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SBI Card has increased charges for particular credit card transactions. The changes include adjustments to the structure of charges for finance charges and utility bill payments. However, these changes have different effective dates.

Finance ChargesSBI Card has changed the finance charges on all unsecured SBI Credit Card to 3.75 per cent p.m effective from November 1, 2024. Although, this does not apply to Shaurya, Defence. As per the SBI Card Website, the present rate of finance charges is upto 3.50 per cent monthly 942 per cent yearly) from the transaction date.According to the SBI Card website, “The minimum amount of Finance Charge levied on all transactions in the event of the Cardholder choosing not to pay his balance in full within payment due date, and on all cash advances taken by the Cardholder will be Rs 25 each, exclusive of applicable taxes." Utility PaymentA 1 per cent charge will be applied in case the total amount of utility payments made in a billing period exceeds Rs. 50,000. This will be effective from December 1, 2024. The utility payments consist of mobile, telephone, electicity bills and insurance premiums on time.Credit cards can be used to pay for several utility bills like broadband, insurance premiums, charitable donations, DTH services, and prepaid and postpaid mobile bills. Other Changes:According to RBI guidelines, nominee registration for Credit Card Insurance is now compulsory. You can do so via the SBI Card app or website. Two cards have been discontinued from September 28, 2024: Club Vistara SBI Credit Card and SBI Credit Card PRIME.

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