Credit Card Fees Explained
Credit Card: The Use Of Credit Cards Of Leading Banks in The Country Has Increased Recently. As There Is A Limit Of Thousands To Lakhs, They Are Using It A Lot. However, There is No Problem If The Bills Purchased Through Credit Card Are Paid On Time. The Problem Starts When The Bills Are Not Paid On Time. Your Pocket Can Be Dented In The Name Of Late Fees. Also Interest Will Be Charged On The Bill Amount. In This Order, Let’s Find Out How Much Fee There Is In Any Bank.
Credit Card:
Credit Card Usage Has Become Very Common These Days. Similarly, Banks Are Also Issuing Credit Cards Easily. Through These Cards, Transactions In Lakhs Are Facilitated. There Are Also Many Offers. Due To This, Many People Transact Through Credit Cards Beyond Greed And Then Face Difficulties. In Case Of Failure To Pay The Credit Card Dues On Time, The Respective Banks Will Charge Extra Charges On Them. Late Charges Are Levied On Credit Card Bills That Are Not Paid On Time. If The Bill Is Not Paid On Time, Not Only The Burden Of Late Fees (Delay Payment of Credit Card), But Also Your Credit Score Will Be Damaged. Banks Are Then Reluctant To Lend. In This Order State Bank of India, HDFC, Axis,
Also Read – Here’s How To Choose The Right Credit Card For You
SBI Credit Card Fees:
State Bank of India, The Largest Bank In The Country, Does Not Charge Any Late Payment Charges For Bills Below Rs.500 While Using The Credit Card (Sbi Credit Card Late Payment Charges). However, A Late Fee of Rs.400 Will Be Charged On Bills From Rs.501 to Rs.1000. Also, Rs.1,300 will Be Charged Under Late Payment Charges On Bills Ranging From Rs.1001 to Rs.10 Thousand. Cash Withdrawal Or Over Limit Charges Are 2.5 Percent. Otherwise A Maximum Of Rs.600 Will Be Charged.
HDFC Credit Card Fees:
There Are No Charges For Bills Under Rs.100 On The Credit Card Of The Famous Private Giant HDFC Bank. However, Late Fee of Rs.100 Will Have To Be Paid For Bills Between Rs.100 And Rs.500. A Charge Of Rs.500 Will Be Taken On The Same Bills Between Rs.501 to Rs.5000. Rs.600 From Rs.5001 to Rs.10 Thousand, Rs.800 From Rs.10,001 to Rs.25 Thousand, Rs.1100 From Rs.25001 to Rs.50 Thousand Have To Be Paid.
Also Read – Are You Using Credit Cards A Lot? What Is The Problem?
Axis Bank Credit Card Late Fee:
Another Private Giant Bank Axis Bank Credit Cards (Axis Bank Credit Card Late Payment Charges) Does Not Have Any Late Payment Charges For Bills Under Rs.300. But From Rs.300 to Rs.500 You Have To Pay A Late Fee Of Rs.100. The Same Will Have A Late Fee of Rs.500 from Rs.501 to Rs.1000. From Rs.1001 to Rs.10 Thousand Late Fee Of Rs.1000 Is Charged.
Also Read – Do Not Use Credit Card At All In Such Places
Citibank Credit Card:
Citibank Credit Card Users Do Not Need To Pay Any Late Fees For Bills Up To Rs.2000. However, From Rs.2000 To Rs.7500 A Late Fee Of Rs.600 Has To Be Paid. Also, From Rs.7500 to Rs.15 Thousand, The Late Fee is Rs.950. Late Charges Of Rs.1300 Will Have To Be Paid For Bills Above Rs.15 Thousand.
Banks Send Early Warnings To Credit Card Customers if They Do Not Pay Their Bills On Time. Information Will Be Sent Through Mail And SMS to Pay Within The Due Date. However, if The Bill Is Not Paid, They Will Charge Interest (Credit Card Interest Rate) On That Amount Along With Penalties. Interest Free Finance Will Not Be Available For The Month Thereafter.
