Common Credit Card Fees to Avoid

When searching for a credit card, you are likely to get so caught up in the interest rate and reward program that you overlook other details that are every bit as important.

As you compare credit card offers, pay close attention to the fees. If you overlook this important detail, you may find yourself paying more in fees than you ever imagined possible.

Here are two common credit card fees that are best left to the next person:

• Application fee. Do you really want to pay a fee just to submit an application? This is most common for secured credit cards, but you need to be aware of the possibility on all offers.
• Annual fee. This fee is extremely common, but that doesn’t mean you have to give in. There are credit cards that don’t charge an annual fee, allowing you to use your plastic without having to pay the credit card company for the right to do so.

In addition to those above, there are other credit card fees that are difficult to avoid. These include:

• Balance transfer fee. If you transfer a balance from one card to the next, you should expect to pay a fee. You may be able to find an offer that allows you to do so for free, but there is no guarantee.
• Late fee. No matter what type of credit card you carry, if you make a late payment you are going to be charged. The best way to avoid this is to pay the minimum (or more) by the due date. Doing so will allow you to avoid a late fee.

Any credit card fee you can avoid is money in your pocket. Learn more about each and every fee before applying for a card. This way you know exactly what you are getting if you move forward.