When does interest get charged?
Interest is generally either charged from the date of purchase of items or from the interest free period stated on the Terms & Conditions of each credit card. For cash advances, interest is usually charged from the date of the withdrawal.

What fees will I be Charged?
Depending on how you use your card, fees can add a lot to the cost of your card. Commonly charged fees include:

• Annual account fees
• Fees to join rewards programs
• Fees for late payments
• Payment dishonour fees
• Overseas transaction fees
• Foreign Exchange Fees
• Fees for exceeding your credit limit.

Fees must be properly disclosed: most lenders publish their fees and charges in booklets and on internet sites. As long as the terms and conditions for the card give the lender the right to increase existing fees and impose new ones – and they almost always do – there's not much you can do, if faced with a fee increase on your card, except shop around for a different card or a new card issuer.

Should I apply for Honeymoon rates and other incentives?
If an introductory or ‘honeymoon interest rate’ is offered, typically, for six months – make sure you know what rate the card goes up to at the end of the honeymoon period. Check fees and charges. A card that imposes higher fees might wipe out your ‘honeymoon savings’ before long. The same thing can apply to offers of ‘no fees for twelve months’.

Should I take out Consumer Credit Insurance?
Card issuers may offer consumer credit insurance ["CCI"]. You do not have to take out CCI when you get a credit card, and you may cancel a policy at any time. If you become unemployed or disabled, CCI policies pay part of your monthly balance for a set period. If you die, CCI may also cover all your balance up to a set limit. The cost of your cover depends on your outstanding monthly balance. Read the policy wording carefully and make sure the risks you are insuring against are really worth the cost of the insurance.

What are the pitfalls with secondary cards?
If you allow anyone else to use your account through a secondary card, you remain liable for all amounts owing, including any losses from a secondary card-holder's negligence.