Credit cards are very useful and indispensable financial tools with a huge user base. Credit cards come in different categories and these categories define the type of card you are using. These categories do not only limit to fuel, shopping, or travel credit card but also includes beginners, premium, and super premium.
Every credit card has different charges and rates levied by the bank as per their policies. These rates are different from one another depending on what type of card you have and sometimes your credit history and score will also make an efficient impact on your interest rates.
There are credit cards that come under a lifetime-free scheme, some have spend-based waiver benefits on them which makes the credit card overall free. However, credit cards do have their joining and renewal fees which you will be charged.
Annual fee – To keep your account open, you will be charged an annual fee as a one-time charge on your credit card. Some credit cards charges fee monthly and some annually.
There are other charges which are add-ons such as reward redemption, interest rates, cash advance fee, etc. These charges also come under the fee section where every card has a different interest rate, and other charges as well.
Charges and Fee on different cards by ICICI Bank –
Here is a list of different credit cards from ICICI Bank with the levied annual charges by the bank with
1. ICICI Bank British Airways Classic Credit Card –
Joining fee – Nil
Annual Fee – Rs. 3,500 + applicable taxes
2. ICICI Bank Signature Credit Card –
Joining fee – Rs. 25,000 + applicable taxes
Annual Fee – Rs. 25,000 + applicable taxes
3. ICICI Bank HPCL Titanium Credit Card
Joining fee – Rs. 199 + applicable taxes
Annual Fee – Rs. 199 + applicable taxes
4. ICICI Bank Platinum Identity Credit Card
Joining fee – Rs. 2,000 + applicable taxes
Annual Fee – Rs. 2,000 + applicable taxes
Different types of charges levied by the bank on credit cards –
1.Cash advance fee – 2.50% on all credit cards or subject to a minimum of Rs. 500
2.Late payment Fee – can be anywhere from 0 to Rs. 1,200
3.Return of Cheque – 2% of the total amount of Rs, 500 whichever is minimum
4.Over-limit charges – 2.50% on the over-limit amount or a minimum of Rs. 500
5.Card replacement fee – Rs. 100
6.Foreign transaction fee – Mark up fee of 3.50%
All these different charges are subject to change under the bank’s policies and the bank has the sole
right to make changes in these rates.
Whenever you get any credit card from a card issuer, they usually come with joining, yearly or annual
rates which you are supposed to pay to use your credit card. Different cards from different categories
may charge you a different annual rate depending upon their features and cases. Entru-level credit
cards have fewer benefits on offer and charge basic or in some cases zero annual fees. On the
contrary, super-premium credit cards offer top-of-the-line privileges and charge a high annual fee.
ICICI Bank Credit Cards are available from as low as Rs. 500 to Rs, 1,25,000 with annual fees. Make
sure to go through the charges and fees associated with an ICICI Bank Credit Card before you apply