IndusInd Bank Credit Card Users Pay Attention! THESE 5 Changes Will Impact Your Credit Card Bills From June 15

IndusInd Bank Credit Card Changes: From revised interest rates on pending dues to new transaction fees, IndusInd credit card users will see many changes from June 15. Missing out on these changes can raise the risk of penalties and late fees. Credit card users can also end up missing on new benefits introduced by the credit card providers.

Before the new IndusInd Bank credit card changes kick in, let's find out all the details about key changes and how they will impact your credit card bills.

Key IndusInd Bank Credit Card Changes Set To Kick In From June 15

Interest Rates Calculated On Due Payment

The credit card service provider is set to revise the interest calculation method for overdue payments. As per the revised policy of the IndusInd Bank credit card, customers are required to pay their full dues to avail the interest-free credit facility. Those who do not pay their statement balance in full will continue to incur interest not only on the unpaid amount but also on the new amount they will avail as credit.

Interest-Free Period Not For Everyone

Credit card users can enjoy the interest-free period only after they ensure to pay all the outstanding balance for two consecutive statement cycles. Earlier, the interest-free period used to resume once the outstanding balance was fully repaid.

Fuel Transaction Fees

Additionally, the credit card provider has also lowered the threshold for fuel transaction fees on several credit card variants. Most of the standard-tier cards will come with a 1% fee waiver (excluding applicable GST). The fee waiver will be charged on cumulative fuel spends exceeding Rs 30,000 per statement cycle, compared with the earlier threshold of Rs 50,000. The threshold will remain unchanged for mid and premium-tier cards, including the Tiger Credit Card.

New Charges For Transport Spends

IndusInd Bank will now levy a 1% plus GST on cumulative transport spends that will exceed Rs 40,000 in a statement cycle. The charge will apply to categories such as cabs, railways, buses, tolls and related transport services, while air travel transactions will remain excluded. The fee will not apply to Pioneer Private, Pioneer Heritage and Indus Solitaire credit cards.

Dynamic Currency Conversion Fees

The bank has revised its Dynamic Currency Conversion (DCC) charges, which apply when international merchants bill customers in indian rupees instead of the local currency.

Late Payment Charges

Late payment charges have also been increased for several balance slabs. The late fee for outstanding balances between Rs 501 and Rs 1,000 will rise from Rs 350 to Rs 500, while balances between Rs 5,001 and Rs 10,000 will attract a charge of Rs 750 compared with Rs 550 earlier. Charges for balances above Rs 25,000 remain unchanged. No late payment fee applies to Club Vistara Explorer, Pioneer Private and Pioneer Heritage credit cards.