Free insurance of Rs 1 crore will not be available on credit card, this bank announced- check details

Credit cards: Credit card is rapidly increasing its reach among the common people on the strength of its amazing abilities. In case of non -cash, you can not only shop with a credit card but also eat food in the hotel along with traveling. In addition, credit cards can be paid in many other places. Not only this, users also get tremendous cashback and reward points on the use of credit cards. This is the reason why the use of credit cards in the country is increasing. However, a bad news is coming for some selected credit card holders.

Free air accident insurance coverage of Rs 1 crore will be closed

SBI Card has issued a necessary information for its customers. SBI Card, a subsidiary of State Bank of India, is going to implement new rules for its cardholders. These rules will come into effect from July 15. The SBI Card has also announced to abolish the Rs 1 crore complementary air accident insurance coverage with credit cards. According to the company, SBI Card Elite, SBI Card Miles and SBI Card Miles Prime will not get a Complimentary Air Excellency insurance cover of Rs 1 crore from July 15. Apart from this, a complementary air accident insurance cover of Rs 50 lakh on SBI Card Prime and SBI Card Pulse will also be closed from July 15. Let us tell you that SBI card used to give a complementary insurance cover on its premium cards.

The law of calculation of minimum amount due will change

In addition, SBI Card said that under the new rules, the counting of minimum amount of GST in billing cycle 100% + 100% + fee/fee/charge of EMI 100% + 100% + 100% of Finance Charge 100% + Overlimit amount (if any) + 2% of the outstanding amount will be included.

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