Have you ever got charged interest on a credit card?

[kochiro]

There could be multiple reasons for it going from missing the due date, entering the wrong due amount, delay by app or website, delay from the bank to accept your payment, receiving a statement late to having no money to pay. I hope you would like to share your experience so that we can learn from it.

 

[kochiro]

I heard that banks can only afford to give discount as much as 5% flat to exclusive 10% only because of emi and late payment with interest. MDR mostly break even for them.

 

[CMGCMG is verified member.]

exclusive 10%.

There will be a deal with the product company too.

 

[RAMESH BABU N]

I am proud to say that I NEVER EVER paid ANY INTEREST, ANY LATE PAYMENT FEE on any of my 36 closed CCs or on my 11 existing CCs. I have been using CCs since 1985 but maintaining my own database n analysis since 1990.

I NEVER opted for EMIs. I ALWAYS PAID my bills - in full - rounded off to the next hundred (till recently) - and about a week before the due date. Nowadays, I am forced to round off to the next ten.

I DO NOT wait for their monthly statements. So, I never ever defaulted. I maintain my own .xls files for all my CCs n expenses.

I paid/pay only annual charges.

I do not give my referral to anyone. Except my own family members. Never even to friends. NEVER stood as a guarantor or surity for anyone else. Nor had taken any loan from others/outsiders (than my own employers - PNB n SBI). ALL THIS DUE TO VERY STRICT SERVICE CONDITIONS which are in tune with my likes.

 

[Swastik]

Never,

While i understand banks make most money from late payment fee's and intrest charges on credit cards,
these are people who are not financially responsible, maybe young, immature and trying live beyond their means
or not so young and mature enough but have fallen on hard times financially

However this number is going down between financially literacy going up and banks becoming more cagey with issuance of their credit cards

 

[Swastik]

I am proud to say that I NEVER EVER paid ANY INTEREST, ANY LATE PAYMENT FEE on any of my 36 closed CCs or on my 11 existing CCs. I have been using CCs since 1985 but maintaining my own database n analysis since 1990.

I NEVER opted for EMIs. I ALWAYS PAID my bills - in full - rounded off to the next hundred (till recently) - and about a week before the due date. Nowadays, I am forced to round off to the next ten.

I DO NOT wait for their monthly statements. So, I never ever defaulted. I maintain my own .xls files for all my CCs n expenses.

I paid/pay only annual charges.

I do not give my referral to anyone. Except my own family members. Never even to friends. NEVER stood as a guarantor or surity for anyone else. Nor had taken any loan from others/outsiders (than my own employers - PNB n SBI). ALL THIS DUE TO VERY STRICT SERVICE CONDITIONS which are in tune with my likes.

That's some Above and Beyond level of financial discipline