Credit Card Fees
All credit cards have fees. But not all cards
have the same fees or the same rates for determining
fees. What are those fees?
Annual fee a simple charge
for letting you have a card
Cash advance fee. This is charged
when you take a cash advance from your credit
card. It can be a flat fee or a percentage of
the amount advanced. There may also be an increased
finance rate on the cash.
Balance-transfer fee. When
you transfer an amount from one card to another
the new company may charge you a balance transfer
fee. Again it might be a flat rate or a percentage
of the amount transferred.
Late-payment fee. Charged if
your payment does not arrive prior to the due
date on your statement.
Charged if you go over your credit limit
Credit-limit-increase fee. Charged
if you ask for an increase in your credit limit
Set-up fee. Charged when a new
credit card account is opened
Return-item fee. If you pay
your bill by check and the check is returned for
non-sufficient funds or bounced, they will charge
you this fee
Other Miscellaneous fees. Some
credit card companies charge a fee if; you pay
by phone, request special services, review your
account, or reporting to credit bureaus.
Make sure you read the information in your credit
card agreement to see if there are other fees
and charges. When card shopping choose the cards
with the lowest and fewest possible fees to help
save yourself money.