You may be disappointed with the credit card charges later. So be aware of these fees before taking a credit card. Seeing that it is free, many people take advantage of credit cards. You may be disappointed with the card charges later. So be aware of these fees before taking a credit card.

Reasons for these charges?

Card over-limit fees: In case you exceed the prescribed credit card limit, banks or card companies charge over-limit fees for such transactions. You may not know this.

Surcharges sit at petrol pumps: Many card users are unaware that a surcharge is levied while buying petrol or diesel using credit cards. Many people do this without knowing it.

Entry and Annual Fees: Most credit cards charge a connection fee and an annual charge. Connection or fee has to be paid once. Where annual charges are charged every year.

Card Stolen Fee: In many cases companies charge a fee to issue a new card if the card is lost or stolen Otherwise the bank will not be able to issue you the card.

Non-payment charges: If you don’t pay your credit card bill in full, the bank charges a finance charge on the remaining balance. That is why the entire bill should be deposited to avoid these charges.

Cash in Advance Fee: This fee is charged by the credit card company or bank when you withdraw cash from an ATM using your credit card.

Foreign transaction fees: Card companies charge a forex markup fee when you use your credit card for transactions abroad. You should take credit card only after knowing these.

This entry was posted on Wednesday, July 10th, 2024 at 6:24 am and is filed under Credit Card. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.