Visa No Annual Fee Card Features

2007-11-09 05:11:17

( Financial )



If you have a good credit history, chances are your mailbox contains a wide range of credit card offers. Some of these offers may include a Visa no annual fee card from your local banks. Other offers may include cards with low interest rates, high credit limits, and waived MasterCard fees. Before you fill out an application form, make sure to have read the fine print and to shop for the best deal on credit cards.

It is generally a good idea to take advantage of low-rate credit card offers. But you should know that low-rate cards may come with a high annual fee. In contrast, no annual fee credit cards come with a higher interest rate. If you intend to pay your bills in full every month, without carrying a balance, you would rather have a Visa no annual fee.

Although the interest rate of a Visa no annual fee card may be higher compared with cards that require annual fees, it is not going to be an important card feature for your needs. Just make sure you know the grace period of the Visa no annual fee card in order to avoid paying any finance charges in case you miss to pay on the due date.

The Visa no annual fee card comes in two types: the classic and the gold. Both carry features such as travel accident insurance, auto rental insurance, and emergency replacement card in case your card is lost or stolen. Their only difference is the amount of the credit limit and the insurance coverage.

If you plan to carry a balance on your account, then Visa no annual fee card may not make sense to you. You may be better off with a credit card with lower annual percentage rate (APR), even if the card imposes an annual fee.


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