Credit Card Hidden Charges: Nowadays, many people have started using credit cards. But do you know that many times banks put some hidden charges on their behalf in the credit card statement? These hidden charges are visible only when you check carefully at the right time. Let us know which 10 things should be checked in the credit card statement, so that if there is a hidden charge, then you can know.
1- Check the minimum payment
First of all, check the minimum payment amount in the credit card statement. If you have made only the minimum payment, then the bank can charge you an additional charge, which is interest.
2- Late fee
If you do not make the payment on time, then the bank can charge a late fee. Therefore, always check the date of payment carefully and pay on time.
3- Transaction charge
Many times banks charge extra charges on foreign transactions. This charge can be hidden, so look at it carefully.
4- Cash advance charge
If you have withdrawn cash from the credit card, then you may also be charged a cash advance charge. This charge can be quite high, so try to avoid it. If there is any such charge in your statement and you have not used that service, then you should immediately complain about it to the bank.
5- Overlimit Charge
When you spend more than the limit of your credit card, the bank can levy an overlimit charge. This charge can be hidden in the statement.
6- Interest Rate
It is also important to see in the statement that if interest is charged on you, then whether the interest rate being charged is correct or not. Some banks can charge a higher interest rate.
7- Reward Points
If you have a plan of reward points on your credit card, then it is important to see whether the correct points have been credited to your account. Sometimes there can be a mistake in the reward points.
8- Annual Charge
Some credit cards charge an annual fee. This fee can be hidden in the statement, so check it carefully.
9- Charges on EMI
If you have converted a transaction into EMI, then definitely check the additional charges or interest on it in the statement.
10- Offers and discounts
Many times banks claim to give the benefit of some offer in the statement, but there may be hidden charges with it. So understand these offers properly.
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