After taking a credit card, they use it fiercely, but they do not know about the charges of the card, which become difficult for them later.
One job of credit card is right, do some shopping now and you have to pay money after about a month. With this, you can also buy goods on EMI and whenever you need money, the credit card supports you. But, along with all these advantages, there are also many disadvantages of credit cards, which very few people know about. Actually, there are many such charges on credit cards, which can cost you heavily on your one mistake.
In such a situation, know what kind of charges are levied on the credit card and on which mistakes the credit card can become a source of trouble or more expenses for you. In such a situation, you should also take care of the charges mentioned below and use the credit card accordingly.
Annual Fee – While taking a credit card, you are told about the offer in many ways, but many cards also incur an annual fee. It depends on the card how much fee is to be charged. This fee can range from 500 to 3000 thousand rupees, which you have to pay every year to the bank as maintenance. Sometimes this fee also increases due to taking more of the limit.
Due date fee
If you are paying the credit card bill on time then there is no problem. But, if for some reason you are not able to deposit the bill by the due date, then it can be difficult for you. Yes, there is a lot of charge on the credit card due date and this rate is charged on a monthly basis. If we look at it on an annual basis, then these charges are up to 30 percent.
Charges for transferring money to digital wallet
Often people take the help of credit cards to transfer money to their Paytm or wallet of any application. But, do you know that there is a charge for transferring money from credit card to digital wallet. In such a situation, some things should be kept in mind before transferring from credit card to wallet.
Cash Withdrawal Charges
Credit card shopping, swap, digital payment along with debit card also gives the option of withdrawing money from ATM. But, withdrawing cash through a credit card can be very difficult, as there is a hefty interest to be paid on it. Therefore, only if you need a lot, then you should take the step of withdrawing money from the credit card.
GST also has to be paid
Apart from this, whenever you use any service related to credit card, then you also have to pay GST on the fee or charge of that service. According to reports, at present, these charges attract GST of up to 15 percent, which increases your expenses even more.
