October 19, 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


Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

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.

You're Still Paying Credit Card Fees Even If You Use Cash

There are no annual fees, no finance charges, no potential for missing a payment, and no chance of paying interest -- all common fees associated with credit cards. But paying in cash doesn't let you escape from the impact that card fees have on the prices ...

Published:  Sun, 15 Oct 2017 19:22:00 GMT

Credit stress: 5 ways to negotiate with your credit card company

Are your cash back rewards and other benefits outweighing the annual fee If your answer is no, then it's possible you are holding a card that isn't the right fit for you anymore. While it's not recommended that you close your credit card account ...

Published:  Tue, 17 Oct 2017 10:00:00 GMT

Best Airline Miles Credit Cards

The United TravelBank Card is a no-fee airline rewards card that earns cash back ... the amount of bonus points you receive each card anniversary and the annual fee. With the Plus credit card ($69 annual fee), you will receive 3,000 annual bonus points ...

Published:  Mon, 16 Oct 2017 19:31:00 GMT

New Card Alert! Earn 3% Back on Dining, 2% on Groceries With No Annual Fee!

because these issuers only pull from one credit bureau. Plus, you'll earn unlimited 3% cash back on dining, 2% back on groceries, and 1% back on everything else. So if you spend a lot on food and are looking for a card with no annual fee and a simple ...

Published:  Tue, 17 Oct 2017 01:00:00 GMT

Shop for Credit Cards: The Best Online Deals in 2017

The BankAmericard® Credit Card is one of our favorites in the 0% intro APR category, offering a lengthy 0% intro APR on purchases and balance transfers for 15 billing cycles with no annual fee. Importantly, the card also waives balance transfer fees when ...

Published:  Fri, 13 Oct 2017 03:00:00 GMT

Blue from American Express Credit Card

Another advantage of this card is that there are no annual fees. So you can park this card in your wallet to establish credit without paying for it. Additionally, you don't have to have a great credit score to qualify for this card. So for people who are ...

Published:  Mon, 16 Oct 2017 01:00:00 GMT

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