Undoubtedly, credit cards are considered to be one of the most convenient financial processes which are primarily used for everyday purchases. Starting from purchasing necessary household goods to grocery products, you can almost buy everything with the help of a credit card. Additionally, the credit card companies provide the cardholders with an opportunity to earn one or more reward points at every spending. Even, credit card users can acquire bonus points for spending in certain restaurants, gasoline, or other high-budget places.
Spending on a credit card can provide you with a plethora of benefits. But at the same time, you should be aware of the potential downsides that can adversely impact your standard of living. Credit cards often come with charges that an individual fails to repay or might exceed the credit limit. And, some of these credit card charges are mandatory for every cardholder; some of them can be avoided, but some need to be cleared immediately. So, if you are unable to write off the credit card charges, Debt Advice Help is there to help you.
We have deployed the best advisor who can assist you in paying the credit card charges in a manageable way. Additionally, we help our clients to acknowledge the different charges that are associated with a credit card. So, if you are planning to get a credit card, contact us straight away.
When an Individual has to Pay for the Credit Card Charges?
With the advent of numerous credit card facilities, countless users across the world have purchased credit cards. Especially, when you already have a lump sum amount of debt to pay, it becomes quite cumbersome to even spend a bare minimum amount of money for fulfilling your basic needs. This is where a credit card plays an imperative role by offering individuals the opportunity to borrow a considerable amount of money from the creditor. However, when you won’t be able to pay back the money within the stipulated time, they will add additional charges with the remaining balance.
Therefore, before taking a credit card, it’s important to acknowledge the type of charges that are linked with it. And, we, at Debt Advice Help, know what consequences you might have to face in the coming days. Even, our debt advisors help the clients by informing you about the number of different credit charges. Here, we are compiling some of the credit card charges, that every cardholder must know about:
Annual Maintenance Charge
Do you know that there is an annual maintenance charge linked with every credit card? No! Then, simply, get an insight from the experts of Debt Advice Help. We have managed to team up with knowledgeable professionals who have extensive ideas about the maintenance charges of the different banks in the UK.
In most instances, annual fees are difficult to avoid, but with our assistance, it can turn out to be the easiest process. It’s obvious that an individual has to pay this amount at the end of the year, but the amount varies from one card to another. Certain banks usually offer free credit cards, this simply indicates that the users don’t have to pay any additional charges annually.
When you are offered a “free” credit card, it’s always better to acquire knowledge about that. Simply, contact us before taking any credit card. We will confirm whether the card will remain free of annual maintenance charges for a lifetime or just for a limited year.
Late Payment Charges
When you will be unable to gather the bulk amount of money that you have borrowed from the bank recently, a late payment charge will be levied. Additionally, some banks give credit card users the privilege to pay the minimum amount, when they are having a severe financial crisis. And, when you won’t be able to even pay the minimum amount, the bank will take a late payment fee based on the statement balance.
Make sure to avoid this type of credit card charge by paying the bill early or on time every month. If you fail to do so and the credit card payment remains unpaid for more than 60 days, the card issues can enact a penalty APR against you. And, this penalty APR will be relatively higher than the ongoing APR of the credit card.
At that point, you have to further take money from the respective banks for repayment. So, it’s better to avoid the late payment altogether, and our professionals have helped more than 100+ clients in paying the credit card charges within time. If the bank is charging a late payment fee for not paying back an amount of £12, then immediately let us know. Our experts will even negotiate with the bank managers to reduce the repayment amount.
Can a Seller Charge Extra for Using a Credit Card?
From 13th January 2018 onwards, as per the rules of the UK Government, a seller can’t purchase extra from credit card users. And, if you are charged more, you should immediately take legal action and for that the contribution of Debt Advice Help is remarkable. We will inform you about the legal steps that you should implement to enhance the chances of winning a case.
However, if the bank, from where you have taken the credit card, is outside the European Economic Area, then you can be charged extra. So, simply avoid the unwanted inconvenience by joining our erudite team. We are a leading debt-solution company that acquires widespread recognition for offering the best solution to avoid additional credit card charges.
Can a Credit Card Holder Withdraw Cash?
Yes! Undoubtedly, every credit cardholder can withdraw the remaining amount of credit balance in the form of cash. But, getting cash from a credit card can increase the stress burden. Because the interest rate for cash withdrawal is relatively higher than the interest rate for credit purchases.
So, before taking out a considerable amount of cash, get prompt advice from us. Our associates will guide in knowing the interest rate that will be added for taking out the cash. You might even have to pay a cash handling fee, so think before taking any further decision.
How can We Assist you to Avoid Paying the Credit Card Charges?
When it comes to owning a credit card, you have to pay a certain amount of interest or charges in the coming days. Because, it’s not always possible to pay off the credited amount within the given time, especially when you have already invested a large amount of money in buying your favourite car or gadgets. This is where Debt Advice Help plays the most significant role in helping the credit cardholders in their time of need. Simply, state the payment amount and the type of credit card charges imposed upon you.
Based on that, our skilled experts will tell you how to manage the credit card so that you don’t have to further incur additional charges. Whether you have exceeded the credit limit or recently transferred the remaining balance from one credit card to another, we got your back. And, being an eminent debt solution provider, we would highly recommend not to use a credit card to withdraw cash. Our professional team successfully states the borrowing limit and the obligations associated with a credit card.
Best Credit Card Advisors are Ready to Assist You
Are you planning to move outside the United Kingdom? Then, simply reach out to our super-responsive consultant team beforehand. Because it’s high time to be aware of certain factors that get involved while you are using a credit card outside the UK. So, simply call us and immediately clear out all your credit card charges related queries.