How To Minimise Your Credit Card Fees & Charges

Featured No Annual Fee Credit Card

Avoid ever having to pay credit card fees with the HSBC Credit Card which features $0 annual fees for the life of the card plus 55 days free on purchases. This means you will not be charged any credit card fees provided you repay your balance in full each month

• $0 annual fee
• 16.99% p.a. on purchases
• 0% p.a. for 6 months on balance transfers
• Cash Advance Rate of 20.75%
• HSBC’s home&Away Privilege Program gives you access to discounts and benefits worldwide

Click here to read the HSBC Credit Card terms and conditions

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.

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.

• Comparison of Top 10 Credit Card Offers

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)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0