Starting July 2025, several leading banks, including SBI, HDFC Bank and Kotak Mahindra Bank, will roll out significant changes to their credit card terms, including revised insurance benefits, new transaction charges, and product migrations. Cardholders are advised to review these updates carefully to avoid unexpected costs and benefit disruptions.
SBI Card: Insurance benefit withdrawn, payment rules updated
SBI Card will discontinue its complimentary air accident insurance across several premium and co-branded cards from July 15, 2025. This includes the Rs 1 crore cover on SBI Card Elite, SBI Card Miles Elite and SBI Card Miles Prime, and the Rs 50 lakh cover on SBI Card Prime and SBI Card Pulse.Additionally, from August 11, 2025, this benefit will also be removed from co-branded cards like UCO Bank SBI Card ELITE, Central Bank of India SBI Card ELITE, and others, according to ET.SBI has also updated its Minimum Amount Due (MAD) calculation formula. From July 15, the MAD will include 100% of GST, EMI, charges, and finance costs, plus 2% of the remaining dues.The order of payment settlement will now be: GST > EMI > charges > finance charges > balance transfer > retail spends > cash advances.
HDFC Bank: New charges on gaming, wallet loads and utilities
HDFC Bank will revise several credit card charges from July 1, 2025. According to ET, a 1% transaction fee (capped at Rs 4,999/month) will now apply to:
- Online skill-based gaming spends over Rs 10,000/month
- Wallet loads exceeding Rs 10,000/month
- Utility bill payments above Rs 50,000/month (Rs 75,000 for business cards)
No reward points will be given on gaming spends. Insurance spends remain exempt from charges, but rewards will be capped monthly:
- Infinia cards: 10,000 points
- Diners Black: 5,000 points
- Other cards: 2,000 points
Cards like Marriott Bonvoy will continue to enjoy uncapped reward points.Also, education, rent and fuel spends will see charges if routed through third-party apps or if they exceed defined limits, ET reported.
Kotak Mahindra Bank: Myntra Card to be replaced
Kotak Mahindra Bank will discontinue the Myntra Kotak Credit Card from July 10, 2025, and transition customers to the Kotak League Credit Card. Users are urged to review the new card’s features and rewards structure, as the migration will automatically replace the existing benefits.With banks tightening card benefits and introducing new charges, consumers are advised to monitor their monthly spending categories, especially in areas like online gaming, wallet usage, and high-value utility payments.Reviewing terms can help avoid fees and ensure continued access to key features.
