Best Credit Card Rates And (cont.)
Contributed by Shanika p Carter
Also, it would be wise to learn when these annual fees are deducted from your credit card. I have lost track of the number of times I have attempted to use my credit card to find that the funds are unavailable due to the annual fee being deducted without any notice. In addition, there were the times I was at my limit and the deduction of the annual fee brought me past my credit limit. Of course you know what that meant - being charged between $25-29 for being above your limit!
In another situation, I knew someone who had accepted a credit card just to have for emergency purposes. When she received her first bill she was surprised to see the annual fee deduction listed, in addition to a request for her to make a monthly payment to take care of that deduction. Keep in mind, if she let this go into the next billing cycle, interest may have been added. So annual fees can end up being more than you bargained for.
Best Credit Card Rates and More Fees
Beside annual fees, you should also learn about the other various fees associated with credit cards. These could include late fees and over-limit fees which range between $25-29. Credit card rates are definitely important when seeking the best credit card for you, but keep in mind there are other things to consider as well.
