Seven commandments to avoid credit card fee
Trends keep changing in all the fields where credit card industry is no exception. The business is prone to increase in the existing fee besides creating and adding new fee. But, the change is not a life and death question for the users and they can as well cope up with the wide spread trend in the business. Like any other business, credit card business is also meant for making profit. When users want low interest rate and more utility with the cards, so also companies deliver the advantages and accumulate profit in the form of fee for providing services. It doesn’t mean that life has come to an end with the fast changing trend in the credit card industry. There are always means and ways to avoid credit card fee.
1.Check e- mail promptly: Credit card companies in general have the tact of sending expenditure statement not before the early date but demand for prompt payment. So that users can not pay in time resulting late payment charge on the card resulting to extra charges and increased fee. In contrary, you can pay by mail and verify to get rid of such late payment problems.
2. On-line payment every time: A better solution than mail check is payment on-line. This confirms payment without getting lost or delayed payment. Above all paying on-line before few days of due date is always a better proposition.
3. Maintain schedule and reminders: Modern life is full of hectic schedule and hardly find time to remember schedules. An organised reminder system to pay each bill in time as per the schedule can help you hassle free life and saves you from paying late fee.
4. Read the fine print: Most popular fee is the annual fee among other fee, charged by the credit card companies. Have a check on the rewards or incentives offered by the companies before sign up. Analyse whether rewards offered are worth when compared to the annual fee charged on your credit card account.
5. Avoid making cash advances: It is always better to avoid cash advances which is a costly affair . A charge of 3% on cash drawing is unusual and better cope up the situation with other sources.
6.Luring balance transfers: Now a days credit card companies are luring with balance transfers charging with lengthy set of fee and ultimately leaving you in a heap of debts. Sometimes though advantageous to transfer large balance on a zero interest card, the whole process is finally cumbersome and not advisable. Such futile exercises can be avoided in order to make use of credit card rationally.
7. Filing copies of statements; always keep filing the copies of statements in tact for future reference or record. If any untoward situation demands, you may need to produce payment details. Even otherwise, credit card companies can provide the details but by paying a fee for that too!!
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