Credit Card Fees Explained - Annual Fee

When you are about to apply for a new credit card or have recently acquired one you suddenly realize there is a plethora of fees that can
be associated with having a credit card. You can encounter an application fee and some card issuers also charge an annual fee.

The annual fee is charge once a year as long as you have the card and it can be anywhere from $25 to $300 some dollars each year.

Not all credit cards charge the annual fee. It is typical to have an annual fee with secured credit cards, charge cards, and sub-prime cards. For example you may have a card with a mileage rewards program and the issuer charges an annual fee for you to have the card.

You can ask to have the annual fee waived simply by calling your credit card company. Also your card company may waive the fee automatically if you use the card frequently and over a their specified dollar amount per year.