Do You Know your Credit Card Charges?
In our current world there are various Credit Cards that are marketed and targeted towards us via various attractive offers and most of the times we do fall for these Offers without even properly looking at all the charges that comes with your Credit Card.
There are various types of Credit Cards within each categories like Shopping, Travel, Lifestyle and many more, and each category has like 100s of Credit Cards in them which also has variable Credit Limit according to a person's Credit Score. But there are some charges that we the common users sometimes forget to see and today I am here to talk about those charges.
Maintenance Charge
This is one of the most common Charges of a Credit Card and most of the people know about this charge, where an Annual Fees is deducted from the user for using a Credit Card. This Fees can vary from 100 INR to all the way to above 10000 INR depending upon the features and premium quality of a Credit Card. But what most people don't know is that most of these Credit Cards have a Spend limit upon reaching that Limit you can get reimbursed for the Annual Maintenance Fees.
The Advance Cash Fee
Almost all the Credit Card have a cash withdrawal mechanism where you can withdraw a set amount of cash with your Credit Card in any ATM. But there is a hefty Cash Withdrawal fees attached to your cash withdrawal which is immediately levied upon your cash withdrawal so even if you return the money in a week or so you will still have to pay the Fees.
Late Payment Fees
Usually when your Credit Card bill arrives it shows you three different things. One of your Due Amount which is the money you need to pay to the bank for the Credit you have utilised, second is the Credit Limit you have left after spending the last month and the last thing is the Minimum Amount Due Tab which shows you the Minimum amount you need to pay to the Bank for that month's credit card usage. But if you fall into this trap and pay only the Minimum amount due then you once again fall prey to their Late Payment Fees.
Now these were the most easy to make mistakes when you are dealing with Credit Card Fees but apart from them you also have to check for GST charges, Overdraft Fees, Forex Charges and some more. So make sure you have a clear look into all the charges that are hidden in your Credit Cards.
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