Free Credit Cards:

In today’s market, many people are attracted to offers of “free” credit cards. These cards come with promises of no annual fees, high credit limits, and various benefits. But before you jump on these offers, it’s crucial to understand the hidden charges that come with them.

Free Credit Cards:
1. High-Interest Rates
Even if the card promises no annual fee, it may come with a high-interest rate. This can make your card usage more expensive if you carry a balance.

2. Foreign Transaction Fees
These cards often have foreign transaction fees ranging from 2% to 4%. If you make purchases in foreign currencies, such as US dollars or British pounds, you’ll be charged extra.

3. Over-limit Fees
If you exceed your credit limit or take cash withdrawals, the card provider may charge you an over-limit fee. This is something you need to be aware of, especially if you plan to use your credit card for large transactions.

4. Late Payment Penalties
Some “lifetime free” cards may still charge hefty penalties for late payments. These penalties can be higher than those of other credit cards, so be sure to pay your bill on time.

5. Inactivity and Processing Fees
If you don’t use your credit card regularly, some card providers may impose inactivity fees. Additionally, there could be processing or maintenance fees that are not always transparent.

Before applying for a free credit card, it’s essential to carefully examine these hidden charges. While the card might seem free at first, these extra costs can add up quickly. Always read the fine print and choose the card that best suits your spending habits.

While free credit cards can seem like a great deal, they often come with hidden costs. Always do your research to avoid unwanted fees and make sure you’re getting the best value.

ALSO READ:Vikrant Massey Transforms Into Sri Sri Ravi Shankar for Biopic ‘White’

Share

• 
• 
• 
• 
• 
•