Avoiding credit card fee-Is it possible?
Grace Periods
The moment you make a purchase, interest starts accruing to your credit card. It is always advisable to pay off before interest accrues on the purchase. Some of the companies allow grace period before interest is accrued whereas some companies do not facilitate with grace period. In case if it is noticed that your credit card company does not provide grace period, it is always advisable to pay off after the purchase so that you can avoid interest and make use of the credit card, as well. A grace period is the time which allows you to pay the balance even before interest is charged. Fully make use of this facility and get rid of bad debts.
Late Fee
Of all the types of fee, late fee is the most expensive fee charged for late payment. Users with number credit cards and bills may delay in payment which causes misery and experience heavy late fee unknowingly. Moreover, users who are on the verge of credit limit will be triggered with over-limit fee in addition to late payment. Late fee generally charged upto ?35. By the time you come into senses and realise, an amount of ?35 is charged which is a sheer waste of money. So, paying bills in time is a wise idea. Mode of payment can be through direct debit or make use of on-line banking to gear up payment process to avoid late fee and other consequences. If you still can not pay through the above mode of payments, you can directly call the representative of credit card company and who in turn may understand the difficulty in right perspective and waive off late fee. Such facility again depends upon your credit card history.
Annual Fee
This is another costly fee charged by the credit card companies. Though annual fee is slowly diminishing in the credit card industry, still some reputed companies are charging annual fee for gold and platinum credit card users. Unless utility of the credit is beneficial to you than the annual fee, it is better to move to another card.
Not More than the just fee!!
If users unaware, money is lost on the name of late fee. For example, if you fail to pay in time several times, credit card companies may remove low interest rate on your card. Cards with large amount of balance may end up with loss of money. In order to avoid waste of money towards late fee or penalty fee, it is advisable to pay the bills in time. Before entering into the contract, full awareness of terms and conditions is an added advantage.
A good deal more content regarding no annual fee credit and apr credit
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