By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NorthBridge TimesNorthBridge Times
  • Auto
    • Bikes
  • Entertainment
    • Bollywood
    • Celebrity
    • Hollywood
  • Events
  • Festival
    • Diwali
    • Holi
  • Sports
    • NBA
    • Basket Ball
    • Cricket
    • Hockey
  • Health
    • COVID-19
  • Technology
Search
© 2022 NorthBridge Times. All Rights Reserved.
Reading: All Credit Card Charges you should be aware of – Here’s a complete list
Share
Aa
NorthBridge TimesNorthBridge Times
Aa
Search
Follow US
© 2022 NorthBridge Times. All Rights Reserved.




Home – Economy

All Credit Card Charges you should be aware of - Here's a complete list
EconomyBusinessIndia

All Credit Card Charges you should be aware of – Here’s a complete list

Ankita Sharma
Ankita Sharma Published January 16, 2017
Last updated: 2017/01/16 at 3:59 PM
Share
5 Min Read
SHARE

Credit Card Charges: With the coming of demonetisation in the economy, the government has been making constant efforts to push the country towards a cashless society. The use of digital platforms has increased for making transactions. It seems very convenient to pay through credit cards, however, to avail these services, the banks makes you pay many charges as well.

All Credit Card Charges you should be aware of - Here's a complete list

Some of these charges are not known by the customers, the knowledge of these charges is a must for all credit card holders. Here’s a list of credit card charges that you should be aware of.

Important Credit Card Charges that one must be aware of before getting a credit card

Annual fees

Mostly, banks tell their customers that no annual fee is charged by them, which makes more and more individuals opting for their credit card service. However, this is only for the beginning. After the first year, many banks start charging and annual fee starting from Rs 200. Many banks also charge a joining fee.

Service Tax

The banks also charge a service tax as high as 14 percent which is applicable on fees, interest and some other charges.

Revolving Interest Rate

The payment due has to be made before a set date. In case the payment is not made on time, the bank will charge a revolving interest rate every month after the due date. This rate ranges from 1.99 percent to 4 percent. This is one of the major factors that should be taken into account and one must not miss the due payment date. Revolving int. rate is one of the highest charges levied on credit card holders.

Extra Charges Levied after Card Limit Exhaustion

After you exhaust the threshold limit of the credit card, the amount withdrawn after will be charged at a higher rate. It is thus advised not to withdraw excess amount once the credit card limit is exhausted.

Charges levied on late payment of money

The banks levy high charges for the late payment of money. This rate mainly depends on the time duration after which the money is paid once the due payment date passes and the amount of money. The rate may vary based on these two factors. It should also be kept in mind that frequent delays in payment of money affect the credibility of the credit card holder badly and it may lead to denial of the loan in future or cancellation of the credit card.

Outstation Cheque Fee

When the credit card holder makes use of the outstation cheque fee, a service charge is levied by the bank. The service charge rate is fixed by the banks.

Foreign Currency Transaction Charges

When you make the payments online, is the payment made is in a foreign currency, a higher charge will be levied. This is because the conversion of the foreign currency to the domestic currency rates are included when the payment in a foreign currency is made.

Cash Withdrawal Charges from ATMs

When the credit card holder withdraws cash from an ATM, whether that of the credit card issuing company or any other bank, an extra charge will be levied on the amount withdrawn.

Duplicate Credit Card Issuance Charges

Many banks charge a fee when a duplicate credit card is issued to the customer. One should enquire about it beforehand.

Individual intending to get a credit card must do ample research regarding the best credit card offers provided by various banks. It is advised to pay heed to the guidelines on the issuance of the credit card and abide by them in order to avoid higher charges in future. The credit card bills must be paid on time and the credit card holder must keep and an account of the expenditure done in a given time duration.

You Might Also Like

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined

Rupee Raise 23 Paise To 82.12 Against US Dollar In Early Trade

Stock Market: Asian Markets Looking Strong

Best Diwali Sandesh to Soldiers Greetings, Wishes, Messages to Indian Army

Diwali Crackers Harmful Effects: Top 6 Reasons Why You Should Give Up Bursting Crackers

TAGGED: all credit card charges, credit card charges, credit card fee, credit card issuance charges

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Ankita Sharma January 16, 2017
Share this Article
Facebook TwitterEmail Print
Share
Previous Article HP Z2 Mini- Word's First Mini Workstation - Introduced in India; Priced At Rs 72,000 Onwards HP Z2 Mini- World’s First Mini Workstation – Introduced in India; Priced At Rs 72,000 Onwards
Next Article Bigg Boss 10 Contestant Monalisa to Get Married in the Show to Beau Vikrant Bigg Boss 10 Contestant Monalisa to Get Married in the Show to Beau Vikrant
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.




Latest News

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined
Apple Current Worth is More Than Alphabet, Amazon and Meta Combined
Business Economy November 7, 2022
Stock Market: Asian Markets Looking Strong
Stock Market: Asian Markets Looking Strong
Economy Business November 7, 2022
Home Study Courses
Managing a Small Business: 5 Tips for Long Term Growth
Business May 7, 2022
Medical Supplies Can Protect You When You Work With Radiation
Which marketing techniques are likely to benefit your manufacturing business?
Business February 17, 2022

You Might also Like

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined
BusinessEconomy

Apple Current Worth is More Than Alphabet, Amazon and Meta Combined

November 7, 2022
Rupee Raise 23 Paise To 82.12 Against US Dollar In Early Trade
Economy

Rupee Raise 23 Paise To 82.12 Against US Dollar In Early Trade

November 7, 2022
Stock Market: Asian Markets Looking Strong
EconomyBusiness

Stock Market: Asian Markets Looking Strong

November 7, 2022
Diwali Sandesh to Soldiers
IndiaFestival

Best Diwali Sandesh to Soldiers Greetings, Wishes, Messages to Indian Army

October 15, 2022

NBT

We influence 20 million users and is the number one business and technology news network on the planet.

Quick Link

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Advertise With Us
February 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728  
« Jan    
NorthBridge TimesNorthBridge Times
Follow US

© 2015-2022 NorthBridge Times. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?