Description
Credit card fees can add up fast if you’re not paying attention. This video covers three of the most common fees — annual fees, cash advance fees, and foreign transaction fees — and how to avoid them by reading the fine print.
Questions answered in this video:
• What are the most common credit card fees?
• How can I avoid paying credit card fees?
• What should I look for in my credit card agreement?
Key takeaways:
• Annual fees: Some rewards cards waive the fee for year one, then charge it — know when the intro period ends
• Cash advance fees: Withdrawing cash with a credit card can trigger a 5%+ fee AND a higher APR than purchases
• Foreign transaction fees: Using certain cards abroad adds extra charges that pile up on your statement
• The best defense is reading your credit card agreement before you sign up
• Many no-annual-fee and no-foreign-transaction-fee cards exist — choose wisely
Our mission is to empower our members to make financial progress, one step at a time. We believe progress is a journey made easier with help, so we root our content in trusted sources and independent research to give you the knowledge to reach your goals.
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Learn more — check out this article: Credit Card Fees Explained: https://www.creditkarma.com/credit-cards/i/credit-card-fees
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