Don’t make the credit card companies richer by incurring fees.

ConsumerAction, a non-profit consumer advocate group, reports that credit card fees cost card holders approximately $13 billion every year. Avoid late fees by reading the fine print to find out the grace period and due date for your payment.

Some companies state that a bill is also due by a certain time on the due date. For example, if your bill is due by noon, you could incur a late fee if the credit card company receives your payment at the end of the day. Credit Answers does not recommend that you keep a high balance on your credit card because of the negative effects of credit card debt and you also run the risk of obtaining an over the limit fee. A late payment could also allow a credit card company to impose a late fee in addition to an over the limit fee. Reading the fine print may also alert consumers to the fact that credit card companies may charge a no balance fee if you pay off your balance in full or apply an inactivity charge if your account has been inactive for a certain period of time.

Credit card companies also charge fees for cash advances and balance transfers.

Credit Answers - Credit Card Debt Solutions

Credit Answers - Credit Card Debt Solutions