March 19, 2018

Home  >  No Annual Fee Credit Cards  >  Articles

Your Information Is Secure
Credit Cards: The Lowdown Newsletter

Latest Reviews

Air Purifiers

Baby Cribs

BBQ Sauce Clubs

Candy Clubs

Dog Beds

Graduation Invitations

Hair Care Products


Mystery Shopping

Web Hosting


Related Articles

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.

Credit Card Fees

Being financially savvy with your credit card takes organization and knowledge. However, the benefit is that you will rarely be shocked or surprised by an unexpected credit card fee on your next billing statement. New laws put in place under the Credit Card Act of 2009 have completely changed the credit card fee game and have done so to the consumers benefit. However, it's still money smart to understand these rules and have a clear understanding of how your card will work.

  • No need to search through the microscopic credit card agreement for inactivity fees as they are now a thing of the past. The Credit Card Act of 2009 eliminated credit card companies from charging fees for non-use of a credit card.
  • Despite much confusion, overdraft fees may still be applied to customers account but only in certain situations. The consumer must tell their credit card company they can allow transactions over the credit limit. If those occur, a credit card company can access a fee. However, if you don't accept the option to opt-in to overdrafts, a transaction that would take you over the account limit will be denied. However, if the company chooses to allow a transaction that will take your card of the limit they cannot access an overdraft fee.
  • Annual fees may not be greater than 25% of the initial credit limit. Many companies charge anywhere from $50 to several hundred in annual fees. Being aware of what your credit card fees are is important to managing your finances.
  • Application fees may also not be greater than 25% of the initial credit limit.
  • Very importantly, late payment fees (also called penalty fees) cannot be greater than $25. However, if this is your second late payment in six months the company can charge more. Also, if the credit card company can show it cost them more than the $25, as a result of your late payment, they can charge more to the customer.
  • Credit card companies can no longer charge you new fees or change the amount of fees without first notifying you 45 days in advance. If the credit card company is going to change the fee terms to your account they must give you the option to cancel your card before those fees are accessed. Cancelling your account will mean you are not charged the new fees but you may no longer use the card and may be required to pay off the balance in a much shorter period.

Looking for a low fee credit card is the best policy to limiting unnecessary charges throughout the life of your credit card. Also, making sure payments are made on time and spending is within your credit limit will decrease unnecessary fees.

These Are the Best Credit Cards Now for Every Type of Traveler

... best travel credit cards expect you to pay an annual fee-sometimes a steep one-to get their perks. But if you're an infrequent traveler, you're better off getting a travel credit card with no annual fee, because the travel benefits of the more ...

Published:  Thu, 15 Mar 2018 12:00:00 GMT

Tap your credit cards for spring break savings

After seeing foreign transaction fees add up, Tate no longer uses credit cards that charge them. 2. CHECKED BAGS OR TRAVEL CREDITS Airline credit cards and premium travel credit cards typically charge annual fees, but you can offset that cost if the card ...

Published:  Thu, 15 Mar 2018 07:05:00 GMT

10 Best NO ANNUAL FEE Rewards Credit Cards of March 2018

There are an abundance of no fee rewards credit cards available, so how do you best determine which one to keep in your wallet Most earn a measly 1% on your spending, while others have no rewards at all. To help, we've dug deep into our database of ...

Published:  Tue, 27 Feb 2018 16:00:00 GMT

Best Credit Cards for Free Airport Lounge Access

Lounge access usually comes with a fee, unless it's included in your travel rewards credit card. Some of the most popular travel ... $30 for departures and $35 for arrivals No annual fee - only one time pass fee Virgin America Clubhouse $40 (for San ...

Published:  Fri, 02 Mar 2018 13:23:00 GMT

Taking the bus or train Credit cards rewards still help.

Some cash-back credit cards - like the Wells Fargo Cash Wise Visa® Card ... The second card, the Amtrak Guest Rewards Platinum Mastercard, has no annual fee, but the bonus is smaller: 12,000 points after spending $1,000 in the first 90 days of account ...

Published:  Thu, 15 Feb 2018 08:56:00 GMT

Credit card costs increase for customers paying with plastic

And for Coles credit card customers with a low rate Mastercard, low rate platinum Mastercard or no annual fee Mastercard their interest-free periods will be wound back from 62 to 55 days from March 5. This means customers have one week less to pay back ...

Published:  Mon, 05 Feb 2018 14:41:46 GMT

UK banning stores from charging debit/credit card & Apple Pay fees starting this month

The new law is applicable both in-store and online and extends to debit cards, credit cards, American Express ... businesses and force them to increase their prices. Reducing the fees associated with Apple Pay should further help its adoption in the ...

Published:  Mon, 01 Jan 2018 16:00:00 GMT

What to Know About Applying for a No-Annual-Fee Credit Card

Fees play a key role in meeting or beating long-term personal financial goals. It's so significant in investing, because high fees can mean several hundred thousand dollars less money over multi-decade periods as charges eat away at returns. No less ...

Published:  Mon, 03 Jul 2017 08:06:00 GMT

Fee Credit Cards Better Than No-Annual Fee Cards For Most Singaporeans: ValuePenguin Analysis

Singaporeans are a financially savvy people. They are always looking for deals and opportunities to save more money. In terms of credit cards, however, "saving" on annual fees may not translate into more economic value. While many consumers are interested ...

Published:  Tue, 30 May 2017 17:10:33 GMT

Share Us!    Share on Twitter Share on LinkedIn Share on Google+ Share on Pinterest

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure