What are the chances something on your credit card statement this month could surprise you? If you haven’t carefully read your terms and conditions, you might be very surprised indeed. There are all kinds of fees, rules, exceptions, limitations, and restrictions tucked away in the fine print of your credit card terms. And if you don’t educate yourself about them you might end up with the wrong credit card, or worse; you might end up with a much higher bill than expected someday.

Let’s look at why it’s so important to fully review a credit card’s terms and some specific information you might want to look for before applying for a new credit card or using an existing card in a new way.

Why It’s Important to Carefully Read Your Credit Card Terms

That long document with all the fine print may seem daunting to read. But you should still read it — even before applying for a credit card. While you’ll see limited terms mentioned in advertisements for credit card offers, an ad can’t realistically give you the full picture. You don’t see every credit card fee detailed for example. And you probably won’t find information there about terms that affect you in less-than-ordinary circumstances — such as using your credit card on a trip overseas.

The last thing you need as a consumer is to receive a credit card statement with fees and interest charged when you don’t expect it. Your budget might take a hit. Or you might just learn the hard way that the credit card offer you thought was perfect for you isn’t quite the deal it was cracked up to be when you only read the marketing materials.

Examples of Credit Card Terms to Pay Extra Attention To

Here are some credit card terms you might want to look into — things sometimes not covered in the advertised offers themselves:

• Balance transfer fees (in addition to balance transfer interest rates)
• Cash advance fees (in addition to cash advance interest rates)
• What interest rate balance transfer rates revert to after an introductory offer ends
• Full terms regarding interest free days, including what is and isn’t eligible for them
• Reward point caps or expiration periods
• International currency conversion rates and fees
• Late fees, over the limit fees, and other fees you’re subject to if something goes wrong
• Rewards programme annual fees (not always included in the card annual fee)

As you can see, there’s a lot to consider when you apply for a new credit card. Not all terms will necessarily apply to you. But you also don’t know how you may choose to change your credit card usage in the future, so educating yourself early is always smart. Don’t be a victim of simple ignorance. Take the time to find and review your full credit card terms today, especially if you already have a card. If you’re planning to apply for a new one, a link to the terms can often be found on a credit card’s application page online.