Know these 5 credit card details..! Prevent fines..!?

Although credit cards can be helpful to us, the pros and cons depend on how we use them. If you spend over the credit card limit or don't pay the installment on the due date, you may end up paying various additional fees and penalties. After demonetization, many people have started using credit cards to meet the needs of modern lifestyles and the number of credit card users is increasing. When you apply for a credit card you have to agree to a number of terms and conditions. If your application is accepted, an agreement will be sent by email. It is very important to be aware of the various fees that you may pay. There are a few things you should follow to avoid paying any penalties and additional charges while using credit cards.
Annual Fee:

The annual fee is assessed once a year and varies depending on the card. Banks occasionally offer free credit cards that never have an annual or joining fee. To avoid paying annual fees, opt for an annual fee card.
Interest Rate:

If you don't pay off your credit card balance in full each billing cycle, you'll be charged interest. If you have an outstanding balance, you will be charged additional charges by the bank. Consider reducing your spending or looking for a credit card with 0% APR and no interest charges for up to 21 months if you can't pay your bill in full.
High Limit Fee:

Depending on the type of credit card, you may or may not exceed the specified limit. Banks don't allow you to do this for free, instead, the card issuer charges you a hefty sum. Most banks offer a minimum of Rs. 500 is charged.

Late payment charges:

Banks give you the option of paying the minimum amount if you are unable to pay the dues. If you can't do that too, you'll be charged a late payment fee. Based on your statement balance, this will be charged.

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