Are you paying too much for the privilege of using a credit card? You might not think so initially, but then again you might be surprised by how much your credit card is really costing you when you look at all of the different types of fees and interest rates you could be charged. Below is a list of many of those money-sucking expenditures, some that you’re familiar with and some that you might not be.

Purchase Interest Rates — This is usually the interest rate featured most prevalently when you’re reviewing credit card offers. While a low interest credit card will save you the most if you tend to finance purchases over time, it might also be worth looking into credit cards with very low interest introductory periods such as the Aussie MasterCard.

Cash Advance Interest Rate — This interest rate is often not featured in credit card offers, because it can be much higher than the purchase interest rate. It will always be available in the terms and conditions though. It’s not only important to know your cash advance interest rate if you want to take out cash, but also if you plan to initiate a balance transfer. Some card issuers treat balance transfers as cash advances when charging interest (either up front or after an introductory balance transfer period).

Balance Transfer Interest Rates — A balance transfer interest rate is generally a temporary rate — a special during an introductory offer period. It might be 0% interest, or just a lower interest rate than purchases. In rare exceptions, the balance transfer rate is offered throughout the life of the balance transfer, such as with the Suncorp Platinum credit card. It’s important to remember that having an unpaid balance from a transfer will often revert to a higher interest rate later, and it might cease eligibility for interest free days on purchases until it’s paid off in full.

Cash Advance Fees — In addition to your high cash advance interest rate, you might be charged a separate fee for every cash advance. This cash advance fee could be a set dollar amount or a percentage of the cash advance, depending on the credit card company. You need to remember that cash advances aren’t only for money taken from an ATM. Your issuer might also consider things like over the counter bill payments, purchasing traveller’s cheques, or new balance transfers after an introductory period is over to also be cash advances. Review your card’s terms carefully.

Balance Transfer Fees — Similar to a cash advance fee, you might be charged a set dollar amount or a percentage of your balance transferred as a fee in addition to any interest.

Over the Limit Fees — If you don’t keep an eye on your spending, you might be hit with an over the limit fee. Your bank won’t necessarily stop payment if you exceed your credit limit. They can put the charge through anyway, and charge you a hefty fee for exceeding that limit.

Foreign Transaction Fees — Do you travel or make purchases internationally? If so, you might be charged more than you were expecting. You could find an overseas transaction fee tacked onto your statement, or a currency conversion charge. This can happen even when ordering online from an international company — it’s not just a fee for travellers.

Some credit card fees are common knowledge (such as late payment fees). Others are things most consumers probably don’t think about until they’ve already made a transaction and they see a fee thrown in for good measure. Always review your credit card terms carefully, and if you don’t understand a fee, ask your credit card company. The same goes for making purchases you don’t normally make. For example, if you’re travelling outside the country for the first time and you plan to take your credit cards, call your credit card company first so you can factor their fees into your budget. By staying on top of your credit card terms, you’ll never have to worry about being surprised by an unexpected credit card fee.