Watch out for rising credit card fees

Watch out for rising credit card fees
If you get the feeling that the annual fee for your credit card has been rising in recent years, you’re not wrong. An analysis by MWE Consulting reported by Lisa Macnamara in the Australian notes that fees have gone up by 170% in the past five years.
Of course, annual fees are only part of the story. If you’re paying extra in order to have a longer interest-free period, then the savings might be worth it, and the report notes that the biggest shift has been to low-rate cards with fewer features and a higher up-front fee. Those cards have an annual average fee of $48; if you’re paying more than that, it could well be time to migrate to a new provider.
Consumers hit by credit card fees [The Australian]

Log in to comment on this story!