Fees | Credit Card Topics

17 Credit Card Fees & How to Avoid Them

By: Erica Sandberg, 4/1/2021

Like it or not, credit cards come with a variety of fees. As an account owner, you will be directly responsible for some, but others are embedded into the product, so you’ll never even notice them. Here are 17 common credit card fees. As you’ll soon find out, a few are simply a part of doing business with a credit card issuer, but many are totally avoidable. 1. Interest When you use your credit card to make purchases, you’re borrowing money from the issuing bank. You have the... read more »

What is a Regular Purchase APR?

By: Erica Sandberg, 4/20/2020

Every credit card comes with terms, including the annual percentage rate, otherwise known as the APR. Several APRs may be attached to the card, and among them is the regular purchase APR. This rate is important because it represents how much the finance fees will be on items and services you charge to the card if not paid off each month. Here's everything you need to know about regular purchase APRs. Regular Purchase APR Versus Other APRs Credit card issuers can charge several... read more »

How Credit Card Companies Make Money

By: Andrea Woroch, 3/9/2020

Americans love credit cards — why pay now if you can pay later and earn rewards for doing so? Unfortunately, poorly managed accounts can quickly deflate your bank account and end up costing you more than you charged to the card in the first place. That’s because credit card companies charge interest on the balance you carry every month. But this isn’t the only way card companies make money. In addition to the fee you pay for borrowing their digital dollars, you may be on the... read more »

12 Credit Cards that Offer Free Checked Bags

By: Eric Bank, 2/10/2020

The indignities of airline flight know no end. Shrinking seats, long lines, nose-bleed fares, and fees galore. One fee that really chafes is the one for checking bags, which, until recent years, had always been free. I recently flew one airline on a deeply discounted fare that charged $50 per checked bag. Overstuffed luggage that exceeds the weight limit will cost you considerably more. But, thanks to the dozen credit cards that offer free checked bags reviewed here, we can stop... read more »

11 Best No-Annual-Fee Credit Cards with Rewards

By: Adam West, 12/27/2019

Today’s credit card marketplace is brimming with options for rewards. And consumers will have no difficulty finding a credit card that doesn’t charge an annual fee. But finding a no-annual-fee credit card with rewards is an extra special treat. Many credit card issuers tack on fees or higher interest rates to offset the cost of the rewards they pay to cardholders. By leveraging a card with no fee that still pays rewards, you can earn money for spending money. Who doesn’t want... read more »

3 Ways to Avoid Purchase Interest Charges on Credit Cards

By: Adam West, 11/18/2019

There’s an old saying, “If you dance to the music, you have to pay the piper.” Many people follow the same mindset with credit cards, thinking that interest charges are simply the fee you pay for the convenience of using plastic. But, believe it or not, there are multiple ways to avoid purchase interest charges on credit cards. Below we'll look at three ways to avoid these pesky fees so you no longer have to pay the piper, er, bank. 1. Open a Card with a 0% Promotional APR ... read more »

13 Best No Foreign Transaction Fee Credit Cards

By: Adam West, 3/26/2019

Each year, millions of Americans travel to exotic locations abroad, whether for business or an exciting vacation. But even if it’s thoroughly planned and researched, international travel can be expensive. That’s why savvy travelers do everything they can to cut costs and lower fees when venturing to foreign destinations. Among the ways to lower your travel expenses is to use a credit card that charges no foreign transaction fees when making purchases or converting to the local... read more »

15 Best No Annual Fee Credit Cards of 2022

By: Eric Bank, 3/18/2019

If you’re looking for the most credit card value for your dollar, then credit cards with no annual fees are just what the doctor ordered. These cards offer plenty of the perks you get from credit cards that charge annual fees but without that yearly hit to your bank account. These perks include airline miles, cash back, and introductory 0% APRs, even if your credit score is less than perfect. Another benefit of no-annual-fee credit cards is that it’s easy to keep using them over... read more »

7 Options for When Your Credit Card Interest Rate Rises

By: Marcie Geffner, 11/16/2018

There's no doubt about it: Credit card interest rates are going up, and these rate hikes can hurt consumers who don't pay off their card balances every month. Rates are rising because the Federal Reserve hiked its benchmark federal funds rate earlier this year. Consumers don't pay this rate directly, but when it goes up, market rates — the rates consumers do pay — also tend to move higher. In the article below, we'll dive into important things to know -- and actions to take --... read more »

Banks and Credit Unions Turn to Allpoint to Provide Customers with Access to 55,000 Surcharge-Free ATMs Worldwide

By: Ray FitzGerald, 3/16/2018

In a Nutshell: Consumers who are searching for a new financial services provider no longer use name recognition as their deciding factor. With more options than ever, the institution with the lowest fees and convenient accessibility often attracts the most new customers. More than 1,000 card providers, including banks and credit unions, partner with Allpoint to eliminate ATM surcharges, one of the most common fees incurred by customers. The Allpoint surcharge-free ARM network features... read more »

17 Cheap Credit Cards with Low Interest and $0 Fees

By: Brittney Mayer, 12/26/2017

Let's talk about cheap credit cards — that is — cards with low interest rates and no fees. When you think about it, fees are a lot like the ninjas of the credit card world. They're excellent at hiding, they can sneak up on you when you least expect it — and they can cost you a limb if you're not careful. But while ninjas are notoriously difficult to best, most credit card fees can be defeated simply by choosing the right card (and using it wisely). The key to minimizing the... read more »

18 Best No Annual Fee Credit Cards (2022)

By: Brittney Mayer, 6/2/2017

No annual fee credit cards are among the most appealing to many consumers these days. Having to pay an annual fee can be a disincentive for applying for an otherwise appealing card. Below, we've compiled a list containing our picks for some of the best no annual fee credit cards out there today. Looking at the cardholder agreements that come with new credit cards can be a bit intimidating, full as they are with descriptions of the copious fees for using the cards' features. On the... read more »

12 Best Chip-and-PIN Credit Cards in the U.S.A. (No Foreign Transaction Fees)

By: Linsey Knerl, 3/15/2017

Credit cards haven’t had a makeover in years, but all that changed with the introduction of EMV (Europay, MasterCard, and Visa) technology. EMV offers a much more secure shopping experience in that every time the card is inserted into a chip-enabled checkout device, the purchase generates a unique transaction code that cannot be used again. There is an important difference between chip-and-PIN and chip-and-signature transactions, both of which are offered with EMV. Most of us will... read more »

14 Best “No Fee” Credit Cards (Balance Transfer, Prepaid, Annual & More)

By: Amber Brooks, 9/9/2016

No-fee credit cards offer a small reprieve from the fees we are hit with on a near-daily basis. In the article below, we'll take a look at some of the best no-fee cards available today, including options for a range of credit scores. For me, one of the most frustrating things about moving to a new apartment (besides hauling my couches around while my brothers complain) is all the fees that get tacked on. "There's a cleaning fee," my old apartment complex tells me, so I pay that.... read more »

How Credit Card Companies Calculate Your Minimum Payments

By: Eric Bank, 5/4/2015

One of the first things you should consider when exploring new credit cards are their methods for calculating minimum payments because there are multiple techniques the credit card companies use. The minimum payment is the amount you must fork over each month based upon your unpaid balance, interest and fees. The Credit CARD Act of 2009 created new rules regarding how issuers must report information about minimum payments. Percentage Methods Typically, credit card companies... read more »

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