Credit Card Debt – How To Avoid Unnecessary Fees – Part 1
If you want to reduce debt, it’s important to avoid being charged unnecessary fees by your credit card provider.
But that’s where the problem begins. For years, banks and credit card providers have been making vast profits through a variety of extortionate charges and penalty fees.
In 2006 banks in the US raked in almost $28 billion in credit card fees. That’s more than $250 per US household, and it’s a similar story in many countries across the world.
However, in recent months, banks have had to cope with a slower increase in consumer borrowing, increased levels of bad debt and stricter regulations on the level of penalty fees that they can impose upon their customers.
So in order to replace this lost income, the banks have devised a range of sneaky ways to screw extra cash out of their customers.
So here are the most common credit card fees that you’ll experience and how to avoid them.
Number One – Low Usage Fees
Certain credit card providers have recently introduced a no-balance or low usage fee. This means that if...
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