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Banks are charging 1% fee on utility payments using credit cards: Here's why

Earlier this month, Yes Bank and IDFC FIRST Bank declared that the credit card customers will have to pay a higher amount as fees for paying utility bills, but there is also free usage cap. 

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Why are banks charging 1% fee on utility payments using credit cards?

Yes Bank and IDFC First Bank recently imposed additional charges if you pay utility bills using your credit cards. These payments used to earn a credit card user a tiny set of reward points. Not anymore. But there’s a reason.

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