New Delhi : Credits cards are becoming increasingly popular among the urban population as they help in providing a lot of respite in the times of financial crunch. Credit cards are a better medium to meet immediate money needs during emergencies. However, there are some fees associated with these cards which are very high.
While a bank may claim that the credit cards are free, users must understand that there few hidden charges attached to the cards. Therefore, people using credit cards should be aware of these fees.
Here are the hidden charges that come with credit cards:
Maintainance Fee: Many banks offer free credit cards, which usually means that the joining fee and annual charges are waived off for the first year. However, post the initial 365 days, the bank starts charging a maintenance fee from the user.