IDFC First Bank Credit Card Reward System Update

[TechnoFino]

Effective April 17, 2022 Rent Payment & Property Management Merchant Categories (ie- MagicBricks, No Broker, etc) will accrue only 3x reward points, and will not be eligible for 10x reward points & 10x reward threshold calculation.

Nowadays maximum banks are not offering reward points for rent payments, and I think because of heavy misuse, all banks are going to follow the same.
What do you think?

 

[chaitanyamella]

Effective April 17, 2022 Rent Payment & Property Management Merchant Categories (ie- MagicBricks, No Broker, etc) will accrue only 3x reward points, and will not be eligible for 10x reward points & 10x reward threshold calculation.

Nowadays maximum banks are not offering reward points for rent payments, and I think because of heavy misuse, all banks are going to follow the same.
What do you think?

They aren't even considering it as an online transaction for 6X rewards.

 

[TechnoFino]

They aren't even considering it as an online transaction for 6X rewards.

no... just 3X

 

[vysakh]

So who's remaining now? Standard Chartered?

 

[TechnoFino]

So who's remaining now? Standard Chartered?

HDFC, StanC

 

[Amrish]

HDFC, StanC

What about axis? I know they've stopped RP for FK, Ace etc, but I also saw extra cashback for rent on cred for new users. So I'm guessing they are still allowing for higher cards.
Not sure about magnus. Have read at couple of places that rent pay transactions are getting declined. Do you think it's intentional or a glitch?

 

[TechnoFino]

What about axis? I know they've stopped RP for FK, Ace etc, but I also saw extra cashback for rent on cred for new users. So I'm guessing they are still allowing for higher cards.
Not sure about magnus. Have read at couple of places that rent pay transactions are getting declined. Do you think it's intentional or a glitch?

axis intentionally decline rent payments transactions... and they will add some limit on rent payment transactions.

 

[sameerdes]

So who's remaining now? Standard Chartered?

Zomato Edition Classic has no restrictions currently

 

[Toufiq99]

My statement generation date is April 24, if I pay rent today, will it count towards 10x threshold? I am a bit confused about this since I will be paying before the change (17th April) but the statement generation date is after the change.

 

[Cierdo]

My statement generation date is April 24, if I pay rent today, will it count towards 10x threshold? I am a bit confused about this since I will be paying before the change (17th April) but the statement generation date is after the change.

I have the same query