BEST CREDIT CARDS FROM 10 BANKS FOR UTILITY, RENT, EDUCATION, FUEL, GOLD AND GOVERNMENT #ccgeeks

Summary

In this informative video, the host analyzes transaction charges associated with credit card payments for rent, utilities, education, and fuel across major banks in India. By comparing fees from ten leading credit card issuers, including SBI, HDFC, and RBL, the speaker highlights key changes and conditions for various transactions. Viewers are encouraged to subscribe to the channel for future updates and insights, as the video serves as a valuable resource for making informed financial decisions regarding credit card usage and minimizing costs.

Takeaways

• 💳 Transaction charges for credit card payments on rent, education, utilities, and fuel have been newly implemented by various banks.
• 📊 A comparative analysis of transaction charges from 10 major credit card issuing banks is available to help users choose the best options.
• 🏠 Rent payments incur a 1% charge for amounts exceeding ₹15,000, with a cap of ₹3,000 per transaction.
• 💡 Utility payments will also attract a 1% charge for transactions above ₹50,000.
• ⛽ Fuel transactions over ₹15,000 will face a 1% charge, while amounts below this threshold are exempt.
• 🎓 Education payments made directly through school websites or POS machines incur no additional charges, but third-party apps will have a 1% fee.
• 📝 Membership options provide access to exclusive financial tips and detailed content to optimize credit card use.
• 📈 The importance of subscribing to the channel is emphasized to keep up with important financial updates.
• 🔍 Changes in rewards structures and charges have been noted for various banks, with some banks now offering no points for specific transactions.
• 🚫 Users are encouraged to avoid certain credit cards with high base fees if they exceed the transaction thresholds.

Q & A

What are the new transaction charges introduced for credit card payments in India?

The new charges include 1% fees for transactions over specific thresholds, such as ₹15,000 for fuel and ₹50,000 for utilities.

Which banks were compared in the video regarding credit card transaction charges?

The video compares ten major credit card issuing banks including HDFC, SBI, RBL, and Axis Bank.

What is the maximum charge capped at for fuel transactions over ₹30,000?

For fuel transactions over ₹30,000, a charge of up to ₹3,000 is capped at 1%.

Are there any charges for education payments made through school websites?

No additional charges are applied when making education payments directly through school websites or their POS machines.

What happens to reward points for utility payments and government transactions?

Several banks, including SBI and RBL, have suspended reward points for utility payments and government transactions.

How do transaction charges for third-party apps differ from direct payments?

Using third-party apps for transactions often incurs a 1% charge, whereas direct payments may not attract any additional fees.

What is the significance of the membership group mentioned in the video?

The membership group provides access to a comparison sheet for credit card charges, allowing users to identify the best card for their needs.

What percentage charge is applied to international or cross-currency transactions?

International or cross-currency transactions incur a charge of 3.5%.

How does the video suggest managing multiple credit cards?

The video suggests using multiple cards strategically to maximize benefits and minimize charges, especially for fuel and utility expenses.

Why is it important for viewers to subscribe to the channel?

Subscribing provides updates on important financial tips and comparisons, which can help viewers make informed decisions regarding their credit card usage.