HDFC Credit Card: Late payment charge being revised from April 1, 2019

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Updated: March 29, 2019 1:52:44 PM

For a healthy credit profile and to keep the credit score high, make sure not to roll over the outstanding balance on the credit cards on to the next month.

 HDFC credit card, credit card statement, HDFC credit card payments, credit score, late payment chargesOnly when the credit card outstanding amount is paid in full by the due date, the interest charges do not apply.

Making credit card payments when they are due goes a long way in not only saving money but also in maintaining a healthy credit profile. HDFC credit card users need to be aware that the HDFC Bank is revising its late payment charges from April 1, 2019. As a credit card user, make sure to make the HDFC credit card payment by the due date as per the credit card statement.

The late payment charges will be applicable on all their cards except on the Infinia cards. The charge will vary depending on the outstanding balance on the account as generated in the statement. Typically, the due date is 45-51 days from the date when the credit card statement is generated.

Here are the revised charges on the HDFC cards, excluding the Infinia cards:

Statement balance: Rs 100
Late payment charges till March 31, 2019: Nil
Late payment charges from April 1, 2019:

Statement balance: Rs 100 to Rs 500
Late payment charges till March 31, 2019: Rs 100
Late payment charges from April 1, 2019:

Statement balance: Rs 501 to Rs 5000
Late payment charges till March 31, 2019: Rs 400
Late payment charges from April 1, 2019: Rs 500

Statement balance: Rs 5001 to Rs 10000
Late payment charges till March 31, 2019: Rs 500
Late payment charges from April 1, 2019: Rs 600

Statement balance: Rs 10000 to Rs 25000
Late payment charges till March 31, 2019: Rs 750
Late payment charges from April 1, 2019: Rs 800

Statement balance: More than Rs 25000
Late payment charges till March 31, 2019: Rs 750
Late payment charges from April 1, 2019: Rs 950

The late payment charge on any card is levied when the cardholder fails to pay at least the minimum amount due by the due date. On every credit card, the minimum due amount is 5 per cent of the total outstanding amount. In order to avoid the late payment charges, one should ensure that at least the minimum due amount is paid on or before the due date. In doing so, one will not be required to call the HDFC credit card customer care to either waive the charges or explain the reasons for the delay.

On the due date, a cardholder has three options – Either, pay a minimum of 5 per cent of the outstanding amount or make a partial payment or pay the entire credit card outstanding amount in full. Only when the card bill amount is paid in full, the interest charges not apply.

Remember, the payment made should get credited in your credit card account on or before the due date to avoid charges and penalty, subject to the grace period, if any. For a healthy credit profile and to keep the credit score high, make sure not to roll over the outstanding balance on to the next month.

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