The conditions are well defined and even spoken to by customer relations guys... 2 months in U.S and not single rs paid as FE charges. source money locally or have sbi travel card with which you can draw cash. If frequent traveller get a local credit card or add on card on a local guy so you don't have to pay ... Such charges should be done away for retail users upto a limit so that the inconvenience is reduced.
All the above charges are mentioned in the respective bank's website.When you are travelling abroad without the risk of carrying cash, paying 5% is the premium you have to bear. Also if you are affordable to go abroad, this amount is negligible. If you use credit card properly, it's the best of doing transactions without the risk of carrying cash.
First and the best thing to do is use the credit card internationally only in case of emergency. The charges of approx six percent does not include sometime exchange conversion rates which are much more than you may think or expect to be charged. Even domestic transaction involves exorbitant charges e.g. 36 to 42% interest late fees penalty in case you miss the due date or send the payment or drop the cheque late or some time send the payment and make mistake in writing the card no. As Mr Rajendra Tripathi has said the interest will be calculated from the date of your spending and on full amount and not on shortfall. These banks are like our old Sahukars who were always cheating the poor persons so that he always remain in debt inspite of paying 5 to 10 times the amount he may have received as loan. So always pay your amount before time and not wait till due date and do not use card internationally unless absolutely required.
THESE ARE CHEATING CARD PROVIDERS VERY HIGH RATE OF INTEREST IS CHARGED THROUGH CHEATING CARD FOR PURCHASES MADE AT MERCHANT OUTLETS WITHOUT INFORMATION USE ALWAYS DEBIT CARD DO NOT ALLOW YOURSELF TO BE CHEATED EVERYBODY SHOULD RETURN THECREDIT CARD AND SAVE MONEY AND AVOID GETTING CHEATED
Be careful of local usage charges also. HSBC SBI and most banks charge interest on total outstanding if you anything less than the total amont due. Check with your cc and they will write about the charges in gibberish english. Fact is as per GAAP the interest should be charged on amount outstanding and not on total dues.
