Do you have a credit card? Remember these 5 charges!

Nowadays, we see that the number of credit card users in india is increasing day by day. A credit card is used by more people because it is a facility to spend without any money in hand and return the money after a month without any charges. But at the same time, there are some charges for credit card holders. It is also worth noting that credit card users should keep these charges in mind.

1. Annual Fee:
Some banks offer credit cards with no annual fee for just one year. But after completion of a one-year annual fee is charged according to the type of credit card and credit limit. Every bank charges different fees. It is worth noting that these charges usually range from Rs.500 to Rs.3000 and rarely, only a few banks do not charge an annual fee.
2. Late fee:
All banks charge late fees if we don't pay the amount we used on our credit cards on time. This can be a huge burden for credit card users as it can sometimes be a huge amount. So you should repay your credit card loan on time to avoid late fees.
3. Withdrawal Fees:
 Almost all banks have provided ATM withdrawal facilities through credit cards. But remember that if you withdraw money from a credit card, the fee is charged from the day of withdrawal.
4. Foreign Transaction Fee:
 Now almost all the banks have provided the facility of using credit cards abroad. When you use a credit card abroad, it's not as free as when you use it domestically. Credit cards used abroad incur separate charges.
5. train ticket:
 If you pay by credit card while buying a train ticket or buying petrol or diesel, you have to pay a certain amount as a fee. It's a small amount, but it turns out to be a big amount if you use it often.

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Sowmiya Sriram

06/10/2022 03:15 PM