Does the bank charge you something even if I don't make any purchase or if I repay it in time every time?
2007-03-10 03:39:49 · 17 answers · asked by Anonymous in Business & Finance ➔ Credit
Not as long as the card you have does not have an annual fee.
2007-03-10 03:48:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No- unless you have an annual fee- which would be £5-£10 but not many cards charge this. Use it like you describe and you are doing what every top economist would advise but not the credit card company!! You are quite within your rights. Avoid the interest at all costs and you can borrow money for a short time for nothing!! Yippee
2007-03-10 11:45:46 · answer #2 · answered by brainlady 6 · 0⤊ 0⤋
Hi - it all depends on the credit card provider. Many cards are free to use and if you repay the balance each month you will not be charged.
Some card providers charge an annual fee.
It is best to check the terms and conditions that came when you signed up for the card - or look on the provider's website.
2007-03-10 11:45:37 · answer #3 · answered by wdwtravels 1 · 0⤊ 0⤋
The answer is... IT depends..
There are two fees you need to look for in your "disclosure statement" (the booklet with all the fine print...)
1. Annual Fee - a fee the bank charges to keep your account open
2. Dormant Fee - a fee the bank charges if you don't make at least one charge within a certain number of billing cycles (i.e. 3 months...)
Dormant fees are a new trick that credit card companies play to make money.. If your not charging, your not paying interest to them, so they want to make money off of you somehow...
2007-03-10 13:55:06 · answer #4 · answered by Michael W 3 · 0⤊ 0⤋
Some cards have an annual fee, sometimes it is contingent on whether you use the card or not (the bank's logic is that they need to make money from you just to maintain the account)
Check you monthly statement on the back- look for either "annual fee" or "maintence fee" - it should state wheter one exists or not, and if so, what the conditions are.
2007-03-10 11:45:44 · answer #5 · answered by pavano_carl 4 · 0⤊ 0⤋
Apart from annual fees or card protection, probably not. That said, there are movements in the market to charge low(no) volume users.
2007-03-11 16:37:56 · answer #6 · answered by cafcnil 3 · 0⤊ 0⤋
Not usually but it's best to check with your bank, there are so many differnet deal around. It's like airline seats everyone seems to pay a different price and banks keep tightening the screws so things are always changing.
2007-03-10 11:45:31 · answer #7 · answered by sunshine 2 · 1⤊ 0⤋
If you repay in full each month then there are no charges at all - unless you've fallen for one with an annual fee ! ! !
2007-03-10 12:12:19 · answer #8 · answered by Anonymous · 0⤊ 0⤋
No, unless you have the type of card that has an annual fee or you pay for card protection.
2007-03-10 11:45:25 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Yes. (Annual Fee)
NOTE: Some banks don't charge annual fees.
2007-03-10 14:20:35 · answer #10 · answered by Anonymous · 0⤊ 1⤋