One issue that most credit card holders complain about is the hidden and miscellaneous fees that they thought they did not sign up for when they applied for their cards.
Credit card fees are a fact of life these days.
Credit issuers not only make money out of each transaction that you put on your card, they also make a profit from late fees, cash advance fees, balance transfer fees, and other not so obvious fees..
Many credit card holders know about the most obvious fees such as the annual fee and balance transfer fee, but it is surprising how many consumers don't read the terms and conditions for their cards to find out about other fees.
That can only lead to major surprises on your bills at the end of each month.
Here is a selection of not so obvious credit card fees that you should know about: Late payment fees: many folks know about this fee but are not aware of how it is structured.
Major credit card companies often charge late fees based a tier-based structure.
For instance, you may only be charged $20 in late fees if your balance is less than $250 and more if you are over $250.
You can only find out about this information if you read the terms and conditions.
Cash Advance fees: many folks assume that their cards do not come with a cash advance fee.
However, that couldn't be further from the truth.
Most credit companies charge a percentage fee (usually 3%) for cash advances, but it could be less or more than that depending on your card issuer.
Over-limit fees: going over your credit limit does bring you more fees at the end of the month.
But most credit card companies charge you based a tiered structure based on your ending balance.
Returned payment fee: if your bank returns your payment to your credit card, you can expect a $20-50 charge on your bill at the end of the month.
It could be that you didn't have sufficient funds in your bank account or you entered the wrong account information for online payments.
Either way, there will be a cost.
Balance transfer cancellation fee: credit companies are after your business and they want your business so much that they will penalize you if you change your mind in the middle of the process.
If you cancel a balance transfer transaction, you should expect to be charged.
Foreign transaction fee: if you use your card to conduct foreign transactions (in a foreign country), you can expect to be charged 3-5% as foreign transaction fee.
Your card maybe accepted everywhere, but there will be a charge.
At the end of the day, you should always refer to terms and conditions of your credit card to find out about the not so obvious fees as your credit company will assume that you are aware of these fees.
Your credit card issuer won't think twice before charging you these fees.