I have zero credit and this credit card is for zero credit people and it says annual fee is $49. What does that mean..just to get it the card or every month or what? thank you.
2007-09-13 05:43:14 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
Annual = 1 time per year.
2007-09-13 05:50:54 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋
Keep looking around. There is absolutely no reason you should have to pay an annual fee.
I just got my first Credit Card this summer and I had zero credit. I was approved for the Chase AOL Rewards card...you might want to check that one out. You get points for your purchases.
Check out Capital One also.
Be patient and keep looking...don't bother with the annual fee ones. What will happen is once you get approved for a card you will you many offers in the future. If you accept a card with a fee....you will probably end up getting another card in the mail the next week that does not have a fee....but if you cancel a credit card ...it hurts your credit score.
2007-09-13 05:58:01 · answer #2 · answered by Megz 6 · 1⤊ 0⤋
The Annual Fee of $49 is charged to your card once a year just for having the card. They will probably send you the card and wait a month to charge the fee. Just make sure you leave enough of a balance so when that charge does show up it won't put you over your credit limit. Some credit card companies like to do that just so you have to pay an over the limit fee.
2007-09-13 05:57:23 · answer #3 · answered by fwjb24fan 1 · 0⤊ 0⤋
Its a card with more than likely a high interest rate (so watch out on your min. payments) and the annual fee is very common in the credit card industry - most range from 30 dollars to just over a hundred annually. The card you have is for people with little or no credit who are looking to establish credit.
Keep your credit level low ($500 or less) and make your payments on time and you will start building some good credit. I would advise to look at the interest rate and compare it with outers to see if you can save some $$$.
2007-09-13 05:52:44 · answer #4 · answered by BREW 2 · 0⤊ 0⤋
It means that you get charged once per year $49 to get the card. Some cards break this amount up and charge you a small amount every month. Others charge you when you get the card (so it automatically has the $49 charged to it) and then once per year on your anniversary date after that.
$49 is a little high...I would check around I bet you can find one with lower annual fees, I know capitol one has one that is only $29.
Good Luck
2007-09-13 05:52:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The annual fee is for once a year. Shop around. There are cards out there that you can get with no annual fee. Google it on the internet. I would only get that one as a last resort.
2007-09-13 05:54:06 · answer #6 · answered by kim h 7 · 1⤊ 0⤋
They want you to pay $49 a year to have the card. That is even if you never use the card and never carry a balance.
2007-09-13 05:51:57 · answer #7 · answered by Michael B 5 · 1⤊ 0⤋
You can probably find a credit card out there with no annual fee. Citicard.com and discovercard.com will have some good rewards programs for you.
the book here http://www.amazon.com/gp/redirect.html?ie=UTF8&location=http%3A%2F%2Fwww.amazon.com%2Fexec%2Fobidos%2FASIN%2F1600200400&tag=thestateofart-20&linkCode=ur2&camp=1789&creative=9325 is a great resource for money issues, especially credit cards and banks.
Good luck!
2007-09-13 14:39:15 · answer #8 · answered by JF 3 · 0⤊ 0⤋
well if that would be the case you must find and ask another bank that won't do the same from the previous before you open a new account
2007-09-13 05:54:10 · answer #9 · answered by manskimedalle 1 · 0⤊ 0⤋