No Annual Fee Credit Card Perks
Credit cards with no annual fee are very common today. With all the media hype about high credit card debt, banks are offering many special perks to get your business and be competitive with other banks. ?One of the most common perks offered is no annual fee. While this may not seem like much of a savings, it can add up over time.
In addition, while one credit card company may only charge an annual fee of $10, another may charge over $100 for their annual fee. One of the worst things about cards that charge a high annual fee is that it often comes unexpectedly to the borrower. If they’re the type of spender that keeps their credit card right under the credit limit, the annual fee may cause them to go over the limit, incurring an over-the-limit fee, which is charged on certain cards.
Credit cards that offer no fee will also often offer excellent interest rates. Some even feature a 0% APR introductory rate for up to 12 months. Not only are you paying no fee but you’re also borrowing for free for a year. Cards such as this that also offer balance transfer give the borrower the opportunity to pay off other credit card debts and transfer the balances onto their new no annual fee 0% APR introductory credit card. They can then make monthly payments with no fee or interest being charged.
Other perks you may see with no fee cards are reward points and rebates. They give you points for each dollar spent with the card and the points can be redeemed for certain merchandise or you may get the cash as well. No annual fee, low or 0% interest rated (introductory period) offers as well as bonus points are an excellent deal and allow you to save a lot of money over the term of the card. This is especially true if you’re a borrower that pays your balance in full each month.
