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For those of you who owned several credit cards, there’s something called annual fee, where you get the banks to waive your your credit card charges. To waive, you have to call in to the Credit card department, and have a customer service officer to attend to you, and help you to waive it off.

This is a procedure which I (a poor fellow like me) will have to do a few times each year, because I owned a few of them. Imagine the fee for 1 card is $150, that will amount to almost $1000++ because for each and every card, regardless of whether its same type of cards but on Visa/Mastercard, or if its from the same bank, it is still treated as single one. Furthermore if you have a supplementary card, that comes into account too.

My tip here is for you to write down the number of cards you have, and the due date for the fee. Keep track of it so that you know how many cards you owned, and roughly when to call in and waive the fees.

One of the ways credit card companies earn $ from you, is when you forget about this fees, and you simply pay it by auto deducting from a bank account. I know a few rich guys who simply have no time to be bothered with a few thousands dollars (heck, that’s like 1 % of their monthly income!)

So keep track your ins and outs !