Annual membership fee:
Free
Fee: 500/3000/etc
free vs premium cards
the annual benefits regardless of you are using or not.
a free card offers 0.25% rewards points,
3000membership card offers 0.25% rewards points, 10x reward points on dining at selected partners.
4 times airport lounge free access (each quarter)
If you not use those benefits, the fee you are paying for is useless, you are at loss,
So use your credit card don’t obsess with upgrade by phone calls.
GST:
Late Fee: 509₹
Over due Fee: interest 3% to 4% pm.
Emi conversion flexi pay
Loan against credit card
For better understanding read the credit card statement.
Interest free cash loans against cards
some credit cards offers, interest free cash against credit card , but they charge you 10% as transaction fee on each emi, also GST upon closing.
FTT: foreign transaction fee 3.5% when you purchase in dollars
sbi credit card fees & charges
Over limit fee:
using more than credit card limit
2.5% of the over limit or 500 which ever is higher.
Late payment charges:
Outstanding amount 0-200 No Fee;
200-500 100Fee
501 to 1000 then 400 FEE
1001-10,000 ₹500
10k+ 750
Statement retrieval fee: 100₹ each statement
Charge ship retrieval fee: ₹ 225
Finance charges; 2.5%
Cheque pick up fee: 100₹ incase of payment through cheque.
Cash withdrawal charges
transaction amount 2.5% or 500 whichever is higher
interest rate 3.5%pm 42%annual*
No interest free period
interest charges from the date of withdrawal to full payment
Truth behind no cost EMI
as Amazon says clearly, they will reduce interrest rate from their margin as upfront,
so you have to this margin as interrest to your credit card.
Credit card transactions charges
every transaction you make credit card company earns 2.5% on it.
example you went a shopping mall, purchased
Goods worth of 20000, you paid only 20k.
The merchant adjusts 2.5% from their margin 10-30% on goods.
some liquor shops don’t allow credit cards.or they will charge extra for credit card transactions.
Fuel surcharge:
petrol bunk owners or fuel companies have low margin for litre.
So credit card companies waive transaction fees upto(2.5%) 100INR per a month.
Card replacement fee: ₹100