Credit card usage is being increasing tremendously day by day as they are providing the easiest way of shopping online and offline. Difference between debit card and credit card is, we can only spend money that we have in our account using debit card. Whereas using Credit card we can also spend money from banks account and make our wishes come true at that moment of time. We have to pay those credits later in installments if needed. Hence we always prefer to use Credit cards in spite than using debit card.
Credit cards are mainly used for online shopping as it is the easiest way of payment and also profitable in some cases. We can also pay other bills using Credit cards. For all online/ offline payments and for all monthly dues we can use credit cards because we have to pay monthly bills at a time in the beginning of the month which will be sometimes difficult to manage for regular employees. In such cases Credit card will come into picture. Credit cards will have some extra charges also. Depending on our usage and depending on the type of credit card we are using we will have to pay some extra charges not all the time but in some cases.
- Convenience fee
- Surcharge fee
- Foreign transaction fee – If we use for international transactions
- Late pay fine – If we miss to pay our dues within due time.
- Rate of interest – If we miss to pay the minimum amount at least.
- Charges for POS credit transactions.
The above are some charges that we have to pay sometimes depending on type of transactions. As we are having different offers in using credit cards, we are also having some extra charges to pay.