The purpose of the credit card for me is not to borrow money from the bank.

I have some international vouchers to redeem. The vouchers work by transferring the credit to the credit card. In simple words I need a credit card to deposit money online.
I would like to know:

  1. If I don't use credit card to borrow money or to pay bills or what ever do I still have to pay interest charges or fee?
  2. Is it possible that I can deposit money (voucher) without using my credit limit and withdraw the exceeding amount. If yes then what are the charges to withdraw via atm? Is there any limit?
  3. Related to above (2) instead of withdrawing cash can I transfer exceeded funds to x y z bank account? Is there any limit?

I would really appreciate if someone can give me answers quoting website links or something. I am poor in banking.

  • Question as to which is best is not fine on this site as it would become outdated quickly. I have modified your question to make it more generic. – Dheer Jan 8 '14 at 5:48
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    If you never use the card to make a purchase the card issuer may decide that you are not using the card, and decide at some point the account should be canceled. – mhoran_psprep Jan 8 '14 at 11:13
  • I don't know what it's like in India, but if you have something like our "Pre-paid Debit Cards", that might be what you're looking for? – Yamikuronue Jun 7 '14 at 11:46

1.Charges or Fee: These are only applicable if you buy something use Credit Card and do not payback in time. Otherwise if you just have a Credit Card, most of them are free. There are some that charge annual fee. You will know when you apply for a card.

2a. Depoist Money [Voucher]: You can deposit money on your card account by check, or online transfer or by visiting the Bank Branch. I am not sure what Voucher you are talking about. You will have to find that out from the company that issued the voucher.

2b. Withdraw from ATM: Withdrwals are charged typically 5%, plus fixed Rs 50. Plus interest if you have not paid back in time. Are you are having excess money, there will be no interest charge. Check with the card on the exact charges.

3.Excess transfer to Bank: The excess can be transferred to Bank account by making a request to the Card Company and giving out the details. The Card Company would have a defined timeline for this.

Most of the Banks that issue cards have a policy not to keep excess deposits longer. What you are trying to do it not a routine transaction and depends what you are trying to achieve.

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