8 Ways to Become Smart About Your Credit Cards
6. Late Payment Fees
Often many people end up paying huge amount of interest as they fail to pay their credit card debt within the due date. It is always advisable to pay the outstanding amount on your credit card before the due date to avoid late fine fees.
Along with the late fine fees, you will also be charged for interest on the billed amount and proportionate service tax. These charges can be easily avoided if you are regular in paying the outstanding amount of your credit card.
7. Cash Advance Fees
In a traditional manner this is not considered as fees. At times it is collected as an interest charge or a processing fee on any short term loan taken on your credit card by you, usually the charge ranges between 3 to 5 percent.
It is advisable to use this charge only in emergencies. These charges are higher if the amount is withdrawn abroad. You can call your bank and know how much you will be charged.
8. Annual Fees
While offering the credit card the providers will promise that you will be getting good returns for each and every single penny spend. But when you actually account for the money you have spend using your credit card, it is found that the returns are very marginal.
Rather than taking cards for which you have to pay annual fees, you can opt for cards which come with out any annual fees.
