Credit Card Hidden Charges: Now credit cards are used not only in cities but also in villages. The number of credit card users has seen an annual increase. Do you know that many types of charges are levied by banks or companies on the credit card you use?
Many users are unaware of these charges. Today we will tell you which hidden charges (Credit Card Hidden Charge) are levied on credit cards.
Joining Fee and Annual Charge
Many companies or banks levy joining fees and annual charges on credit cards. Although joining fees have to be paid only once and annual charges have to be paid every year. Many users consider joining fees as annual charges. Many times the annual charge is waived if the bank spends more than the limit on the credit card. Yes, every bank and company has a different limit for this.
Finance Charge
If the user does not pay the full bill of the credit card, then the finance charge is levied by the company or bank. In such a situation, to avoid this charge, experts also advise that the user should pay the full bill instead of the minimum amount.
Cash advance fee
A cash advance fee is charged by the bank or company. This fee is charged when a user withdraws cash from an ATM through a credit card. In such a situation, to avoid this fee, the user should not withdraw cash through a credit card. The maximum advance fee charged by the bank is 2.5 percent.
Surcharge
If you use a credit card to fill petrol-diesel, then let us tell you that this surcharge is charged. The bank or company charges a surcharge of a fixed limit. Many times the surcharge is also refunded by the bank.
Forex markup fee
When you go abroad and use a credit card for any payment, then a forex markup fee is charged. This fee can be 3.5 percent of the transaction amount. However, its rates are different in all banks or companies. Forex markup fees is quite low on many credit cards.
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