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What are FIN CHARGES ON RETAIL in Credit Card Statement ?

After generation of your monthly credit card statement have you noticed that it has been debited with an amount called as FIN CHARGE ON RETAIL ? After viewing it, you are thinking to call and ask customer care of your Credit Card company. So, please stop, you can get the answer here.

What are FIN Charges in Retail

This screenshot belongs to State Bank of India (SBI) Credit Card. Where I saw FIN CHARGE ON RETAIL in my credit card with an amount of Rs. 3,529/-.

The term FIN CHARGE ON RETAIL stands of Finance Charges. Which has been charged over you for not paying the full amount of your credit card bill. It is that interest amount which companies charge according the period and fixed rate of interest.

If you have paid the minimum amount to the company of your credit card bill. Than they are liable to charge interest rates over the remaining amount.

Finance Charges are actually that amount which you are supposed to pay as interest credit which you used on shopping or other things through your card.

You would also have been charged by ST, SBC & KKC on that amount.

Read HereWhat are ST, SBC & KKC in Credit Card Statements ?

So, don’t be surprised. I hope this article was useful for you. Aware others too with banking terminologies.

{ 2 comments… add one }
  • joy April 2, 2019, 9:56 pm

    What if I paid 98% of the amount ?

  • nizam April 17, 2020, 1:51 pm

    i was supposed to pay my credit card bill (Rs 22394)for the month February on march 28th,the minimum amount to be paid was Rs 1634 .But on 28th march i paid Rs 2000 and On march 31st i paid 21000.But the current month statement shows Fin charges on retail as 1389.63 + 250.14(tax) . Is it correct to take this much amount ,since i have paid full in 3 days from due date?

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