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No Annual Fee Credit Cards

Written by Kathleen Gagne
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While all credit cards cost money, there are some that are a lot less expensive than others. Some of the key factors that mean your credit will cost you less are interest rates, whether there are monthly maintenance fees, what it will cost if you make a late payment, and, finally, whether the card carries an annual fee. Annual fees have really jumped in the last few years, and this fee alone can be a major factor that negates the lower interest rate by adding significantly to the cost of your card.

If you have good or great credit, you will be able to find credit cards on the Internet that do not include an annual fee. They may, in fact, also have a low interest rate. In general, cards with no annual fee also carry no monthly maintenance fee. They are intended for good credit risks, such as people who have established good credit over several years.

No Annual Fee Credit Cards Can Save You Money

Have you ever been in a situation where you were close to your credit limit on a card, made a payment that you thought would bring your balance down far enough to keep from going over, and then received a bill with a $79 annual fee tacked on? Has the annual fee put you over the top and cost you an over-limit fee of $39? That can get pretty expensive.

When you get no annual fee credit cards, make sure that the deal is for an extended period of time and that late payments or an over-limit instance will not negate the no annual fee agreement. Just about everyone has an occasional slip, and you don't want to find yourself with an annual fee because you made a late payment. As always, read the fine print and your relationship with your credit card company will go smoothly.

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