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Credit Card Tips: Credit card holders should be careful, if you do this work you will have to pay an extra charge...

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After rent payments, banks are imposing additional charges on utility payments made through credit cards. Now Yes Bank and IDFC First Bank have also been included in this list. The bank has announced that they will charge an additional 1 percent on all payments made using their credit cards from May 1, 2024. Customers will have a free credit limit of Rs 15,000 for Yes Bank, and Rs 20,000 for IDFC First Bank.

This means that if a Yes Bank credit card holder pays a utility bill of less than Rs 15,000 in a credit bill cycle, they will not be charged any additional charges, but if it exceeds Rs 15,000, they will be charged 1%. Along with this, 18 percent GST will also be charged on it. The same rules apply to IDFC First Bank Credit Card, but its credit-free limit is Rs 20,000 instead of Rs 15,000.

The tradition of reward will end

Till now, companies used to provide rewards for credit card usage. Whereas now they are charging. Now the question is why are banks charging these charges? A simple answer to this is that they are getting less margin by not charging charges. Therefore he is recovering his profit through this charge. Let us tell you that there are some apps and websites, such as BharatNXT, which provide business payment services using credit cards. People can pay their bills using these platforms.

However, regular consumers should not worry about these additional charges. All banks that have started charging extra on utility payments provide free credit limits to their customers. Currently, this limit can be anywhere from Rs 10,000 to Rs 20,000, which is a decent range for a normal Indian family. For example, when Yes Bank first announced its decision to charge an additional 1 percent on utility payments using its credit cards, there was no free usage limit of Rs 15,000.

You can save money like this-

If you want that you do not have to pay separate fees for utility bills, then you can use a RuPay credit card. This card does not charge a single rupee on merchant payments. If you transfer money through UPI. In such a situation, users get a month to pay the credit card bill easily.

The credit card you swipe at the petrol pump. Start using a RuPay Credit Card by scanning it with the UPI scanner present there. With this, you will not only save your money. Rather, you will also be able to ensure your contribution to Digital India.

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