Credit card companies are in the business of making money. It really is that simple. They earn their money through two principle methods. One is through the finance charges that they levy when you make purchases on the card, and the other method is through the use of credit card fees. It should be understood that these are not one in the same. They are different, and knowing more about the fees that a company charges (or does not charge) its customers can help you save money.
Credit card fees can (and do) vary from one company to the next. There is no set schedule for credit card fees. This makes it very important for consumers to read carefully the literature that is supplied by the company in order to know exactly what you will be billed for during the course of your association with the company.
Some of the more common types of fees include:
Annual Fees: Many credit card companies are moving away from this particular fee, but there are still some that use it. The annual fee is generally just a yearly fee, billed monthly, for having the card. Whenever possible, you should avoid credit card companies that charge an annual fee. You get nothing but the card...
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