Beware These 35 Ridiculous Fees: Part 1

Capt. Credit — Tue, 26 Dec 2006 17:09:07 +0000

CNN Money took a look at thirty-five ridiculous fees and how to fight back and it came as no surprise that four of the thirty-five fees involved credit cards. This article takes a look at the first two of four – Credit-card late fees and Balance-transfer fees.

#26 Credit-card late fees
If your bill was due today and it doesn’t get there until tomorrow, you’ll have to pay a late fee (as expected) but the late fee has been getting higher and higher and your grace period is getting shorter and shorter. CNN Money says that in ten years the fee has increased 150% and the grace period has fallen from 31 days to a mere 20 on some cards. They advise that you mail your check seven to ten days before its due date or do what I do, schedule it automatically online. If you’ve been hit with a late fee, give them a call to see if they’ll waive it.

27. Balance-transfer fee

A lot of cards these days will give you a balance-transfer without any fees when you open up a new card. If you’re not opening up a new card though, you’ll probably see a balance transfer fee in the neighborhood of 3%. Need a fee-free balance transfer? Here’s a good list of credit cards offering 0% balance transfers and most of the Citi and Discover cards won’t charge you a fee.

Source: CNN Money

Don’t Use Credit Cards As A Loan

Capt. Credit — Wed, 22 Nov 2006 22:55:41 +0000

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Declare War On Credit Cards » 0% Balance Transfers

Beware These 35 Ridiculous Fees: Part 1

Don’t Use Credit Cards As A Loan