1. SBI Card — Air‑Accident Insurance Removed & Billing Rules Revised
Effective Date: July 15, 2025
Insurance Benefits Withdrawn:
₹1 crore air-accident cover — SBI Card Elite, Miles Elite, Miles Prime
₹50 lakh cover — SBI Card Prime, Pulse
Billing Rule Change:
Revised Minimum Amount Due (MAD) now includes full GST, EMI, all charges, plus 2% of remaining balance
New payment settlement order: GST → EMI → charges → finance cost → balance transfers → retail → cash advances
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2. HDFC Bank — New Transaction Fees + Reward Cap Limits
Effective Date: July 1, 2025
1% Fee (capped at ₹4,999/month) on:
Online skill-based gaming spends over ₹10,000/month
Wallet reloads (Paytm, etc.) beyond ₹10,000/month
Utility bills over ₹50,000/month (₹75,000 for business cards)
Additional fees apply to third-party rent, fuel & education payments
Rewards Restructuring:
No rewards for gaming spend
Monthly insurance‑premium reward caps: Infinia 10k pts; Diners Black 5k; other cards 2k (Marriott Bonvoy exempt)
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3. Kotak Mahindra Bank — Card Migration
Effective Date: July 10, 2025
Product Change:
Myntra Kotak Credit Card discontinued
All users transitioned to Kotak League Credit Card
Action Required:
Review new terms, rewards, charges. Myntra‑specific perks likely to end economictimes.indiatimes.com+14m.economictimes.com+14economictimes.indiatimes.com+14
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💡 Why These Rule Changes Matter
Reduced insurance on SBI cards means you may lose ₹50 – 100 lakh travel cover—frequent flyers should seek alternate insurance.
HDFC’s fee structure targets “non-core” spends like gaming, wallets, utilities—impacting reward-led use.
Kotak’s migration could mean loss of Myntra offers—shoppers should assess if the new card matches their lifestyle.
✅ Recommended Actions for Cardholders
| Bank | What You Should Do |
|---|---|
| SBI | Compare premium travel cards or standalone travel insurance from July 15 onward |
| HDFC | Monitor monthly wallet, gaming, utility spending to avoid unwanted fees |
| Kotak | Read new Kotak League Card T&C; evaluate against spending patterns and preferences |
published on 1st July
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