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Strategies to avoid credit card fees

Credit Cards » Strategies to avoid credit card fees

Check for annual fees
Check for annual fees © Ana Blazic Pavlovic/

Check for annual fees

For a while, this fee was primarily seen attached to credit cards co-branded with an airline's loyalty program, but issuers are beginning to bring it back for more generic cards. For instance, Bank of America has begun assessing a $59 annual fee for some of its credit card holders, the same amount that Capital One charges for its Venture Rewards card. While the fee might be offset by the benefits -- some travel rewards credit cards will reimburse you for checked-bag fees on airlines -- which may make the fee justifiable if you travel often.

Of course, it's easy just to avoid an annual fee  when looking for a new credit card by avoiding those cards that charge one. Consider seeking out cards issued by smaller banks or credit unions as well. If a card you've had for a while implements a new annual fee, though, that can be more difficult, but it's worth calling the issuer's customer service department and asking them to waive it for a year.


Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

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