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      December 15, 2017

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Credit Card Fees

The No Annual Fee Credit Card Advantage

When a No Annual Fee Credit Card Doesn't Save You Money

 

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The No Annual Fee Credit Card Advantage

If you're currently shopping around for credit cards you may be considering which one is the right one for you. With so many credit card offers to choose from it can be confusing and frustrating. Should you go with the low interest rate card, a cash reward or one that provides movie certificates and airline tickets?

The first place to start, when choosing a new credit card, is look at your spending history. If you are a conservative credit card spender and mainly use it for large purchases, occasional travel or a potential emergency you can be classified as a conservative credit card user. These are consumers that won't benefit from credit card rewards or other perks geared for those frequent credit card users if a steep annual fee goes along with the credit card. When a low interest rate and travel points don't entice you, a no annual fee credit card might be a good choice.

It's also important to factor in your finances and if you'll maintain a credit card balance should you charge that annual trip to the beach, make a large purchase or have any emergencies arise. Weighing the cost of utilizing a no annual fee card with a higher interest rate against a card with a lower interest rate but a $50 annual fee is smart financial planning. We all like to say we won't use our credit cards but if your budget is currently pretty tight you might be pulling out that Visa more often than you like to admit. If paying only the monthly minimum card each month is your short term future than honestly the interest rate should be the larger driver.

Once you identify your realistic spending trends and how much you'll be able to pay off each month you are in the right place to choose the credit card for you. But with any card you choose, look very closely at the annual fees, any application fees and late fees associated with payments that come after the due date. For interest rates look closely at the current interest rate and if that is introductory or fixed. Also read closely on what will trigger an interest rate increase. If you've decided that a reward card is a good fit, then consider how those reward points are earned and at what rate. Will that rate change in the future and do rewards expire over time.

Overall, no annual fee credit cards have an advantage over those with hefty charges but only when your spending is conservative and you are not interested in cash back or other rewards for frequent spending.

Is an Annual Credit Card Fee Worth It

And that certainly makes sense. But before you dismiss the idea of paying an annual fee, consider the benefits of doing so. For one thing, credit cards with no annual fee often come with stingier rewards programs than those that do charge fees. For example ...

Published:  Fri, 08 Dec 2017 21:42:00 GMT



Spending: Airline credit cards without the usual annual fee

By contrast, Delta's Gold Delta SkyMiles card ($95 annual fee) pays out only one mile per dollar ... Even if your preferred carrier doesn't advertise a no-fee credit card, you may be able to bypass the fee. "It never hurts to ask if there's a no-fee ...

Published:  Fri, 15 Dec 2017 02:36:00 GMT



Best Credit Cards For Everyday Use

The best credit cards for everyday use will vary from one person to the ... There is also a version of this card with lower rewards, but no annual fee. You can get details on this card here. The Discover it card is one that requires you to manage rotating ...

Published:  Fri, 15 Dec 2017 00:27:00 GMT



The Best Secured Credit Cards of 2017

... credit bureaus to help you get your credit back on track. Discover it® Secured Card - Discover makes the top of our list for a variety of reasons. First, the Discover it Secured Card charges no annual fee. Second, it offers a 2% cash back rewards ...

Published:  Thu, 14 Dec 2017 00:00:00 GMT



Why Your Awesome Rewards Credit Card Actually Kind Of Sucks

"There's no good reason to play with snakes," he told HuffPost. "They bite." Accruing miles is one of the top reasons people give for holding on to their credit card. There are a few catches, though, including the annual fees on most airline card

Published:  Thu, 14 Dec 2017 01:45:00 GMT



How to Use Overdraft Lines of Credit to Lower Fees

Additionally, while credit cards don't charge interest until after the payment ... Radius Bank's popular Hybrid Account offers this line of credit with no application fee, annual fee, or transaction fee to use the service. That makes it a great choice ...

Published:  Mon, 11 Dec 2017 00:00:00 GMT



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