1. How to waive the annual fee. Credit cards all have annual fees. The specific fees range from 10 yuan to several thousand yuan. The more Premium credit cards have higher annual fees. However, many credit cards generally only waive the annual fee for the first year. If you make a few transactions, you will be exempted from the annual fee for the second year. If you do not make enough transactions, how much annual fee will be charged? Each bank is different. It is recommended that you know how many times you will be exempted before applying. Annual fee.
2. Interest and late payment fees Credit cards will have an interest-free period, which varies with different credit cards. The longest is 56 days. The minimum repayment amount is generally 10% of the repayment amount. If we only repay this 10% on the repayment date, although it will not affect our personal credit record, we will not be able to enjoy the interest-free period, and the interest will still be calculated. Most banks implement the full interest calculation principle in charging interest, and the expected annualized interest rate per day is 0.05%. If the consumer's actual repayment amount on the repayment date is lower than the minimum repayment amount, the bank will also charge a 5% late payment fee for the portion lower than the minimum repayment amount.
3. The cash withdrawal fee is not cost-effective. Credit cards are different from ordinary debit cards in that they mainly encourage consumers to use the card to spend money instead of holding cash. Therefore, if you use a credit card to withdraw cash, the bank will charge a cash withdrawal fee, and the transfer is also regarded as a cash withdrawal. The cash withdrawal limit is set based on the credit card limit, and generally does not exceed 50% of the credit limit. The handling fees for cash withdrawals in various banks are not cheap, ranging from as low as 2 yuan to as high as 100 yuan. Therefore, it is recommended that you do not withdraw cash unless absolutely necessary.
4. Installment fee: Most banks provide installment payment services for repayments with a consumption amount of more than 600 yuan. Some banks will implement different expected annualized interest rates for different periods, and some banks will offer interest-free policies to attract consumers to repay in installments. Although it is interest-free, there are actually handling fees charged. The more common installment payment terms include 3 installments, 6 installments, 12 installments, etc.
5. Credit card swiping and card maintenance Regarding the question of how to increase the credit card limit, bankers said that in the first three months after opening a card, you must accumulate credit and repay the credit card in full and on time. Then take advantage of every opportunity to swipe your card, no matter how big or small, such as paying electricity bills, water bills, and phone bills. Don’t underestimate these small card swipe records, which are very helpful for your card usage activity. The amount of card swiping, the frequency of swiping the card, the type of consumption, the repayment record, and the contribution value of the card are all categories examined in the bank's computer system.
6. Exceeding the maximum consumption limit. Generally, banks allow consumers to exceed the actual consumption amount of the month by 10% of the credit limit. However, the bank will charge an over-limit fee for the amount that exceeds the credit limit. The specific amount charged is generally 5% of the amount that exceeds the credit limit, and is charged once a month based on the account.
7. Credit card promotions: Banks will offer different consumption promotions for credit cards. For example, when you sign up for a card, you will receive card bonuses, shopping discounts, free points, and cash back when you use your card. Individuals can hold 2-3 credit cards according to their actual situation, and try to stagger the billing dates and repayment dates between each other to improve the liquidity of funds. Warm reminder: No matter you are a new customer or an old customer, credit card security is actually the most important, otherwise everything will be in vain. You must pay more attention to it and don’t use your credit card casually to do things you don’t understand~