4. Charges on exceeding credit limit

Did you exceed your credit limit unknowingly? If so then your credit card company will charge an overdrawn fee. This fee charged is nothing but a certain percentage of the overdrawn amount subject to minimum and maximum amount like 5 Percent of the overdrawn limit. Some of the banks may levy a charge which is equivalent to the percentage of the amount overdrawn and there are others who impose a maximum of 10 percent fee. So, it is better to minimize your card usage when you have a fear that you are nearing your limit.

5. Charges on cheque books and on its usage

There are many banks that now offer payable-at-par cheques, which are treated as local clearing cheques across all the bank branches. While there are other private banks that offer at least one such free cheque-book per quarter; there are banks that charge 3-25 per cheque. It is better to read through your bank’s schedule of charges and if you don’t find it necessary then decline such a cheque-book.

Don’t be happy if your bank does not offer such a cheque book; instead be prepared to pay extra for cash transactions at branches in different cities.