Mandatory Extra Charges for Using Credit Cards

Mandatory Extra Charges for Using Credit Cards

Along with credit card due amount and interest we have to some extra charges also. Present generation is technology generation and everyone are in search of simplest ways things to be done. Usage of Credit card is increasing tremendously as they are providing the easy way to pay bills, online transactions and online shopping purpose. Instead of carrying huge money during journeys we prefer using cards. We have ATM centers in every corner of the city and villages also and hence we all prefer to carry Cards instead of carrying money. Using Debit card and Credit card is the same thing but we can use Credit card even in short of money at that point of time. This is main advantage of using Credit card and we can pay those due amounts later whenever we have enough money.

Credit cards will also provide some Reward points to get offers through these reward points. For some international transactions it only accepts Credit cards and in such situations we don’t have option to use debit card. Reward points are not for every transaction, sometimes it will provide discounts and cash backs. These reward points depends on the type of bank and type of Credit card.

  • Rate of interest – This is applicable when we miss to pay the minimum amount at least.
  • Convenience fee
  • Surcharge fee
  • Foreign transaction fee – This fee will add when we use for international transactions
  • Late pay fine – This come into picture when we miss to pay our dues within due time.
  • Charges are mandatory for all POS credit transactions.