sbi credit card charge news: State Bank of India Cards and Payment Services has informed its customers that it will revise the charges of SBI Credit Card, which will be effective from March 17, 2023. According to an SMS and email sent to SBI card users, individuals who pay their rent through credit cards will now be charged Rs 199 plus all applicable taxes, which is against the previous charge of Rs 99 and any applicable taxes. Represents the increase from the applicable tax.
SBI Cards hikes 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 cards will be revised with effect from March. 17, 2023.
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As per reports, from January 6, 2023, SBI Cards and Payment Services has implemented several changes in restrictions for its SimpleCLICK cardholders, apart from revising the fees associated with SBI credit cards.
Cleartrip vouchers awarded to SimplyClick cardholders on reaching online spending milestones can now be used in a single transaction only and cannot be combined with any other offers or coupons. Similarly, the reward points for online purchases made with SimplyClick/SimplyClick+ cards on Amazon.in from January 1, 2023 have also been updated.
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Meanwhile, other banks have also put a moratorium on credit card rent payments. ICICI Bank had announced that it will charge a processing fee of 1 per cent on rent payments made using credit cards with effect from October 20, 2022.
Starting from the second rental transaction of every month, HDFC Bank will levy a fee of 1 per cent on the total transaction amount.
general question
1. When will the revised SBI Credit Card fees be applicable?
The revised fees for SBI credit cards will be effective from March 17, 2023, for all credit cardholders.
2. After the fee revision by SBI Cards & Payment Services, how much will be charged for paying rent through credit card?
After the fee revision, SBI Cards and Payment Services will charge Rs 199 plus any applicable taxes for paying rent through credit cards, which represents an increase from the previous charge of Rs 99 plus any applicable taxes.