Five smart things to know about charges on your credit cards

1. When your bank offers a ‘free’ credit card, with a fine print about terms and conditions, do take the time to ask what the costs would be.

2. Most banks waive initial costs and annual fees, but charge customers an annual maintenance fee.

3. Credit cards may come with costs for duplicate statements, cash withdrawals and such special services.

4. Certain transactions such as international purchases might be subject to additional transaction charges.

5. These costs may be in addition to the routine interest charges and penalties that will be levied on the unpaid dues on a credit card.

(Content is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)