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A Service charge is a fee that can be added onto a
credit account for a number of different actions.
Credit card issuers might apply a
service charge on unpaid balances, on payments
that are not made on time, for exceeding a
credit limit, and more. The amount of the
service charge varies and often is based on the
reason it was triggered. A service charge usually
will be either a flat fee or a percentage of an
account balance or purchase. Some merchants can
now legally pass on their
service charges (the fees they have to pay
credit card processors) to customers who pay
using
credit cards.
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