How To Minimise Your Credit Card Fees & Charges

Credit Card Fees are one of the main reasons for accumulating debt. People often take on credit card ownership without fully understanding credit card fees

They then spend too much or make little missteps in their bill payment that lead to excessive credit card fees and a very large bill. If you want to stop paying these fees or get your first credit card it is important that you understand how the fees work an how to avoid them.

Credit card fees to avoid:

• Cash Advances – Cash advances from your credit card are not a good choice. The credit card company usually charges a higher interest rate for them then they do for purchases and sometimes a fee on top of that. Instead, use the card for your purchases.
• Overseas Travel - When you travel your card will charge a fee for the currency conversion. Instead of just using your card you should try to get one in the currency of your destination or purchase travellers cheques in their currency.
• Interest – Most credit cards have an interest free period for purchases. If you pay your full bill before the end of this interest free period you pay nothing extra, if not you pay the often steep interest rate. You should try to pay the full amount of your bill each month. Sometimes cash advances do not have an interest free period, another reason to avoid them.
• Late Payment – This is a big one. Paying your credit card late will cost you a significant amount in credit card fees. There is a fee for late payment plus they might increase your interest rate or rescind any introductory offers. Setting up a direct debit is the best way to avoid late payments.
• Exceeding Your Credit Limit – Again, you will be charged a fee if you exceed your credit limit. Even if you only exceed it by a few dollars you will be charged a fee that may be more then the amount you are over. Also, if you are charged a late fee that puts you over your limit you will also be charged overage fees.

To avoid paying credit card fees be sure that you understand how your company charges them. Once you understand them take every precaution you can to avoid them. If you can avoid credit card fees you can probably avoid the dreaded credit card debt.

Related posts:

1. Suncorp Credit Card Fees & Charges
2. Aussie Credit Card Fees & Charges
3. How to Avoid Paying Credit Card Fees and Charges
4. How To Minimise Fees On Your St.George Vertigo MasterCard
5. Suncorp Bank Tips: How to Minimise Your Account Exception Fees
6. How To Minimise Your Credit Card Fees
7. How to Minimise Your St. George Account Fees

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
St George Vertigo	Editor's Choice: Low Interest Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.	2.99% for 6 months (reverts to 11.99%)	20.74%	2.99% for 6 months	$55	55
Coles Group Source MasterCard	The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points	19.74%	21.99%	0% for 6 months	$0	62
Bankwest Zero Platinum MasterCard	Editor's Choice: No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers	16.99%	16.99%	1.99% for 9 months	$0	55