Credit Cards » Glossary

Glossary

No Fee

No fee credit cards do not charge an annual fee for the use of the card. They may also allow you to transfer your balance to the card, to obtain a cash advance, and to go over your credit limit without incurring fees. There are usually conditions that must be met to obtain the no fee benefit, such as paying your balance in full each month. Failure to meet these terms can result in penalty rates as high as 30%.

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