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what are FIN Charges on Retail in credit card statement

Let me explain what FIN Charges in Retail mean on your credit card statement.

  1. FIN CHARGE ON RETAIL:
    • When you see “FIN CHARGE ON RETAIL” on your credit card statement, it refers to Finance Charges.
    • These charges are applied when you don’t pay the full amount of your credit card bill by the due date.
    • Finance charges represent the interest that companies charge based on the period and fixed rate of interest.
    • If you’ve paid only the minimum amount due, the remaining balance attracts these finance charges.
    • It’s the cost you pay for having credit extended to you through your card for shopping or other transactions.
    • Additionally, you might also see charges like ST (Service Tax), SBC (Swachh Bharat Cess), and KKC (Krishi Kalyan Cess) on your statement.

Remember to manage your credit card payments wisely to avoid these charges. Feel free to share this information with others to spread awareness about banking terminologies! 😊

2 Comments

  • joy

    2019-04-02 21:56:35

    What if I paid 98% of the amount ?

  • nizam

    2020-04-17 13:51:34

    sir, 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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