Low Fee Credit Card Offers
Posted May 3rd, 2010 and last modified October 10th, 2011Choosing a credit card can be as difficult and momentous as choosing a name for your baby. There’s low fee and no fee, rewards and miles, balance transfers, and more! There are the big name credit cards and a few little name ones, there are retailer cards…
When choosing a credit card, your choices are limitless! But with all that choice comes a fair bit of stress, too. So let’s try to take the stress out of choosing.
Chances are, the card they’re offering you is not low fee.
Have you ever received a credit card offer in the mail? The letter reads, in big, bold print, “You have been pre-approved!” But what exactly have you been pre-approved for? And are you really pre-approved? What does that mean?
The letter likely also offers great features on your new card, such as no fee, low fee, 0% interest, low interest, free balance transfers. Again, what does that mean? How can it all be so easy? And doesn’t it sound too good to be true?
Pre-approved is a lie.
There is no such thing as being pre-approved for a credit card. It’s simply not possible. In order to be approved for a credit card, the company must run a credit check. If you have not authorized them to do so, they can’t do it. And if it hasn’t been done, you’re really not approved for anything.
No fee and zero interest are half-truths.
You know when you have a new hair cut, and everyone you run into seems to say something along the lines of, “Oh! You got your hair cut. It looks…nice. But what’s really important is – do you like it?” We all know that person isn’t telling us the whole truth; s/he really wants to tell us that it looks awful!
What your amazing letter of pre-approval does not tell you when it offers super-duper unbelievable fees and interest rates is that their offer is only temporary. Six month down the road, give or take a few, you’ll be surprised to discover a standard (or higher than standard) interest charge on your bill. You’ll be shocked to learn that, upon renewal, an annual fee is now due.
Balance transfers are thievery.
Let’s say you owe $1,000 to credit card #1, but credit card #2 comes along and suggests, “How about I take over that $1,000 from #1, give you a nice, low interest rate, and you can take your sweet time paying me back?”
So you transfer that balance. You close out credit card #1, because that’s usually a requirement on transfers. And your minimum payments drop in half. It seems like a fantastic deal for you – at the time. But when that low, low interest rates expires, your payments skyrocket. Not only that, but you’ve just delayed paying that debt off longer!
Credit card #1 one made a bit of money off your debt, then credit card #2 stole from them and you and will make a whole lot more.
Choosing a low fee card for yourself.
If you want a credit card, and you want to pay lower fees, you’re best off doing your homework. Lucky for you, we’ve got tools that can help make the process stress-free!
Check out No Fee Credit Cards here.
Search by individual Credit Card Providers.
Or peruse our handy list of “Best Of” credit cards.
What are you looking for?
Look at cards that have an annual fee of $0, if possible. If you’re looking for a few more features than you can find with a no fee card, keep your eyes open for a fee that’s within your price range.
Read the fine print to ensure that the set fee stays there for the life of the card. Don’t sign on for a card who’s annual fee changes over time or circumstance.
Of course, you’ll also want to consider other features that appeal to you, such as credit limit, rewards/miles or other bonuses, interest rate, and how widely the card is accepted.
Ultimately, you have the power in your hands to choose the card that’s perfect for you. Don’t blindly accept whatever is offered. Instead, do your research and expect them to give you what you’re looking for in a credit card.
Featured No Annual Fee Credit Card
If you are looking for a no annual fee credit card without all the unnecessary features that helps you save then the HSBC Credit Card is ideal for you. With a $0 annual fee for the life of the card plus a 0% p.a balance transfer offer for the first 6 months you will surely get in control of your finances.
- $0 annual fee
- 17.99% p.a. on purchases
- 0% p.a. for 6 months with 2% handling fee on balance transfers
- Cash Advance Rate of 21.99% p.a.
- 55 days interest free
- Minimum Income Requirement of $20,000 p.a.
- Up to 55 days interest free on purchases
Top Low Fee Credit Cards
Using your credit card does not have to cost you a fortune. With the right card and responsible spending and bill payment you can even get the benefits of a credit card at no cost at all.
Check out today's featured offers:
| Westpac Low Rate | Citibank Clear Platinum | Qantas AMEX Discovery | ANZ Platinum |
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0% p.a. for 6 months on purchases & balance transfers |
2.9% p.a. for 12 months |
$0 annual fee Up to 10,000 Bonus QFF Points |
0% p.a. for 6 months on purchases & balance transfers |
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