Read both fee amounts
A card advertised as free may have different joining and renewal conditions. Check both amounts, the tax treatment and whether a promotional waiver expires after the first year.
Understand waiver conditions
If an annual-fee waiver depends on spending, read which transactions count and the exact review period. A welcome voucher is a benefit, not a reduction in the fee you owe.
Check borrowing charges
The issuer's Most Important Terms and Conditions (MITC) should also explain finance charges, the annual percentage rate, late-payment charges and cash-advance costs. Paying only the minimum amount due does not mean the rest of the balance is interest-free.
Save the exact terms
Before applying, save the current fee schedule and MITC for the exact card variant. Recheck them again when the card is approved.
