Credit Card Fines

There is something inexplicably beautiful about credit card fines. At least, this is how it is in India with my SBI credit card.

Last month, I could not pay by the due date since I was in Calcutta and without internet access. So, I get a statement which gives me a double whammy:

Interest on credit: INR x (Fair enough)

Late Payment: INR 700 (!!!!)

The bank is charging me money to pay my own interest ! No wonder, most salaried Indians pay up their credit card bills in one go before the due date.

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