- Finance

Things You Should Know About Credit Cards

Credit cards are used to pay for shopping, tickets and other things when you don’t have cash in hand. Many people have been using these cards to even pay off their monthly bills and loans. It may sound too good to be true because you will have to pay the money later on. If you pay it before the end date, you don’t have to pay any interest rate. However, if you pay later than that, you will have to pay the amount including late fee and interest rate. It may not be possible for every cardholder to manage the credit card payments because of their casual attitude towards paying them off on time. The interest rate keeps on adding resulting in a big amount to pay off.

If you are planning to go for eastwest credit card, you should keep in mind a lot of key factors and a few of them are explained below:

Annual fees

It has been observed that every credit card company charges the annual fees on offering their services. If you are not aware of it, you may get shocked after looking at the bills. It is important to clearly discuss with your credit card provider and know about annual fees. Sometimes, the banks also offer cards with no annual charges. However, it is always a good idea to know about these charges well in advance. Besides that, if you have good credit score, you can easily get rid of this annual fee. All you have to do is to pick up phone and call up your bank. They should be able to help you for sure.

Late fees and hidden charges

One of the most worrisome factors in getting the credit cards is the late fees and hidden charges. They are revealed when you get your monthly statements. On paying the bill after the payment date, you will have to pay late fees including the higher interest rate. In order to prevent it, you should always pay on time. It is a good idea to set a reminder to pay the bill. Hidden charges may vary from company to company. Whenever you receive the bill, you must study it properly to avoid any issue later on. Paying on time will also improve your credit score to a great extent.

Look for credit card promos

If you want to get a credit card, you must keep searching the bpi credit card promo. This way, you will be able to get some lucrative discounts, which may not be available if you apply for the card yourself. This is one of the best ways to save money because the annual fees are waived off at times as a part of promotions.

It is the right time to get online and search the credit cards, which meet your requirements. It may be easy to acquire them but difficult to manage. Don’t delay your payments and always use the credit card if you are really in need. It is not a good idea to use it lavishly.

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