November 30, 2019

Top 5 Credit Card Rates

Credit card charges can sound daunting to many people who do not have a good financial education. But few know what they are, what each is for, and whether cartoons are required on all cards.

The reality is that credit card charges are limited to five types of payment. This rule is guaranteed by law and was created by the Lightyear Bank. Prior to this initiative, about 80 credit card fees were charged.

Credit card charges may vary by bank and usage. Some card fees may even be exempt by the bank, but there is no order for banks to offer services without any payment.


Top Credit Card Rates

Credit loan

Five-charge billing protection ensures that the credit card cannot be charged for any additional charge beyond

  • Annuity;
  • Withdrawal fee;
  • Duplicate issue fee;
  • Bill payment rate;
  • Emergency credit assessment.


money loan

Credit card annuity is a charge that may be charged for your use.

That is, the requested value refers to the operation and maintenance of the service. This amount may be debited only in annual installments or monthly installments.

The annuity value of a card is variable and stipulated by the banking institution. In some cases, the higher the benefit of the card, the higher the annuity rate.

However, there may be zero annuity offered to the customer who makes good use of the card and to large customers or to new customers.


Cashout Rate

interest Rate

The withdrawal fee is an amount for a credit card loan. In this use, when the client of the financial institution withdraws a value, the billing is made the following month.

Collecting the value of the credit card withdrawal comes with interest and taxes on financial transactions, the famous IOF.


Second way issue fee

The duplicate issue is charged in case of card loss or theft.

However, this fee may not be charged on the issue of the first copy in the event of loss due to financial institution liability, technical problem or expiration of the card’s validity.


Bill Payment Fee

The bank may charge additional money when the bank customer pays bills such as telephone, water, electricity and gas by credit card.

Because just like the withdrawal with the card, the bill payment is also read as a loan.


Emergency Credit Rating

If your customer needs to make a purchase that exceeds your credit limit card, you can request a reevaluation of the limit. However, the banking institution can buy for this service. Like other fees, the amount is variable and defined by the bank.

It is important to remember that the only credit card fees that can be charged by banking institutions are restricted to the five modalities of services. For more tips like this, subscribe to our WhatsApp newsletter and get even more free content!