Credit Card Charges: There have been many major changes in the banking system in India. Along with this, the number of credit card users in the country has increased rapidly. Nowadays people use credit card for all kinds of payments ranging from utility bill payment to rent, hotel bills etc. Credit card companies also offer various types of cashback offers to attract their customers. You can easily make rent payments through credit cards through platforms like CRED, Payzapp, Paytm etc. Are. If you often pay your rate through credit card, then this news is useful for you.
After SBI Card, Bank of Baroda and ICICI Bank, another bank has decided to charge extra for paying rent through its credit card. This bank is IDFC First Bank (IDFC First Bank). If you make rent payment with IDFC First Bank’s credit card, then you will have to pay a fee of 1% on paying the rent. This rule will come into effect from March 3, 2023.
So far what charges did the credit card company levy?
Let us tell you that till now IDFC First Bank was not charging any kind of charge for making rent payment through credit card. Due to this, the bank’s credit card holders were able to pay their rent easily using credit cards through various platforms like Paytm, PhonePe, No Broker, PayZap, Red Giraffe etc. But the thing to note is that on all these platforms, you definitely charge Convenience Fees separately.
These banks are also taking charge on rent payment
It is to be noted that apart from IDFC First Bank, there are many other banks which charge their credit card holders separately for making rent payments. This includes the names of ICICI Bank, SBI and Bank of Baroda. Bank of Baroda has implemented this rule from February 1, 2023.
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