Credit card bills can cost a lot of money. They can sometimes just be too expensive. Depending on how you use your credit cards, how much you spend, and how disciplined and in control you are of your own spending, you may or may not have trouble paying your credit card bills when the bill comes in the mail at the end of the month. No matter what, though, you will never want to see a credit card fee on your monthly bill.
There are different kinds of credit card fees for different reasons, but the good news is that many of them can be avoided by just following a few simple rules and staying on top of your finances and bills. The best way to keep your credit card company's fees to a minimum is to pay your bill on time and in full every month. If you do this, you won't have to pay any interest or finance charges, and you'll get all the benefits of a credit card and more than a month of free credit. You will be very lucky if you are one of the customers who can keep their account in this way.
But many people can't pay off their account in full every month, so they have to pay finance charges, which are the most common type of credit card fee. Credit card companies actually charge very high interest rates, so if you can borrow money in other ways that may be cheaper, you should do so if you need the money for more than a couple of months. Paying back a short-term loan is much cheaper than keeping a large credit card balance.
If you are late with your monthly payment, you will have to pay a late fee. Many people who have more than enough money to make their payments miss payments and have to pay big fees because they aren't organised. If you can't make your payment on time because you don't have enough money, you might need debt counselling or other advice to help you get out of this situation.
Depending on the company, your credit card company can charge you many other fees, but if you know how they are calculated and what triggers them, you probably know all you need to know to avoid them in the future.
