by Amber Hilton

Created on: January 11, 2010

Credit card companies charge fees for a variety of reasons, including balance transfers, late payments, over limit charges and cash advances. However, the term “no fee credit cards” typically refers to credit cards that do not require an annual fee. Annual fees are an unnecessary fee that credit card companies often try to sneak past credit card applicants by offering low introductory interest rates or attractive reward programs. Like a membership fee at your local gym or discount store, annual fees must be paid every year for no other reason than to remain a cardholder. Even if you don’t use the card, you’ll still be charged the annual fee.

Fortunately, not all credit card companies charge this unnecessary hidden fee, which can be avoided by shopping around and reading the fine print on all credit card offers. Another way to find credit cards with no annual fee is by searching for offers at websites like Credit.com or Creditcard.com, which allow users to select a wide variety of search criteria to find credit card offers that best meet their needs. Unfortunately, “no annual fee” is not currently one of the search criteria, but search results are organized in such a way that typically clearly displays whether the card has an annual fee or not.

Using websites such as these, applicants can select other important criteria, such as low interest rate, type of rewards program or level of credit score and then quickly find the information about annual fees within the search results. Remember that annual fees are a completely unnecessary extra cost and there is generally no reason to apply for a credit card that requires an annual fee. Credit cards can be found that offer low interest rates with no annual fee, so don’t settle for an annual fee just because it is attached to a low interest rate card or attractive introductory offer.

Banks are also known for offering credit cards with no annual fee and can be an excellent place to start if you already have a good relationship with your bank. Regardless of where you find your no fee credit card, make sure to read the fine print and establish that there really is no annual fee, regardless of any additional circumstances. Many companies that advertise offers for no fee credit cards actually still have hidden fees that only apply in certain situations, so be sure to read all stipulations carefully before applying for any credit card.

As you can see, credit cards with no annual fees are readily available, but it is up to you to find them, which may require some investigative work and patience for fine print. However, the money you save by not paying an unnecessary annual fee will be well worth your time and efforts.

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