10 Hidden Charges to Watch Out for in Your Credit Card Statement

It’s important to carefully check your credit card statement for hidden charges that could affect your finances. Here are 10 key things to watch out for:

1. Minimum Payment: Check the minimum payment listed. Paying only the minimum can lead to extra interest charges.
2. Late Fees: If you miss a payment, the bank may charge late fees. Make sure to pay on time.
3. Additional Charges: Exceeding your credit limit may result in over-limit fees, which could be hidden in your statement.
4. Interest Rates: Ensure the interest charges are correct and check if you’re being charged a higher rate than expected.
5. Transaction Fees: International transactions may have extra fees. Look out for these on your statement.
6. Cash Advance Fees: Withdrawing cash using your credit card usually comes with a fee. Avoid it if possible, and report any unrecognized charges.
7. Reward Points: Verify that the right number of reward points have been credited to your account.
8. Annual Fee: Some cards have an annual fee, which may not be obvious. Check for it in your statement.
9. Offers and Discounts: Banks offer promotions, but they may come with hidden fees. Make sure you understand the full terms.
10. EMI Charges: If you’ve converted a purchase into EMI, check for any extra charges or interest.

By checking these points regularly, you can avoid surprise fees and manage your credit card wisely.