Apply for Credit Cards with Zero Fees
You get hit with fees from countless sources in your life, especially in the financial world, which has transaction fees, overdraft fees and even fees for simply holding an account. When you get into the credit card world, you are looking at balance transfer fees, late-payment fees, over the limit fees and annual fees. Instead of drowning in fees, credit cards with zero fees give you a stress-free way of spending.
Cutting Down on the Fine Print
Credit cards come with a monstrous amount of terms and conditions. When you’re reading through the fine print to figure out whether you’re signing away your first born, additional fees add on more complexity. This is especially true with credit cards that have different rates if you miss a payment or have a financial situation negatively impact your creditworthiness. A zero fee credit card is easier to understand. You don’t have to worry about whether your balance transfer is going to cost an arm and a leg or if and when the annual fee is poised to hit your account. When there’s less complexity surrounding the standard usage of the card, it’s easier to figure out the important parts you do need to pay attention to in the fine print.
Making Your Money Work for You
Intelligent use of credit cards helps you make your money work for you when you’re spending it. Instead of spending it out of your bank account and getting nothing but a small amount of interest — if that, you get points, rewards and other benefits that come with a credit card. It’s hard to take advantage of these benefits if you constantly worry about fees, especially if you’re interested in moving balance transfer funds. Pay off the credit card balance in full every month, and you end up making money by using the credit card thanks to airline miles, cash back rewards and other perks.
When you look at the benefits that come from using a credit card, you get more than just your points and rewards. Those are great, but additional rental vehicle insurance, roadside assistance and fraud protection make a strong case for using a zero fee credit card as your primary payment source.
Avoiding Fees from Standard Usage
Balance transfers fees are commonly eliminated on a zero fee card. The balance transfer has a promotional period where the interest rate is set at zero percent or at least a rate significantly lower than the market rate. Balance transfers also have fees associated with the transfer itself that gets waived on this type of card, so you don’t have to pay for the privilege of bringing a balance to another company’s card. Pay attention to the promotional period for the interest rate, as you begin paying interest on that transferred balance at the normal rate after the initial period ends.
Annual fees are a common practice on many cards, from high-end American Express to starter credit cards. Regardless of the type of card you have, the last thing you want is an annual fee hitting when you’re near the credit limit. Look for cards that don’t charge annual fees, so you aren’t paying every year just to be a customer.
Credit cards come in all types, so it’s important to know exactly what type of card is the perfect fit for you. It’s hard to deny the benefits of a credit card with zero fees, especially when it has other rewards that make it even more worthwhile to use. The next time you make credit card applications, take the time to weed out high-fee and annual-fee cards.