Credit cards are one of the most common payment tools that are used by people from all over the world. If you learn to use it to your benefit, you stand to gain a lot of reasonable rewards throughout the year and have the liberty to shop for as much amount you want.

In contrast, if you miss payments and skip paying the bill completely, you might end up in a lot of debt. To lend you a helping hand, we are mentioning the best credit card secrets which your bank doesn’t want you to know.

• You Can Avail a Signup Bonus

Many of the credit card providers offer a huge signup bonus that you can avail when you sign up for a new card. There’s a catch though, the signup bonus is usually offered on cards that have a high annual fee. What you can do in such cases is to avail the sign-up bonus like 1,000 miles sign up bonus and cancel the card after a few months. It will ensure that you avail the bonus and don’t keep paying the hefty annual fee for long.

• You Can Lower Late Fee or High Interest

All the credit card owners are usually aware of the fact that if they don’t pay the bill on time, they will need to pay a higher interest rate and a late fee. This fee is usually very steep and can dent your budget. There is a solution though. You can ask the bank to lower or waive the fee or interest rate by just being polite. Yes, it happens all the time. Give it a go.

• Interchange is Highly Profitable

Another well-kept one among best credit card secrets which your bank doesn’t want you to know is that every time you make a transaction on your credit or debit card, the merchant needs to pay about 2 to 5 percent to the banks, credit card issuer, and payment processing networks. This fee helps a credit card provider to earn billions in a year. So, the next time your bank waives off the annual fee, you know that it has an ulterior motive of keeping you hooked for the long term.

• You Can Choose Not to Pay Any Annual Fee

If you are thinking of closing the credit card just because the annual fee is too high, we suggest that you don’t take this step as it may damage your credit score. What you can do instead is to call up your bank and transform your card to one with no annual fee. Yes, it’s possible and has been done by scores of people who wanted to save money. Try it today!

• Credit Card Score Can Let You Travel for Free

Believe it or not, people who have a good credit score are allowed by the bank to avail the best possible sign up miles. You can use these miles to visit the destinations you love. Some rewards also include flexible airline and hotel transfer partners. So, there’s another big reason to keep your credit score high.

It is hoped that you will make the most of the tips we shared regarding best credit card secrets which your bank doesn’t want you to know and you’ll use them to make your credit card owning experience better and profitable.