New Delhi, Feb. 12 -- In the last few months, many banks have announced changes to their credit card reward program and fee structure. IDFC FIRST Bank is the latest to join that list with the changes taking effect from 20th February. So, what are these changes, and how will they impact IDFC FIRST Bank credit cardholders? Let us understand.

A 1% fee, subject to a minimum of Rs. 249, will apply to education fee payments made through third-party platforms. Some of these platforms include CRED, Paytm, Cheq, MobiKwik, and others. The fee will not be applicable for payments made directly through the educational institute's official website or at their POS (Point of Sale) machines.

The Merchant Category Codes (MCC) for education-related transa...