Credit card distributors always advertise handsome promotional rates just to allure potential cardholders. If you want to become a new cardholder, you must watch out for credit card fees. Although they offer the lowest of interest rates, the credit card company will definitely be getting back at you by embedding extra fees. How to avoid paying them more than what you owe?
Many people just rush into applying to get a credit card without even being aware of all of the accumulated costs. Almost all credit cards come with some hidden fees and unknown charges; and you should always pay extra attention to them before applying.
Almost all cases, all of these fees and extra charges will not even be noticed until it is too late. And you easily end up paying thousands in the end without even realizing it.
Here are some tips to help guide you in avoiding excess credit card fees:
Pay the bill ahead of time
Never wait until you’re the due date arrives before settling payment. Pay off all the necessary charges as soon as you got cash to do it. It is required that all credit card issuers provide at least 28 days grace period.
Try to sign up for an automatic payment facility especially if you are prone to forgetting monthly due dates. This very ideal for people who have multiple credit cards and those who are managing many types of credit lines like car loans, mortgage, and personal loans.
Request for waive
In some cases, wherein an emergency could not be avoided, at the same time you will not be able to make your payment on time, try to call the credit card company immediately and request them to waive some late payment fees and promise to make your next month’s payment on time. In addition, if your records prove that you have become a very reliable client, chances are, you may be granted that wish, thus avoiding additional credit card fees.
Do not go over the credit limit
It is obvious that exceeding your credit limit will automatically cost you extra fees on your bill. Always check your credit account to assure that all the charges are accurate. Before making a large purchase using a credit card, be sure that you have enough credit left. And always keep your credit card spending to just a minimal portion.
Don’t borrow cash from your card
All credit cards offer cash advance features. This provides the cardholder an option to get from their account by withdrawing cash thru the ATM. Although it seems like a good provision, especially in times of emergency, these are charged with very high interest rate. And cash advances are not automatically covered by the grace period; you will incur extra credit card fees every time you make cash withdrawal.