It’s easy to get a can paypal take credit cards for entrepreneurs because many customers use credit card payments. However, before making sure you make a credit card because you are interested in the various promos on offer, it helps you know that the fees you must pay for credit cards are not only costs that you “borrow” from banks, but there are many other costs.
1. Overlimit Costs
Credit card customers must know the exact limit or limit of credit card transactions they have, both shopping limit transactions and cash withdrawal transactions.
If you transact using a credit card exceeding the card limit, you will be charged by the bank. The amount of the penalty varies, but the average credit card issuer charges an over-limit fee of around 5 percent of the transaction.
2. Financial Charge
This fee will be charged when you are due, you only pay the minimum payment, do not pay in full payment or you are late in making the payment.
3. Late Fees
This fee is called a late charge fee, meaning that if you have not made a payment when it is due, then you will be affected by a late charge.
4. Cash Withdrawal Fees
This fee is only charged when you withdraw cash through an ATM. Usually, around 4 percent, judging from which nominal is greater.
Please note, if you withdraw cash at an ATM, you will be charged two types of cash withdrawal fees and finance charge fees.
5. Bill Printing Costs
This fee is charged when you request a bill in a physical or printed form. Deferred costs between $ 1 and $ 2.
6. Credit Shield
This fee is in the form of insurance with the aim that if a problem occurs, dies or is permanently disabled, then all bills will be covered with a credit shield. It is optional and is usually charged around 0.6 percent of each bill.
7. Foreign Currency Conversion Fees
Credit cards are said to be far more useful for people who have high mobility such as businessmen or travelers. As a non-cash transaction tool and supported by global networks such as Mastercard or VISA, credit cards can be very useful for travelers to avoid the hassle of carrying cash everywhere.