Do you know the costs associated with your credit card? Do you really know? Many people assume they do, but they are not aware of the hidden fees that many credit card companies are charging month after month. In fact, if you do not keep a close eye on your credit card, you may end up paying hundreds of extra dollars per year without knowing it! And if you're trying to budget their money, those hidden fees can add up! Let's look at some of the credit card fees more common, and then talk about how to prevent it. Filed under: Glenn Dubin. Late Fees This is the only one that probably most people and is a capitalization by so many other factors affect the total amount of their credit assessments. When is the last time you checked to see how much of your credit card company charges you a late fee? The truth is that these rates have doubled in the last ten years and that, combined with reduced grace period which I will shortly, means that credit card companies are raking in a lot of money in late fees! If possible, you should try and send the check (or electronic transfer) the day you receive your credit card bill each month. There are three reasons why it is important not to be late and these are essential to comply with maintaining a good credit score and lower rates. The first is obvious: you want to do everything in their power to avoid a strong late charge.
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