What types of fees can I expect with a credit card?
About additional credit card fees
The cost of a credit card often goes beyond the interest that you pay on any balances you carry. Credit cards can come with unexpected, extra fees and costs. Unless you take the time to thoroughly read the credit card disclosures, you may not be fully aware of what types of fees are associated with the credit card.
You may already know you’ll be charged a late fee if you don’t submit your monthly payment on time. Another credit card fee that most consumers are familiar with is an over-the-limit fee, which occurs when the credit limit is exceeded.
Some other fees attached to credit cards include annual fees, balance transfer fees, cash advance fees, maintenance fees, monthly fees and even application fees (when you initially apply for the card).
If you have good credit, there is no reason why you should have a card with a ton of fees attached. If you have less-than-perfect credit, you should expect extra fees to be associated with the credit card.
Compare credit cards with an eye on the fine print. Be certain to look over the terms and conditions of any offer before applying to avoid any surprise fees.
 |
|
3 Responses to “What types of fees can I expect with a credit card?”
-
Jody Barringer Says:
If you close a credit card account with an existing balance, can the card company still raise your interest rates or charge you a late fee?
July 30th, 2009 at 7:29 am -
Matt Says:
When you’re talking about a credit card that has an existing balance, you can close that credit card for new purchases, but you can’t completely close the card until the balance is paid in full. You can still be charged late fees, etc. if you fail to make payments on this balance, even is the card is closed to new purchases.
July 30th, 2009 at 8:59 am -
Lynette Fagain Says:
I don’t have any credit at all. How do I apply for a credit card? I have a job, but only been there 1 month. I am noy in debt nor do I owe money. Am I eilgiable for a Credit Card if so which one?
October 29th, 2009 at 12:03 pm
Comment on this FAQ
|
More Credit Cards FAQs |
