If you also use ICICI Bank credit card, then this news is for you only. The bank has changed the rules related to credit cards, which include rules like finance charges and late payment charges, utility transactions and fuel transactions. Let us know what are the new rules related to credit cards.
finance charge
Finance charges have been changed in the credit card rules of ICICI Bank. On withdrawal of money in overdue and advance, different interest will have to be paid according to the month and year. The bank has fixed the monthly interest on overdue at 3.75 percent and 45 percent. At the same time, the same interest will have to be paid on the money withdrawn in advance.
late payment charges
At the same time, changes have also been made regarding late payment charges, in which if there is an outstanding of Rs 101 to 500, Rs 100 will have to be paid as late payment charge and if there is an outstanding of Rs 501 to 1000, Rs 500 will have to be paid as late payment charge. This is the complete list.
| Amount outstanding (Rs.) | Late Payment Fee (Rs.) |
| up to Rs 100 | 0 |
| 101 to 500 | 100 |
| 501 to 1000 | 500 |
| 1001 to 5000 | 600 |
| 5001 to 1000 | 750 |
| 10001 to 25000 | 900 |
| 25001 to 50,000 | 1,100 |
| 50,000 | 1,300 |
education transaction
No charges will be levied on making school and college related payments through bank credit cards. However, if payment is made through a third party app, 1 percent transaction fee will have to be paid.
Utility and Insurance
You can earn reward points on utility bills and insurance. Earlier you had to spend up to Rs 80,000 for this, but now you will get reward points by spending only Rs 40,000.
grocery
Reward points will be available on purchases at grocery and departmental stores. Earlier the point was available on spending Rs 40,000. But now you will get it on spending Rs 20,000 every month.
fuel surcharge
Now the fuel surcharge waiver limit has been increased from Rs 50,000 to Rs 1,00,000 per month, if you spend more than this, you will not get waiver on fuel surcharge.
