What you do not know about credit card fees can kill you
December 15, 2006 | Credit | 
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When applying for a credit card there are several things to consider. The annual percentage rate (APR) is an obvious consideration, but fees can be astronomical with some cards and should be given some serious review.
Each card has their own billing structure and they can call these fees any number of different things:
Participation Fee
Monthly Service Charge
Over Limit Fee
Phone Payment Fee
Late Fee
Annual Membership Fee
Credit Protection Fee (optional but they will try and bill it to you)
These fees also eat up your credit limit and you will be charged over limit fees if their fees take you over the limit. Many of these fees can be avoided by being on time and paying by check or online. Making phone payments, going over the limit, or being late will cost you significantly. So look carefully at the list of fees and monthly charges before accepting a credit card.
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