Credit card changes in December: 4 banks revise fees and rewards

As 2024 comes to a close, banks like SBI, Axis Bank, YES Bank, and AU Small Finance Bank are introducing key changes to credit card policies starting December 1.
Customers should stay informed to manage fees and rewards effectively. Let’s explore the details.
Starting December 1, 2024, SBI Card will levy a 1% fee on utility payments exceeding Rs 50,000.
Also, no reward points will be offered for spending on digital gaming platforms, impacting several SBI credit cards like SimplyCLICK, AURUM, and Gold SBI Cards.
From December 20, 2024, Axis Bank will charge a redemption fee of Rs 9, along with 18% GST for cash redemptions and Rs 199 along with 18% GST for point transfers to mileage programs.
Other revisions include changes to interest rates, penalty charges, and transaction fees on wallet loads, fuel spends, and rent payments.
From December 1, 2024, YES Bank will limit reward point usage for flights and hotels as follows:
MARQUEE credit cardholders can redeem their YES Rewardz points for flights and hotels up to 70% of the invoice value or three lakh YES Rewardz points per month, whichever is lower.
RESERV credit cardholders can redeem YES Rewardz points for flights and hotels, up to 70% of the invoice value or two lakh points per month, whichever is less.
Other credit cardholders can redeem YES Rewardz points for flights and hotels, up to 70% of the bill, or one lakh points per month, whichever is less.
The Bank has updated its reward point policy for the Ixigo AU credit card, effective December 22, 2024:
No reward points on certain categories: No points will be earned on education, government, rent, and Bharat Bill Payment System (BBPS) transactions.
No points on international spends: Reward points on international transactions will be discontinued, as the bank introduces a 0% forex markup from December 23, 2024.
Reward points for telecom, utility, and insurance spends: Cardholders will earn 1 point per Rs 100 on utility, telecom, and insurance spends. Moreover, cardholders can earn up to 100 reward points per transaction for insurance spending.