ICICI credit card: ICICI Bank has decided to increase its service charges related to credit cards. In this regard, the bank has informed its credit card customers by issuing a message. The bank has decided to increase the late payment fee, cash advance transaction fee, check return fee, auto-debit return fee. The new charge will be implemented from 10 February 2022. Apart from the late payment fee, Rs 50 and GST will also be deducted separately from the savings account in other types of charges.
For specific information on charging contact bit.ly/3qPW6wj at this link. If you have a card other than ICICI Bank’s Emerald credit card, then the late payment fee has been increased from February 10. If the due amount is less than Rs.100, then many charges will not be levied. Rs 100 is charged in case of outstanding between Rs 100-500, Rs 500 in case of balance up to Rs 501-5000, Rs 750 for outstanding up to Rs 5001-10000, Rs 900 for arrears up to Rs 10001-25 thousand, 25001 In case of outstanding from Rs.50 thousand to Rs.1000 and in case of outstanding more than Rs.50 thousand, Rs.1200 will be charged a late payment charge.
Withdraw cash only in case of emergency
The new charge on all cards in the form of cash advance will be 2.50 percent of the total advance amount. This minimum amount will be Rs 500. A cash withdrawal facility is available on all credit cards, although the cash withdrawal limit is fixed. With the help of a credit card, you can make cash withdrawals apart from shopping. The interest on cash withdrawals from the credit card starts on the day you make the withdrawal. If you travel internationally and withdraw cash on foreign exchange with the help of credit card, then additional charges may be levied. In such a situation, as far as possible, avoid withdrawing cash from credit cards. If you withdraw, do not make the mistake of withdrawing small amounts again and again.
Avoid late payment on credit card
Financial experts recommend that if you do not make the credit card payment by the due date, the best way is to stop using the credit card as you do not get the benefit of the interest-free period. After this, all the high-value transactions can be converted into EMI. It is also possible that you may call customer care so that they can convert your total amount into EMI. This will help in reducing your liability. If the credit card dues are very high, pay it off by taking a personal loan and keep paying the loan EMIs. As we know the interest rate of credit cards is very high. In such a situation, paying the bill by taking a personal loan is a more profitable deal.
