minuteman
I Eat Internet
Yes bank devalued credit cards now needs 1% charge for utility payments effective from 1st May 2024 
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Yes Bank to charge 1% fee on utility bill payments on their Credit Cards (Above Rs. 15,000 now it seems)
- Thread starter minuteman
- Start date
- Replies 8
- Views 1,871
weekly mail from yes bank about more and more downgrades lol. got this one as well. what do they mean by utility payments here exactly?
| Important Update regarding your YES BANK Credit Card features | ||||||||||||||||||||
| Dear Customer, | ||||||||||||||||||||
| We wish to inform you that, some product features and benefits on your YES BANK Credit Card are being revised w.e.f. 1st May 2024, as follows: | ||||||||||||||||||||
| 1. Fuel Surcharge Capping | ||||||||||||||||||||
| ||||||||||||||||||||
| 2. Spends threshold for Annual and Joining Fee reversal will exclude Rent and Wallet Transactions | ||||||||||||||||||||
| 3. A charge of 1% will be applicable on all utility transactions in a statement cycle | ||||||||||||||||||||
| Note: Point 2 is applicable only to Paid YES BANK Credit Cards The above mentioned changes are not applicable to YES Private Credit Cards |
minuteman
I Eat Internet
since when did credit cards start charging extra for bill payments 
Lolita_Magnum
ᓚᘏᗢ
Getting calls to get Yes Bank credit card for the past 3 weeks. Thank god, I declined!
Charges to pay for utility is an absolute no-go.
Charges to pay for utility is an absolute no-go.
i have their credit card. i rarely use it. i do use their rupay card over upi. i guess i would stick to one transaction per year to keep it active.
i guess this would spread to other banks as well. still makes no sense. i mean i get charge on rent payments. but bill payments is basic purpose of using a credit card lol. absolute lunacy.
eventually, they would make credit cards useless. upi would have charges for usage. and people would get used to paying for ability to pay for things.
i guess this would spread to other banks as well. still makes no sense. i mean i get charge on rent payments. but bill payments is basic purpose of using a credit card lol. absolute lunacy.
eventually, they would make credit cards useless. upi would have charges for usage. and people would get used to paying for ability to pay for things.
| Important Update regarding your YES BANK Credit Card features | ||||||||||||||||||||
| Dear Customer, | ||||||||||||||||||||
| We wish to inform you that, some product features and benefits on your YES BANK Credit Card are being revised w.e.f. 1st May 2024, as follows: | ||||||||||||||||||||
| 1. Fuel Surcharge Capping | ||||||||||||||||||||
| ||||||||||||||||||||
| 2. Spends threshold for Annual and Joining Fee reversal will exclude Rent and Wallet Transactions | ||||||||||||||||||||
| 3. A charge of 1% will be applicable on all utility transactions on Spends above INR 15,000 in a month | ||||||||||||||||||||
| Note: Point 2 is applicable only to Paid YES BANK Credit Cards The above mentioned changes are not applicable to YES Private Credit Cards | ||||||||||||||||||||
| For any query or assistance, click here to contact us. Alternatively, you may also email us at [email protected]. Click here to download the MITC. | ||||||||||||||||||||
| Thank you for banking with YES BANK. |
They have sent another mail today with some changes it seems. I highlighted the change I noticed. Not sure if anything else is changed as well. They really need to highlight the changes.
Looks like idfc is doing the same on most of their cards.
www.cnbctv18.com
Utility bill payments via these credit cards to get expensive from May 1
The changes reflect a broader industry trend of addressing the low-margin nature of utility transactions and curtailing perceived misuse.