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      February 22, 2019

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Credit Card Fees

The No Annual Fee Credit Card Advantage

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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.

Best business credit cards for travel

Your miles never expire, and there's no limit to the number of miles you can earn. This card does have a $95 annual fee, but it's waived the first year. Consider this card if: You need a low-maintenan...

Published:  Wed, 20 Feb 2019 07:52:00 GMT



Is the Lowe's Credit Card Worth It

The Lowe's Advantage Card has no annual fee, so it won't cost you anything on an ongoing basis to take advantage of the card's benefits. Most store credit cards don't charge an annual fee, and the Low...

Published:  Tue, 19 Feb 2019 00:17:00 GMT



9 reasons you shouldn't automatically ignore a credit card just because it has an annual fee

Credit cards that offer huge welcome bonuses - think 50,000-100,000 points or more just for signing up and meeting a minimum spending requirement - are pretty much guaranteed to have an annual fee. Th...

Published:  Mon, 11 Feb 2019 08:54:00 GMT



Marriott is offering a 100,000-point welcome bonus for its new luxury credit card - which could help justify the $450 annual fee

Different-tiered Marriott cards offer free nights with a lower certificate value. Perks and benefits of the Bonvoy Brilliant AmEx The awards rate on this card alone may not justify a $450 annual fee. ...

Published:  Wed, 13 Feb 2019 10:06:37 GMT



Which Credit Cards Offer a Free Hotel Stay Every Year

The free night expires 12 months after issuance, and the card charges no introductory annual fee, then $95 after that. Starwood Preferred Guest Business Credit Card from American Express.

Published:  Mon, 18 Feb 2019 11:05:00 GMT



Low annual fee, dining & travel rewards plus 50,000 points on sign-up make Chase Sapphire Preferred our choice

The annual fee is only $95, and beginners will no doubt especially be pleased to know that fee ... not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, appro...

Published:  Tue, 22 Jan 2019 11:28:00 GMT



No annual fee credit cards

If you are after a new credit card or looking to switch cards you might be wondering why you'd opt for a card that charges fees over one that doesn't If only the credit card world was that simple. Lu...

Published:  Thu, 06 Sep 2018 17:31:00 GMT



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