ICICI Bank Have revised your credit card charges from February 10. As per the communication given by the bank to the customers, credit cardholders will have to pay transaction fee on cash advance, which has been revised to 2.50% on the amounts advanced on all cards, subject to a minimum of Rs. 500. In case of check return, the bank will now charge 2% of the total amount payable with a minimum 500.
The bank also revised the late payment charges for all its credit cards except ICICI Bank Emerald Credit Card. Late payment charges vary with the total amount due. If your total outstanding amount is . is less than 100, then the bank will not charge you. Whereas for higher amount the fee keeps on increasing with the increase in the amount payable. The highest amount charged by the bank is 1200 for the outstanding amount of 50,000 or more.
Other big players in the market, such as HDFC Bank, SBI Card and Axis Bank. charging up to 1300, 1300 more respectively for more than 1000 50,000 balance payment.
Here is a comparison of credit card charges of major players like HDFC Bank, SBI Card, ICICI Bank and Axis Bank
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as per latest reserve Bank of India According to the data for the month of November, the number of credit cards has increased by 1.84 percent as compared to October 2021. This increase was over 2 per cent in October’21 and 1.7 per cent in September’21. On credit card spends, there was a month-on-month decline of 11.6 per cent in November, as against a 25.79 per cent MoM gain in October.
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