The decision to make an online credit card submission can be considered a big financial decision. For that, it would be better if you know things related to the decision, including the costs of credit cards that you might need, because even if you make credit card payments on time, often there are still other costs that you need to pay.
Credit Card Fee’s
Every year, the credit card organizer will charge a fee on the first bill of your credit card. This fee is an annual fee that will be charged every year you use a credit card. The amount of annual credit card fees varies depending on the credit card provider bank and the type of credit card you use, such as classic, gold, platinum , or others.
Even though it’s not too big, it would be better if you prepare stamp duty. This fee is charged if you pay a bill in a certain amount set by the bank.
This fee will be charged to you if you are late paying your credit card bill. Late fees are usually charged a certain percentage of your total bill. In general, late fees are around 3% of your total bill, but there are some banks that set it within the maximum limit. It’s a good idea to ask for the amount of this late fee or read the terms and conditions that apply before applying for a credit card.
Interest fees are usually charged when you make a purchase with a credit system. The maximum amount of interest costs has been determined and changed depending on the policy set by Bank Indonesia.
Over Usage Fee
Each credit card has a predetermined limit. Using a credit card beyond the limit provisions will provide an additional burden that you have to pay.
Cash withdrawal fees
For those of you who often use credit cards to make cash withdrawals, you should choose a bank with a low cash withdrawal fee. So that the credit card bill that you have to pay isn’t too big. In general, the cost of cash withdrawals ranges from 3-6% of the amount of money withdrawn and depends on the provisions of the bank of the credit card provider.
Foreign Currency Conversion Costs
For those of you who often travel abroad or make purchases on overseas online shopping sites, currency conversion services may be enough to facilitate your transactions. However, banks have provisions for conversion fees for using credit cards using foreign currencies. For that, you need to find out about the exchange rates offered by credit card providers, because some banks even offer currency exchange rates at competitive prices.
In addition to the costs already mentioned, you will also be charged a copy of the bill if you request a printed copy of the bill. This fee generally ranges between IDR 5,000 to IDR 35,000 depending on the type of credit card and the bank that provides your credit card. Alternatively, you can ask the bank to provide you with a copy of the bill in the form of an email .
Card Replacement Fee
If you lose your card, or your card is damaged, you can make a replacement card. However, of course there are other additional costs that you need to pay with a different amount depending on the bank policy of your credit card provider.
Installment Cancellation Fee
If you pay off the installments before the installment period expires, you will also be charged a different additional fee depending on the bank that provides your credit card. However, in general the cost of canceling installments ranges from Rp 200,000 to Rp 250,000.
Check / Giro Return Fee
Check / Giro Return Fee will be charged to you if you make a credit card bill payment using a check / checking account that must be processed using clearing first. The cost of returning checks / checking accounts is generally around Rp25,000.
Identify Credit Card Fees Before Submitting Online Credit Cards
By knowing the costs that you will incur when you have a credit card, you can more easily calculate the bill costs that will be charged with you and whether it is commensurate with the benefits that you will get by having a credit card.
Do you have a credit card before ? What is your experience while using a credit card? Share your experience in the comments column and share the information listed above with colleagues and acquaintances so that they can be more careful in making credit card submissions , thank you.