Underlying Truths About No Annual Fee Credit Card
Credit card companies are becoming more competitive
each day; this is why the number of no annual fee credit cards being
offered is rapidly growing. No annual fee credit cards are coupled
with a lower or even zero percent APRs on the introductory period
which is now the set standard in the credit card industry. It is
considered by most credit card clients as a great advantage and
benefit for them.
Recently, no annual fee credit cards became the most popular instruments
used by most credit card companies in marketing their credit cards
in the market. Before, it was not the trend because every credit
card user was charged to pay their annual fees. However, the credit
card issuers realized how their clients have resented because they
are obliged to pay the annual fees in order for them to utilize
their credit cards.
The credit card issuers slowly eliminated annual fees to advance
on their marketing incentives. But clients should never think that
there would be no payments at all. Make sure that you carefully
study all the credit card offers and features as well as understand
all the written statements in your application forms before signing
It is true that the credit card issuers might offer you a credit
card without an annual fee within a period of one year but when
it expires, it will overly charge you with a higher percentage on
interest rates. Don't be fooled by some fraudulent credit card offers.
Keep in mind that you could face your greatest challenge especially
when you are being bombarded by lots of good credit card offers.
There are always terms and conditions upon every agreement. Take
for instance, you are not able to pay your full monthly balance,
still, you are required to pay the service charge for any unpaid
balances. Likewise if you exceed the limits of your credit card,
still, additional fees as high as 35 dollars are needed to be paid.
Also avoid paying your fees late because besides the service charge
and the excess limit charge, you are also obliged to pay late fees.
So, it will turn out to be the client's loss even if they are not
charged any annual fees. It would be a great lesson for people who
want to apply for a new credit card.
Credit card holders should have a definite plan regarding proper
credit card handling, spending, and paying their bills responsibly.
Any wrong move in using your credit card will cost you a lot giving
you financial burden instead of helping you out. All the transactions
and the mistakes that you have done will be recorded in the reports
about your credit cards. Soon, these unfavorable marks will significantly
affect other aspects such as home loans, job applications, new car
purchase, insurance application, and interest charges when applying
for another credit card.
You can apply for no annual fee credit cards from a number of financial
institutions and banks. Once you have found the credit card that
will not charge you any annual fee, immediately make an assessment
regarding the other features that it offers. It can include 0 %
interest rate during the introductory period, and reward programs
such as air miles, cash back, and others.
In every financial situation and needs, you can always find no annual
fee credit card offers that will meet your needs. Just be always
cautious and keep important reminders in mind.
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