What is the total credit card fees involved while using a card?

Answered on September 28, 2010
Updated on September 28, 2010
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
There are a number of different credit card fees that are applicable for the usage of credit cards today. You should ideally know about these different fees so that you can better plan your finances and have an idea of these expenses before they actually become critical issues. Remember that in most cases, these fees are mentioned to you before you apply for the card. However, it is important to be assured that you can read the fine lines and be aware of these fees before you can actually apply for the credit card. One of the first fees that are going to be a part of your credit card would probably be you application fees. This is a part of most credit cards, but not all of them. There are some credit card companies out there that will not charge you any kind of application fees for their credit cards. Hence, you might want to know more about these, in case you are looking to save your money in this regard. However, these fees are not particularly high, and in most cases, may be waived for first time customers. The next fees to look at will the annual fees that are associated with the credit card. This too is not a necessary fee that is associated with the credit cards. While some credit card providers charge their customers with these fees, the other card providers will make do for this elsewhere. Hence, this is something that you might want to look into, but do keep in mind that this is not something that you should be concerned about. There are some great cards out there that don't really have any bad feature as such, but might have an annual fee associated with them. Finally, there might be other fees that are associated with the cards as well. These are something that you might want to look at, specific to your card. There are certain credit card providers out there that will charge fees depending on the services that are provided with the credit card. Hence, you might want to consult with your credit card company about this and discuss these fees before signing on the dotted line. Consider all the different fees and if you still feel that the credit card is worth going in for, then it is definitely worth it and essentially something that you would want to pursue further.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

User Comments about This Question


Make sure you do not carry too much balance. It is recommended to use only up to 30% of your available credit. If you can pay off the card balance in full each month, do it. The less you owe, the better. If you have other credit accounts, make sure they are in good standing as well and you pay them accordingly. Keeping only one credit account in good standing won’t help your credit score. Note that there are other things that may lower your credit score: newly opened or closed credit accounts, bankruptcy, charge offs, loan default, late and missed payments, maxed out accounts, unpaid...
There are lots of transaction fees associated with credit cards such as cash advance fees, balance transfer fees, foreign transaction fees, and more. Different credit cards from different banks and credit card companies come with different transaction fees. Look through our selection of the best credit card offers and choose the card to meet your financial needs best.
When you carry a balance on a credit card, your minimum monthly payment will depend on the amount you owe, interest rate and fees. As a rule, you have to pay 1%-2% of your card balance plus new interest and late payment fees (if applicable). If you have any past due amounts, they will be added to the minimum payment as well. So, the more you owe on your credit card, the higher your minimum payment will be. However, you can avoid interest if you pay off the card balance in full each month. Also, there are credit cards with 0% intro APRs that do not charge interest during introductory period.

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