SBI Cards, the pure-play credit card company, will revise its reward points rule soon. From January 1, the SBI-backed company will slash the accrual reward points on online spends at Amazon to 5X reward points. The company will further allow Cleartrip vouchers to be redeemed in a single transaction only. Users will not be able to club it with any other offer or voucher with effect from January 6, 2023.

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As per the notice on its website, SBI Card said, "with effect from January 6, 2023, the Cleartrip voucher issued to SimplyCLICK Cardholders on reaching online spend milestone should be redeemed in a single transaction only and cannot be clubbed with any other offer/ voucher."

Further, SBI Card's notice stated that "acrual of 10X Reward Points on online spends at Amazon.in with SimplyCLICK/SimplyCLICK Advantage SBI Card will be revised to 5X Reward Points with effect from 01 Jan’23."

However, customers will continue to accrue 10X Reward Points on online spends at Apollo 24X7, BookMyShow, Cleartrip, EazyDiner, Lenskart and Netmeds.

Other banks such as HDFC Bank and ICICI Bank have also revised certain charges related to credit card spends.

HDFC Bank

HDFC Bank has sent SMS to certain credit card customers regarding revision in credit card reward points program and fee structure with effect from January 1, 2023.

The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.

According to the SMS sent to its select customers, the redemption of reward points for flights and hotel bookings on the bank’s SmartBuy portal will be capped per calendar month at 1,.50,000 reward points for Infinia cards, 75,000 reward points for Diners Black card, and 50,000 reward points for all other cards. Similarly, the redemption of reward points for Tanishq vouchers would be capped at 50,000 reward points per calendar month for Infinia cards.

ICICI Bank

ICICI Bank credit card customers are now required to pay 1 percent charge as a fee for paying rents. So far, no fee was being levied by any bank or credit card company on such transactions. ICICI bank was the first to introduce a fee on rent payments done through its credit cards and others are expected to follow.

It is meant for cardholders who use their credit cards to pay house rent through platforms like Cred, RedGiraffe, Mygate, Paytm and Magicbricks, among others.