Know These 8 Hidden Credit Card Charges Before Payment
By Priyanka Roshan | July 5, 2024
Many credit cards, especially those offering premium rewards or benefits, charge an annual fee. This fee is typically charged once a year.
Missing a payment due date can lead to a late fee and higher interest rates, impacting your credit score over time.
Carrying a balance accrues interest charges with a substantial Annual Percentage Rate (APR), resulting in significant long-term costs.
Withdrawing cash using your credit card incurs a cash advance fee and higher immediate interest rates, without a grace period.
Purchases outside India may incur foreign transaction fees, adding up with frequent international transactions.
Some credit cards may charge a fee for exceeding your credit limit, though it's less common now.
Some issuers charge a fee for replacing a lost or stolen card, which varies based on expedited shipping needs.
A returned payment for insufficient funds or other issues may incur a fee, impacting your credit rating.