8 Ways to Become Smart About Your Credit Cards
4. Balance Transfer Fees
This is a kind of trap usually people do not understand. Usually people keep on transferring their balances from one card to another thinking this will help them to lower their credit card debt. But at times the bill surge up four times the money they actually can use. It is advisable to maintain only one card and pay off the outstanding amount on time. Yet make sure that you dont excede your financial borders.
5. Foreign Currency Conversion Fees
This is a financial service in which holders of credit cards have the cost of a transaction converted to their local currency when making a payment in a foreign currency. Generally the charges are around 1-4 per cent of the transaction charges.
Make sure that you know the charges your card provider calculates before you leave the country.
