Frequently Asked Questions About Credit Cards

You have reached HaloMoney's credit card FAQs page. Find answers to some of the most commonly asked questions about credit cards and credit card applications in Indonesia. For additional reference, you may also go to our main guide to credit cards or the credit card glossary of terms.

Find Out Answers for All Of Your Questions About Credit Card At HaloMoney

First, interest fee. Providers will only charge interest if you don’t pay bill in full.

Second, annual fee. This fee is charged for maintenances and services provided by the providers. However, some banks waived this fee on first year to attract potential customers.

Third, withdrawal fee. You can use your credit card to withdraw cash from ATM, but you will be charged around 3-6% from amount you withdraw or Rp 50.000 (depends on which one is highest)

Fourth, late payments charge. If you are failed to pay minimum amount of 10% until the deadline, bank will charge you for making late payments. The amounts is varied for each bank.

Fifth, credit card bill printing fee. Providers will charge you for bill printing fee. However, you can ask providers to send it via E-mail if you are more comfortable with electronic bill.

Sixth, stamp duty fee. If you are making purchase starts from Rp 250.000 to Rp 1.000.000, bank will charged you Rp 3.000 for stamp duty, and Rp 6.000 if you are making purchase above Rp 1.000.000.

Every credit card has a ceiling – a limit on the amount transactions charged on it. The ceiling depends on various things, including type of credit card you apply for, annual salary, and historical information from previous card usage.

Every credit card is equipped with security systems to verify transaction. There are currently two types of verification process in Indonesia, signature proof and 6-Digit PIN. In 2020, all verification must be done by inserting 6-Digit PIN to EDC machine. If your credit card is missing, tell your bank immediately and the bank will block your credit card. If you are charged with something you did not buy, you can request the bank to block the payment process.

Based on Bank Indonesia regulations, credit card applicants must be at least 21 years old and earn a minimum of Rp 3,000,000 (three million rupiahs) per month. You are suggested to get a credit card once you have steady income. You need to be smart in using the card. Do not treat the availability of a credit card as a chance to buy anything you want without strong financial capability.

Every bank has a variety of credit cards with different offers, including ceiling and promotions. First, you need to know which type of credit card you need. Then, choose the offers that suit your ability and need. For more help, click on HaloMoney's comparison tool to know which credit cards suit your needs.

Bank Indonesia regulations state that those with monthly incomes of Rp 3,000,000 (three million rupiahs) – Rp 10,000,000 (ten millions rupiahs) per month might only have maximum two credit cards. The credit card ceiling for those in this income bracket is three time of income in order to prevent bad credit. Remember, the more credit cards you have, the more annual fee you need to pay. Choose card that you think will be used frequently and gives lot of benefit.

That depends on your ability to pay credit card bills, and your needs. For example, if you have your own business, you can use one credit card for your business, and the other for your personal needs. If you don't travel a lot, then apply for credit card with airmiles reward might not be beneficial for you.