When will the revised fees for SBI Credit Card come into effect?
The revised fees for SBI Credit Card will take effect on March 17, 2023, for all credit cardholders.
2. How much fee will be charged for paying rent through credit card after the fee revision by SBI Cards & Payment Services?
SBI Cards & Payment Services will charge Rs 199 plus any applicable taxes for paying rent through credit card after the fee revision, representing an increase from the previous fee of Rs 99 plus any applicable taxes.