Credit Card New Rules: Some new rules will come into effect from April 1 regarding financial aspects. There are 6 changes related to various banks from credit card rules to National Pension System. Knowing that can reduce the additional burden.
Credit Card New Rules: The month of April is very special. The new financial year starts from this month. A lot of changes will take place with this. The financial year 2024-25 will start from 1st April. In this order, some important changes related to money are going to be implemented. Those new rules are likely to affect you. In this order, let us now know about the financial changes that are going to be implemented from April 2024.
New Rules of National Pension System (NPS)
The Pension Fund Regulatory and Development Authority (PFRDA) has taken a key decision to strengthen the security of the National Pension System. Two factor authentication will be implemented for those logging into the CRA system based on password. That means Aadhaar based authentication along with password is going to be mandatory. This new rule will come into effect from April 1, 2024. A circular has been issued to this effect on March 15, 2024.
Changes in SBI Credit Card
State Bank of India has recently made a key announcement. It said that reward points are being waived on rent payments made through several selected credit cards. This new rule will come into effect from April 1. It includes Arum, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse and Simply Click SBI Card. Also, rent payment reward points on some credit cards will stop from April 15.
Yes Bank Credit Card Changes
Yes Bank has given good news to its credit card users. It seems that a complimentary domestic lounge access will be provided if you spend more than Rs.10 thousand in a quarter. There are reports in some media that the expenses incurred in the last quarter may be taken into account in the next quarter.
ICICI Bank Credit Card Rules
According to the ICICI Bank website.. in a quarter Rs. 35,000 and can get one complimentary airport lounge access anytime in the next three months. To get complimentary lounge access in April-June 2024 quarter, one has to spend Rs.35 thousand in January-March quarter. The same formula will continue for subsequent quarters.
Axis Bank Credit Card Rules..
Many changes will be implemented for Axis Bank credit card users. Expenditures on fuel, insurance, gold and jewelery are not eligible for Edge Rewards points. Bank has already prepared their list. It has also removed the insurance, gold and Puyal categories from the expenditure limit for annual fee waiver. Also, the number of complimentary guest visitors at domestic and international airports will be 4 instead of 8.
