10 Credit Card Charges That Can Drain Your Wallet 

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Credit cards can be a convenient way to pay for purchases, but they can also come with a variety of fees that can add up quickly, here are some points to know.

1

Annual Fees

Many credit cards, particularly rewards cards, charge an annual fee, Ranging from Rs50 to Rs500 or more.

2

Late Payment Fees

You'll be hit with a late payment fee if you don't pay your minimum balance by the due date.

3

Interest Charges

If you carry a balance on your credit card, you'll be charged interest. Interest rates on credit cards can be very high often 20%.

4

Cash Advance Fees

Withdrawing cash from an ATM using your credit card typically comes with a cash advance fee, often in the range of Rs5 to Rs10.

5

Foreign Transaction Fees

If you use your credit card abroad, you may be charged a foreign transaction fee, typically a percentage.

6

Balance Transfer Fees

Transferring a balance from another credit card can come with a balance transfer fee, often a percentage of the amount transferred.

7

Reward Redemption Fees

Some rewards programs charge a fee to redeem your points or miles for travel or other rewards.

8

Inactivity Fees

Some cards charge a fee if you don't use them for a certain period of time.

9

Returned Payment Fees

If your payment is returned due  to insufficient funds, you may be charged a returned payment fee.

10

Overlimit Fees

If you spend more than your credit limit, you may be charged an overlimit fee.