The first thing to do when you are getting a credit card is to shop around and get the best deal that you can. There are going to be cards that will charge you an annual fee while others will not be doing so. If you are getting a card for the first time, you may not be able to get an annual fee free card as you will not have a credit score. Make sure that you have various options in mind and opt for the one with good value and lowest annual fee.
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Pay On Time
The biggest reason for high fees is a late payment. Most companies will hit you with a $35 fee if you do not pay your bill on time. It’s a lot easier nowadays as you can pay your bills online on the credit card company’s website. With all the e-commerce, there is no reason why you should make a delayed payment. With timely payments, you can get a lower APR as well as get the annual fee removed from your card, if you are paying such a fee.
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Don’t Take Cash Out On Our Card
It’s a big sin to take cash out of an ATM with your credit card. It’s a big no-no. Not only will you be charged a much higher APR on the amount of withdrawal, generally 10% or more higher than your rate for purchases, you will also be hit with an instant fee for taking cash out. It is generally a minimum of 10 dollars or more per transaction and can be higher depending on the amount that has been withdrawn. So if you need cash, only use your debit card.
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