Will I get charged Late payment/Overlimit fees?

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Will I have to pay interest each month?: You can avoid paying any interest by always paying your balance in full and on time each month.
How do I use Credit card cheques?: When you receive your credit card, you will also receive some credit card cheques in the post.
How do I make Cash withdrawals?: You can withdraw cash from any cash machine, just like you can withdraw cash from your own bank account.
Why is it worth making a Balance Transfer?: If you have a large outstanding balance on one or more credit and store cards – you will undoubtedly be able to save money by transferring your balance to another credit card.
How much can I Balance Transfer and how long does it take?: Most credit card companies will only allow you to make a minimum of £100 balance transfer either from or to your credit account, because of the administration involved.

All credit cards charge you if your payment is overdue.

If your payment doesn’t reach them by the date specified on your statement, you will be charged a one-off late payment fee, and these fees are normally quite expensive, i.e. £20. The best way to avoid this is to set up a Direct Debit to ensure that you pay at least the minimum repayment on your account, on time, each month. Obviously it will take a lot longer to clear your balance and you will pay more in interest charges, but you can make extra payments during the month as and when you can afford it to ensure that your outstanding balance is going down steadily.

In the same way if you go over your credit limit you will incur a fee, again of around £20, depending on the individual credit card company.

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