As we all know that credit cards do not come for free. Different types of credit cards are charged differently. There are various kinds of credit cards which charges different sort of fees. The following is the list of various fees available:
Annual Fee: It is a yearly charge that is imposed on a credit card holder. Cards like secured cards, charge cards, and sub prime credit cards have this fee structure. It usually varies from $25 to $300/year and is charged once a year.
Some credit cards waive the fee if you can make a certain amount of purchase.
Application Fee: You have to apply to get hold of this credit card. When you apply for a credit card, then you shall get an application form. Mostly secured credit cards have an application fee.
Cash Advance Fee: This is charged for making a cash advance. Those cards which permit you to withdraw cash advance charges this type of fees. It is actually 1-3% of the cash advance transactions.
Balance Transfer Fee: This is charged during a balance transfer. The cards which allow a transfer of balance have this fee. It generally ranges from 1-3%. It is charged on single transfer of balance.