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The HDFC Bank Millennia Credit Card is one of the most approved entry-level cards in India. This card comes with an annual fee of ₹1,000 with taxes making it affordable and easy to access. HDFC Bank has recently announced some important revisions to the charges and fees associated with the Millennia Card, with some charges being effective from August and some being effective from 1st September 2024. These changes include rental, fuel, educational, utility, and international transactions. It also includes late payment fees, EMI processing fees, and finance charges.
Starting August 1st, 2024, a redemption fee of ₹50 will be applied when redeeming rewards for statement credit/cashback. If the cardholder chooses to redeem cash points through the reward catalog, there will be a deduction of ₹99 with taxes for redemption handling charges. When deciding how to use your rewards, it’s important to be aware of any fees involved.
Changes in Rental Transactions
A 1% fee is going to be charged on the rental transactional amount for using services like MobiKwik, Cred, Paytm, Freecharge, etc. For every rental transaction, the fee is capped at ₹3,000.
Changes in Fuel Transactions
For fuel transactions, no additional fee is charged if the cardholder spends less than ₹15,000 on fuel. But if the cardholder spends more than ₹15,000 on fuel then a 1% fee will be charged on the entire amount. The fuel transaction fee is capped at ₹3,000.
Changes in Utility Transactions
On spending less than ₹50,000 on utilities, no additional fee will be charged but upon spending more than ₹50,000, a 1% fee will be charged on utility transactions capped at ₹3,000 for every transaction.
Changes in Educational Transactions
Effective from 1st September 2024, payments made directly through college/school websites or POS machines will not be charged any fees. The third-party app payments for educational purposes, excluding international education payments, will be charged a 1% fee capped at ₹3000 per transaction.
Cross-Currency Transactions
A 3.5% markup fee will be applied to all international/cross-currency transactions.
Revised Late Payment Structure
| Pending Amount | Updated Charges |
| < = ₹100 | Nil |
| ₹101 – ₹500 | ₹100 |
| ₹501 – ₹1,000 | ₹500 |
| ₹1,001 – ₹5,000 | ₹600 |
| ₹5,001 – ₹10,000 | ₹750 |
| ₹10,001 – ₹25,000 | ₹900 |
| ₹25,001 – ₹50,000 | ₹1,100 |
| > ₹50,000 | ₹1,300 |
Changes in Finance Charges
When you choose to pay less than the total amount due on your credit card statement, a finance charge of 3.75% per month is applicable from the transaction date until the remaining balance is paid in full. This charge applies to all retail and cash transactions.
Updates in EMI Processing Fee
If you opt for the Easy-EMI option at any online or offline store, an EMI processing fee of up to ₹299 will be charged. These fees are subject to taxes as per government regulations and are applicable to all relevant transactions.
No Airport Lounge Access With Millennia Credit Card
Millennia credit cardholders will no longer have access to domestic airport lounges as this benefit was discontinued in December 2023. The airport lounge access benefit was later included as a milestone benefit in the Quarterly Spends Milestone program. Users who spent ₹1 lakh every quarter could choose between a gift voucher or domestic airport lounge access. However, this benefit has now been discontinued. This change could be seen as a significant disadvantage for both the cardholders and the bank, as many people choose this card specifically for its rewards and benefits, including airport lounge access. Many people who already have this card are also quite disappointed with its discontinuation.
Bottom Line
The recent updates to the HDFC Millennia Credit Card bring some important changes to the fees and charges related to the card. From revised late payment structures to adjustments in fees for various transactions, cardholders need to be careful of these updates to make informed decisions. Users need to be aware of the new redemption fees, rental, fuel, utility, educational, and international transaction charges. Stay informed and make the most of your HDFC Bank Millennia Credit Card while navigating these updates.