![]() For example, if you applied for a card with a $5,000 credit limit and the annual fee is $95, your new credit limit will be $4,905 until you pay your bill. Since your annual fee is applied to your charge account automatically, that will affect your credit card limit. ![]() If you do not pay the annual fee in the billing statement you receive it, you will start to pay interest on it. ![]() You will see that same charge on your card anniversary. For credit cards with annual fees, the charge is applied to your account as soon as you are approved. What Are Annual Fees?Īn annual fee is a set charge that occurs yearly. We’ve gathered everything you need to know about choosing a no annual fee credit card so that you can make the best decision for your finances. No annual fee credit cards are a good choice for individuals new to the credit card space because these cards can save you money automatically whenever and wherever you spend money. ![]() But just how do no annual fee credit cards work? Not all credit cards come saddled with an annual fee. American Express is not a partner of Slickdeals.ĭon’t let the thought of paying a high annual fee scare you away from credit cards. This page may include information about American Express products currently unavailable on Slickdeals. However, opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain. This may influence which products we write about and where and how they appear on the page. Most products on this page are from partners who may compensate us.
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