SBI Update: SBI gave a shock to its customers, big change in credit card rules, these rules will be applicable from November 1..

If you use a credit card to pay utility bills like electricity, gas, and water, then you need to be cautious. The country's largest bank State Bank of India (SBI) has given a big shock to its credit card users. Some changes have been made in the credit card rules by SBI Card. The new rules will come into effect from next month i.e. November 1, 2024.

The bank has decided to charge 1% extra on payment of utility bills through credit card. Even before this, many banks and card companies have started charging 1% on utility bill payments after a fixed limit.

Yes Bank will charge a surcharge on payment of utility bills of more than Rs 50 thousand.

A 1% extra charge will be levied on utility bill payments of more than Rs 50 thousand in a statement cycle through an SBI credit card. However, no extra charge will be levied on utility bill payments below Rs 50 thousand.

Changes in finance charges too
SBI has also changed the finance charges of all unsecured credit cards except Shaurya/Defense credit cards. Now 3.75% finance charge will be levied on SBI's unsecured credit cards. These rules will also come into effect from November 1, 2024. Let us tell you that unsecured credit cards are credit cards for which no security deposit or collateral has to be given, whereas secured credit cards are credit cards that are given in exchange for a fixed deposit (FD).