New Delhi. The trend of credit cards is increasing in the country. However, many people who use credit cards do not pay attention to its different charges. Credit card companies or banks charge a lot of money from users in the name of different charges.
If you also have a credit card or are thinking of applying for a credit card, then it is important to know which charges you will have to pay on it.
1. Joining fee and annual charge
On most credit cards, you have to pay joining fee and annual charge. Let us tell you that you have to pay joining fee only once, while you have to pay annual charge every year.
2. Finance charge
If you do not pay the credit card bill in full, then the bank charges finance charge on the remaining bill. This is why experts recommend paying the full bill instead of the minimum amount due.
3. Finance charge
If you do not pay the credit card bill in full, then the bank charges finance charge on the remaining bill. This is why experts recommend paying the full bill instead of the minimum amount due.
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4. Cash Advance Fee
Cash advance fee is the amount charged by the credit card company or the bank when you withdraw money from the ATM using your credit card.
5. Surcharge at Petrol Pump:
Most people are not aware that card companies charge a surcharge when they fill petrol and diesel through credit card.
6. Forex Markup Fees:
Card companies charge forex markup fees when making credit card payments abroad.
7. Card Replacement Fee:
Companies charge card replacement fee for issuing a new card in case the card is lost or stolen.
8. Over limit fee
Credit card may allow you to spend more than the prescribed limit. Banks or card companies do not allow this for free. They charge over limit fee for such transactions.
