Credit Card Fees

Credit card companies charge their customers a variety of fees for the privilege of using their cards. Two of the most common types of fees are annual fees and cash advance fees.

An annual fee is an amount that the user is charged to use the card. The fee is billed directly to your credit card. When you first sign up for a card you will be told how much the fee is and in what month it will be withdrawn from your available balance. If you request an additional card then there will be a fee for that. In some instances credit cards that have an annual fee are likely to offer a lower interest rate or more benefits and rewards.

If you need to get cash from your credit card because you are in a financial bind then the credit card fee you will be charged for this is known as a cash advance fee. You will be charged this fee if you withdraw money from a bank machine with your credit card or if you go to the teller at the bank to withdraw the money directly.

A cash advance fee is either a fixed amount per transaction, a percentage of the transaction or a fixed amount plus a percentage. Some credit card companies set minimum and maximum amounts for cash advance fees. Be aware that you are charged interest on a cash advance from the moment the money is withdrawn.

This is different from when you make purchases on your card and are granted a grace period. The sooner you are able to pay back the money that you have been advanced on your credit card the better it is for your credit rating.

Below we have listed some resources to help you find more of the credit card information you are looking for regarding fees attached to credit cards.

7 Ways to Lower Your Credit Card Fees

credit card payments

Everyone is looking for ways to pay less money on their credit cards. Making mistakes with credit cards is all too easy and it is all too common. Perhaps you chose a credit card because of an attractive offer that came along with opening a new account and then paid for it later. Or perhaps [...]

Why Pay Your Credit Card Payment Online

credit card payments

Have you ever been asked the question- why pay your credit card payment online? The answer is because it is fast, convenient, and better for the environment. More and more companies are turning to paperless billing to save trees and they are hoping that their customers will appreciate their efforts and will follow suit in [...]

Online Credit Card Payments: The Options

credit card payments

Do you know all there is to know about online credit card payments: the options?  As an online entrepreneur the more options you can offer your customers the more sales you are likely to receive. People appreciate options. If you limit yourself to only one option, such as just taking the Visa credit card then [...]

Online Credit Card Payment Processing

credit card payments

When it comes to online credit card payment processing there are many things that you can do for your business to make it thrive. On the other hand, there are also several pitfalls that come with setting up an online merchant account for the first time. Let us take a look at those now. Many [...]

Credit Card Bill Payment: Pay in Full and Save

Most people who have credit cards want to pay their balances off in full each and every month. They then can begin a new month fresh and with a clean credit card slate. Do you realize that when it comes to your credit card bill payment that if you pay in full and save that [...]

The Credit Card Interest Rate Information You Need

credit card payments

If you have spent any time at all researching credit card data and interest rate calculations, you probably found yourself feeling a bit dazed and confused.  Certainly, now more than ever, consumers find themselves researching and having to develop and digest technically complex information and data not often presented in the easy to understand, laymen, [...]