Personal Finance

Credit card fees?

  • Last Updated:
  • Mar 27th, 2015 6:33 pm
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Jr. Member
Dec 14, 2014
177 posts
5 upvotes
Mississauga, ON

Credit card fees?

I was wondering is there any fee to own and use a credit card excluding late payment fees. I'm interested in getting MasterCard.
10 replies
Deal Expert
User avatar
Nov 15, 2004
21783 posts
4903 upvotes
Toronto
If you go for a no-fee one, no. The credit card company makes its money off fees charged to merchants, not you.

This assumes you pay off your balance at the end of every month so they don't charge you interest.
Jr. Member
Dec 14, 2014
177 posts
5 upvotes
Mississauga, ON
Piro21 wrote: If you go for a no-fee one, no. The credit card company makes its money off fees charged to merchants, not you.

This assumes you pay off your balance at the end of every month so they don't charge you interest.
are there credit cards that carry fees and if so how high would the fees be?
Newbie
Mar 22, 2015
43 posts
Brampton, ON
Each card is different depending on the card features.

There are no annual fee cards and then there are cards that have different annual fee amounts dependent on the card features, you will have to call your bank (or look online) and they will tell you the different card types they offer.
Member
May 21, 2014
418 posts
59 upvotes
Toronto, ON
Michaelp1990 wrote: are there credit cards that carry fees and if so how high would the fees be?
Its hard to answer that. The fees can vary. Go on bank websites and check them out. Those that have annual fees tend to have better perks but you would have to ensure the cost is worth the benefits you would receive.
Deal Addict
Feb 10, 2003
1352 posts
1283 upvotes
Calgary
Michaelp1990 wrote: are there credit cards that carry fees and if so how high would the fees be?
Yes, there are.
Up to $2500/year for the Centurion card.
Banned
May 12, 2004
9756 posts
4136 upvotes
Ottawa
Strider wrote: Yes, there are.
Up to $2500/year for the Centurion card.
There is no such thing as a Centurion credit card. OP was inquiring about credit cards.
Deal Addict
Oct 12, 2006
2332 posts
710 upvotes
Alberta
Cas77 wrote: There is no such thing as a Centurion credit card. OP was inquiring about credit cards.
If OP doesn't know about CC annual fees, I'm also sure he doesn't know the difference between a credit and a charge card.
Deal Addict
Feb 10, 2003
1352 posts
1283 upvotes
Calgary
Cas77 wrote: There is no such thing as a Centurion credit card. OP was inquiring about credit cards.
Potato, Po-tah-to.
Don't you get stripped of your dignity and perm banned from RFD if you carry a balance?

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