Most people think that Credit cards are expensive and you should pay your bank fees starting day one just for the fact of owning a piece of plastic with the Bank`s name on it. And if you are one of such users – this information is for you. In this article, I will tell you how not to pay any fees to the Bank and even how to make it work for you! Ready? 

The first rule – define the reason why you would like to open a credit card. Are that daily needs that will be covered by your salary at the end of the month, or this is for the trip you are planning for Christmas do you need it to upgrade your laptop or camera and need some mid-term cash? Your goal will define the card functionality you must go for. Put key features that are important for you and this will help to compare different offers. Like – as available credit limit, how many interest-free days, their fee for FX transactions, repayment requirements, fees for cash withdrawal, etc. 

The second rule – check the market. Usually, customers take what they have been given rather than picking what they need. This means that if you are banking with bank A, in 90% of cases you will open a credit card with them as well (because of convenience, your credit history, etc.), but does that mean that you will get the best from it? Not always. So don’t be lazy to check what other Banks are offering. Usually, banks are ready to spend more marketing dollars for the acquisition of new clients (new to the bank), which could result in special conditions such as a welcome cashback after minimum spending in the first 90 days, or an activations bonus like a voucher or sweet discount for retail partner/food delivery/tickets discount, etc. When check is done – last but not least thing is don’t forget about member get-member programs, maybe you can mention some of your friends who already using a such card (like in example here)

The third rule – take it seriously means – calculate. Calculate the number of interest-free days, set the reminder by when you have to repay your balance (some smart banks like to change the dates), and think about which card to use for what – for example here: do not use a credit card for cash withdrawal if you can pay by card; ok-ok if there is a need in cash – use you Bank ATM rather than random one – usually fees are lower for an in-house transaction. Calculate also the number of benefits you can get from your bank with your Card, I`ll give you an example – some banks are offering free airport lounge access (the regular price for this service is around $30), or free transfer/discounts for taxi services – so don’t pay in full, use this offer and save. Because in many cases savings are equal to earnings, right?

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