When you get a credit card, it can seem simple on the surface. After all you’re just getting a loan that’s easily accessible through your card. You pay back what you spend, and you’re charged an interest rate as you pay off the balance. Of course you know that credit cards are actually much more complicated than that. You have things like interest free days, balance transfers, cash advances, and rewards to think about.

That’s why reading and understanding your credit card terms is so important. If you don’t, you might be surprised by a sudden fee or charge you weren’t expecting, and that little purchase you made might end up costing you an arm and a leg.

Here are a few important things you should make sure you’re clear on when it comes to your credit card terms, no matter what credit card you apply for.

Interest Free Days

Interest free days are a great thing. They mean you have a certain amount of time to pay off your purchases when you won’t be charged interest. Taking advantage of them can lead to interest free financing, but only in the short-term. Interest free days usually last for terms like 44 or 55 days. They pretty much always share a term that you should be aware of though — if you don’t pay off your balance in full the previous month, you won’t be eligible for that interest free period. Don’t be surprised by interest charges. Check your terms and find out when your balance has to be paid off to qualify. Also note that balance transfers generally have to be paid in full as well before you’re eligible for interest free days.

Cash Advances

It’s usually a smart idea to avoid taking out a cash advance at all costs. But if you’re going to do it anyway, make sure you understand all of the terms and conditions. For example, you could be charged not only a much higher interest rate than you pay on purchases, but that interest will probably start accruing immediately (no interest free days allowed). You also might be hit with a cash advance fee when you make the transaction. So withdrawing quick cash for a dinner out might prove to be a really bad idea financially.

Balance Transfers

Balance transfer credit cards like the ANZ Balance credit card can have some of the more complicated terms you should be aware of. As already mentioned, a balance transfer might knock out your interest free days eligibility. You might also be hit with a balance transfer fee when you initiate it, much like a cash advance fee. Some cards have minimum balances you have to transfer to be eligible for their balance transfer offer. Along those same lines, you might not be able to transfer the whole balance you were hoping to. You should also note that special balance transfer introductory offers generally start the moment you’re approved for the credit card — not when you initiate the balance transfer. So if you transfer a balance after two months as a cardholder, don’t be surprised when you only get the low rate for one month if there was a three month offer advertised.

You can avoid any unpleasant surprises from your credit card company by simply reading the fine print before you even fill out an application form. And if you’re still not clear on something, don’t be afraid to call the issuing bank and ask them questions.