Does Capital one charge a late payment?

Question

i would like to get a credit card solely for emergency purposes. But i dont want to pay a monthly fee if i dont use it. I am 18 and dont have enough credit to go with another credit card company. Capital one sent me an offer. I would like to know if they charge a minimum fee, because the only time i want to pay anything is when i use the card. Does anyone know if their are a minimum fee?? or a monthly fee??

Answer 1

There is no monthly inactivity fee, ie. if you don't use there is no fee. Typically most of Cap One's cards don't require an annual membership fee (AMF), but you'll need to read the fine print to make sure.

Answer 2

That totally depends on the offer. A LOT of creditors have special cards that they offer only to "people new to credit" The type of card may have an annual fee or a membership fee.

Rarely do they have monthly fees unless you carry a balance and/or neglect to make the minimum payment. Then you will be charged interest (finance charges) and a late fee.

Answer 3

There is no monthly fee if you have no balance. Once you use the card, you'll have to pay it off within the grace period to avoid the interest payment in addition to your balance. If you are late paying the bill, you will pay a penality as well as a higher interest rate on the remaining balance. Most good credit cards will have an annual fee.

If you had an emergency, it would be better to use cash. Open a savings account with no monthly fees. Check out ING.

Answer 4

theres no monthly fee's or minimum fee's but like every credit card they do have late charges .

Answer 5

That should be stated in the offer. Read it and read it again.it's a contract.,