Credit Card Fees Inching In and Up
January 4, 2008
Credit card fees are nothing new, but they are changing. Many credit card companies are new levying big fees for late payments, cash advances, and just about anything else they can think of. In some cases, the fees can be incredibly high with some companies charging as much as forty dollars as a late payment fee.
Consumers should look for and understand the fees that are associated with their credit cards. To do this you will have to either go through the fine print of the terms and conditions that govern the agreement between you and your credit card company or you will have to contact the customer service department.
It should be noted that simply visiting the company’s website and reading the information there may not be suitable. The terms and conditions that you have with the company may be different than those shown on the website. This can be especially true if you have had the card for any length of time.
When you begin your research into fees, make sure you look for the most important ones. These include late fees, over the limit fees, annual fees, no activity fees, phone payment fees, fees for transferring balances, cash advance fees, and foreign transaction fees.