Using a credit card can come with various fees and charges, including annual fees, foreign transaction fees, balance transfer fees, cash advance fees, late payment fees, and over-the-limit fees. Annual fees are charged annually for the use of a credit card. Foreign transaction fees are charged for making transactions in a foreign currency or outside of the card issuer’s country. Balance transfer fees are charged for transferring debt from one credit card to another. Cash advance fees are charged for using a credit card to withdraw cash from an ATM. Late payment fees are charged for missing the minimum payment due date. Over-the-limit fees are charged for exceeding the credit limit on a card. It’s important to understand these fees and charges before applying for and using a credit card, to avoid unexpected costs and manage credit card usage effectively.

Here is a comprehensive list of the most common fees and charges associated with credit cards in India:

1. Joining Fee: A joining fee is a one-time charge that is levied when you apply for a credit card. This fee can range from a few hundred rupees to several thousand rupees, depending on the type of card and the bank issuing it.
2. Annual Fee: Most credit cards in India come with an annual fee, which is a recurring charge that you have to pay every year for using the card. Some credit cards offer a waiver of the annual fee for the first year, while others charge a fee from the first year itself.
3. Finance Charge: A finance charge is a fee that is levied on the outstanding balance on your credit card. This fee is calculated as a percentage of the outstanding balance and is usually charged on a monthly basis.
4. Late Payment Fee: If you do not make the minimum payment due on your credit card by the due date, a late payment fee is levied. This fee can range from a few hundred rupees to a few thousand rupees, depending on the bank issuing the card.
5. Over-Limit Fee: If you spend more than your credit limit, you may be charged an over-limit fee. This fee is usually a fixed amount, and can range from a few hundred rupees to a few thousand rupees.
6. Cash Advance Fee: If you use your credit card to withdraw cash from an ATM, you will be charged a cash advance fee. This fee is a percentage of the amount withdrawn, and can be quite high.
7. Balance Transfer Fee: If you use your credit card to transfer the balance from another credit card, you may be charged a balance transfer fee. This fee is usually a percentage of the amount transferred.
8. Foreign Currency Conversion Fee: If you use your credit card abroad, you will be charged a foreign currency conversion fee. This fee is a percentage of the amount spent in foreign currency and is usually in the range of 2-3%.
9. Rewards Redemption Fee: If you redeem rewards points earned on your credit card, you may be charged a redemption fee. This fee is usually a percentage of the value of the rewards redeemed.
10. Lost Card Liability Fee: If your credit card is lost or stolen, you may be charged a lost card liability fee. This fee is a percentage of the amount spent on the lost card, and can be quite high.

Bottom line:

In conclusion, using a credit card can come with various fees, including annual fees, foreign transaction fees, balance transfer fees, cash advance fees, late payment fees, and over-the-limit fees. It’s crucial to review and understand these charges before applying for and using a credit card, so you can avoid unexpected costs and make informed financial decisions. By being aware of these fees and managing your credit card usage responsibly, you can make the most of your credit card while avoiding unnecessary charges.