If you use an IndusInd Bank credit card, there’s an important update you should know.
Starting June 15, the bank has introduced several changes to its credit card charges and policies.
These changes could make your credit card usage more expensive, especially if you make late payments, spend heavily on fuel, travel, or shop on international websites.
Let’s take a look at the five major changes and how they could affect your wallet.
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Paying Only the Minimum Amount Due Can Cost You More
Many credit card users choose to pay only the minimum amount due instead of clearing the entire bill.
While this may seem convenient, it can now become much more costly.
Under the new rules, interest will continue to be charged on the unpaid balance. More importantly, you will lose the benefit of the interest-free period.
To get this benefit back, you must pay your full outstanding bill on time for two consecutive billing cycles.
This means carrying a balance for a long period could significantly increase your overall repayment amount.
Late Payment Charges Have Increased
Missing your credit card payment due date will now be more expensive than before.
For example:
If your outstanding amount is between ₹501 and ₹1,000, the late payment fee has increased from ₹350 to ₹500.
If your outstanding amount is between ₹5,000 and ₹10,000, the fee has gone up from ₹550 to ₹750.
However, some premium credit cards such as Club Vistara Explorer, Pioneer Private, and Pioneer Heritage cards are exempt from these revised charges.
Fuel Transactions Above ₹30,000 Will Attract Extra Charges
Frequent fuel buyers should also pay attention to the new rules.
Earlier, an additional charge was applied only when monthly fuel spending crossed ₹50,000.
Now, the limit has been reduced to ₹30,000.
If your fuel purchases exceed ₹30,000 in a month, you will have to pay a 1% surcharge along with applicable GST.
Travel and Transport Payments Become Costlier
People who regularly use their credit cards to pay for travel and transportation services may see higher costs.
If your monthly spending on services such as:
Ola and Uber rides
Bus tickets
Train tickets
Toll payments
crosses ₹40,000, an additional 1% fee plus GST will be charged on the excess amount.
For frequent travelers, this could lead to noticeably higher monthly expenses.
International Online Shopping Will Now Cost More
There is also a change for customers who shop on foreign websites.
When a foreign merchant bills your transaction directly in Indian Rupees instead of a foreign currency, a Dynamic Currency Conversion (DCC) charge is applied.
IndusInd Bank has increased this DCC fee from 1% to 2% (plus GST) for standard credit cards and Tiger Cards.
As a result, purchases made on international websites may become more expensive than before.
What Credit Card Users Should Do Now
With these new rules in effect from June 15, IndusInd Bank credit card users should keep a close eye on their spending habits and payment schedules.
Paying the full bill on time, avoiding late payments, monitoring fuel and travel expenses, and being careful while shopping on international websites can help you avoid unnecessary charges and keep your credit card costs under control.