Credit Card Tips: Know when the bill comes even without shopping..

You may often get calls that you are getting a credit card with a credit limit of lakhs for free. Some people are really telling the truth, but some agents and banks give incomplete information and try to sell their credit cards. In such a situation, many times people take credit cards with huge annual charges, which causes them a huge loss.

The biggest disadvantage of a credit card with a huge annual charge is that whether you use that credit card or not, you have to pay the annual charge. That is, even if you keep such a credit card safely in your purse, you will get a bill from the bank once a year to pay the annual charge.

Confusion arises due to the annual charge
There are many such credit cards on which there is no annual charge, but this charge is levied on most cards. Even if you get this card for free for the first time, then many times this charge starts being levied from the next year. So, take special care of the annual charge while taking the card.

Also, know the rules for an annual charge waiver.
Most banks waive the charges levied on the card after shopping beyond a regular limit. In such a situation, while taking a credit card, understand well whether the annual charge is waived on the card or not. Also understand that if the annual charge is waived, then what is its minimum limit?

Keep the terms and conditions in mind.
Many changes are made in the rules of credit cards from time to time. Sometimes some transactions are not counted while waiving the annual charge. For example, some banks do not include the money used for things like paying rent, school fees, etc. from the credit card in the calculation of annual charge waiver. In such a situation, make it clear from the bank in advance which charges will be counted and which will not.