IDFC First Bank: If you are also a credit card user of the country’s private bank IDFC First Bank, then this news is important for you. IDFC Bank has made some changes in the rules of credit card. The new rules will be applicable from 20 February 2025. These changes include statement date, education fee payment, fuel charge, interest rate, lounge access and different card fees.
In such a situation, if you are a customer of this bank, then it is important for you to know these new rules.
Change in statement date
The statement will now be generated on the 20th of every month for the First Millennia, First Wealth and First Swyp Credit Card users. However, no change has been made in the last date of payment and it will remain as before the statement is released 15 days after the release.
Education fee payment
If you pay education fees from third-party apps like Cred, Paytm, CHEQ or Mobikwik, now you will have to pay 1% additional charge for this, whose minimum amount will be Rs 249. However, if you pay with school, college website or their physical pos machine, it will not be charged.
New fuel charge
Now spending more than Rs 30,000 fuel in a statement bicycle will be charged 1%. That is, if a customer fills a fuel of Rs 40,000, then he will have to pay Rs 400 and tax separately. Along with this, the fuel surcharge discount on Mayura, Ashva and First Wealth Credit Card has now been limited to Rs 300 per statement bicycle.
Chan change
IDFC First Bank has also changed the Dynamic Interest Rate (APR). Now the bank’s dynamic interest rate (APR) will be 8.5% to 46.2% annually. Earlier this rate was between 9% to 43.8% annually.
Apart from this, now credit card holders will be required to spend at least Rs 20,000 every month to get railway lounge facility. This facility will not be available on spending less than this.
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