Common Changes for All RBL Credit Cards (Effective 15th October 2024)
1. 1% Charge on Fuel Transactions
- No additional fee for fuel purchases under ₹10,000.
- A 1% fee will be charged on fuel transactions over ₹10,000, capped at ₹3,000 per transaction.
2. 1% Charge on Education Payments via Third-Party Apps
- A 1% fee applies to education payments made via apps like Cred, PhonePe, Paytm, Nobroker, Freecharge, etc.
- No fee if paid directly to schools/colleges or via POS machines.
3. 1% Charge on Utility Spends
- No fee for utility spends under ₹50,000 per month.
- A 1% fee on utility spends exceeding ₹50,000 per month.
4. Merchant EMI Processing Fee
- A 1.5% processing fee or ₹150 (whichever is higher) for EMI conversions at POS, Web, or Mobile App.
5. Finance Charges for Revolving and Cash Advances
- Slight increase in interest rates based on your CIBIL score:
- Category A (>775): 3.35%/month (40.20%/year)
- Category B (725-775): 3.85%/month (46.20%/year)
- Category C (<725): 3.99%/month (47.88%/year)
Changes to Specific RBL Cards
BookMyShow RBL Bank Play Credit Card:
- Monthly Benefit Exclusions: No benefits on spends for Fuel, Rental, Wallet, Insurance, Utilities, Government Services, Cash, and EMI conversions starting October 15, 2024.
- Annual Fee Waiver Exclusions: Spends in categories like Fuel & Auto, Utilities, Insurance, Real Estate, Education, and Wallets will no longer count toward the annual fee waiver after October 14, 2024.
RBL Bank Platinum Maxima, Icon, and Shoprite Credit Cards:
- Rewards Exclusions: No reward points for spends in Education, Government Services, Contracted Services, Cash, and Bills2Pay.
- Milestone Benefit Exclusions: No bonus milestone reward points for purchases in Fuel & Auto, Utilities, Insurance, Education, and Quasi-Cash categories from October 15, 2024.
Key Points to Remember:
- GST of 18% will apply to all fees.
- These changes aim to discourage commercial transactions and optimise reward structures for personal spending.