Comments on: 5 Credit Card Fees You Probably Didn’t Know About

By: credit card charges

credit card charges — Sat, 15 Aug 2009 18:13:20 +0000

The APR really ought to include any annual fees, thus making it easy for the potential customer to compare different credit cards.

By: geoff

geoff — Fri, 19 Sep 2008 23:03:26 +0000

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By: perry

perry — Wed, 20 Aug 2008 03:06:11 +0000

Tip no. 3 must be very uncommon. None of my 19 credit cards ever charged me for paying the balance in full or inactivity.

By: Curt

Curt — Sat, 26 Jul 2008 17:54:41 +0000

Fees, Fees, Fees … it’s ashame that banking has come to this, but its the result of competition and the illusion of paying that customers want. Customers want to think they are getting something for nothing, so banks come up with ‘free’ checking accounts and then make money with fees. It’s not the banks fault, that’s what customers want.

By: Bill Bobaggins

Bill Bobaggins — Fri, 18 Jul 2008 21:31:59 +0000

One thing that’s not listed and that a lot of credit card companies have been doing is advertising a low APR, but “only on certain purchases”. Of course they neglect to tell you what those “certain purchases” are.

By: Craig

Craig — Fri, 18 Jul 2008 20:52:26 +0000

I would also like to know which card companies do #3 and charge a fee for inactive.

‘Credit card companies earn their money on the interest you pay them and the various miscellaneous fines that they collect, so they’re not going to let you get away lightly by cheating them out of the interest.’

They also earn money from the merchants for providing the service and clearing the transactions. They receive a % of the transaction they clear. So, if you charge $100.00 at Sears, Sears gets $97.00 and the card company gets $3.00 for clearing the activity. Why would the merchant do this? They don’t have to chase down bad checks because the credit card company owns the debt now.

This is also why bank debit cards encourage you, and in some cases provide incentives, to use your debit card as a credit card (so the bank gets the %. It is also how the card companys can give you a cut of the cash back.

By: Bill

Bill — Fri, 18 Jul 2008 20:25:38 +0000

I hate credit card fees!

Great post. Thanks for submitting it to my blog carnival.

By: Trish

Trish — Fri, 18 Jul 2008 02:59:15 +0000

Get a card from a credit union, and you’ll avoid all these traps.

By: tehnyit

tehnyit — Thu, 17 Jul 2008 11:43:47 +0000

Tip #3 is a bit strange. I would have thought that an annual fee the only other thing that would be charge if there isn’t any outstanding balance. Which cards has these type of fees?

By: oliver

oliver — Thu, 17 Jul 2008 06:19:44 +0000

whats the deal with tip number 3? i’ve never heard of that. which cards do that?

By: Choose Credit Cards

Choose Credit Cards — Tue, 15 Jul 2008 08:50:13 +0000

Was not aware of tip number 2. I kind of new the other 4. Very good tips.