News
Credit card fees to watch out for —now more than
ever
Credit card companies are trying to recover the losses they’re
facing from credit card reform laws. Here are some of new and old
ways they are making their money back, and the ways they can hit
your wallet.
- New and/or higher fees for things like balance transfers
- Late payment fees
- Inactivity fees
- Low activity fees
- Statement fees
- Overseas transaction fees
- Rewards fees
- Fees for having your card declined
- Annual fees
- Higher interest rates on new purchases when a cardholder pays
more than 60 days late
Bottom line: There’s never been a better time to read the
fine print and use your credit wisely!
