Major credit card rule changes in July 2025

Many banks including SBI, HDFC Bank and Kotak Mahindra Bank have revised their credit card rules, which will come into effect in July 2025. These include the discontinuation of free air accident insurance on certain SBI cards, the introduction of new transaction fees and reward point limits by HDFC Bank, and the gradual replacement of the Myntra Kotak Credit Card with the Kotak League Credit Card. The updated terms of these credit cards should be reviewed by cardholders to prevent any loss.

SBI Card
SBI Card has announced a series of important changes for its credit cardholders, which will take effect from July 15, 2025. The changes range from calculation of minimum due payment, payment settlement order, and discontinuation of complimentary insurance for air accidents on select SBI credit cards.

Discontinuation of complimentary air accident insurance in July 2025

SBI Card will discontinue its complimentary air accident insurance coverage of Rs 1 crore, which is currently offered on select premium SBI credit cards, effective July 15, 2025. This change applies to the following cards: SBI Card Elite, SBI Card Miles Elite, and SBI Card Miles Prime. Customers using these variants of credit cards will no longer be eligible for this benefit after the specified date.

Major SBI credit card update: No complimentary air accident insurance for these cardholders from July 15, 2025

The complimentary air accident insurance coverage of Rs 50 lakh on SBI Card Prime and SBI Card Pulse will also be discontinued, effective July 15, 2025. Cardholders of these variants will no longer receive this insurance benefit from the specified date onwards, as per the information available on SBI’s website.

HDFC Bank: These transaction charges will be revised effective July 1, 2025

HDFC Bank is revising its credit card charges starting July 1, 2025, to enhance transparency and align with spending patterns. Some of the changes include a 1% fee capped at Rs 4,999/month, which will apply to online skill-based gaming, wallet loading (e.g., PayTM, Mobikwik), and utility bill payments exceeding Rs 50,000/month for consumer cards (Rs 75,000 for business cards). No reward points will be awarded on gaming spends. Insurance spends remain exempt from charges but will have monthly reward point caps: 10,000 for Infinia, 5,000 for Diners Black, and 2,000 for most other cards. Marriott Bonvoy cards are not subject to this cap among other changes.

Big changes in HDFC Bank credit card charges from July 1: Wallet loading, utility fees, online gaming, and other key spending categories impacted

Kotak Credit card changes

Kotak Mahindra Bank has announced the discontinuation of the Myntra Kotak Credit Card, effective July 10, 2025. As part of this transition, all existing Myntra Kotak Credit Card users will be migrated to the Kotak League Credit Card. Cardholders are advised to review the features and benefits of the new card and take note of any changes in terms and rewards that may apply post-migration.