Credit companies charge customers fees based on a rendered service. These include Balance Transfer, Annual Membership and even Late Payment Fees. All of the following are fees typically charged by credit card companies except: “Reload Fees”. That’s right! a reload fee is normally charged on prepaid cards, learn more about this below.
Note That All Of The Following Are Fees Typically Charged By Credit Card Companies Except:
Typically credit companies will charge some fees, such as;
- Annual Membership Fee: Which is charged by the credit company to all holders of their credit card. The fee may differ based on the category the credit card holder belongs to.
- Balance Transfer Fee: A balance transfer fee of between 3 to 5 percent of the transferable amount may be charged if the debt is transferred from between two credit cards.
- Late Payment Fee: Whenever a debt on a credit card is not paid as at when due, a late payment fee is charged by the credit company.
All of the following are fees typically charged by credit card companies except if the cardholder does not possess a credit card.
All Of The Following Are Fees Typically Charged By Credit Card Companies Except: For Those Fees Charges On Prepaid Cards
- Finance Charge: An interest placed on credit card balance.
- Over-limit: An amount charged when you overshoot your respective credit limit.
- Foreign Transaction: This is a sum charged (between 1 to 3% of the transaction amount) on any transaction done outside the US.
- Returned Payment: A sum charged when a direct debit payment from your account in settlement of your debt with a credit company fails to materialize due to inadequate funds in your account.
All of the following are fees typically charged by credit card companies except: for fees that are charged for using a prepaid card like the “Reload Fee”.
Reload Fees Are Not Credit Card Fees
In closing, every one of the fees highlighted here is for credit cards except for reload fees. These are fees charged on real money prepaid cards. A Reload Fee is one that is charged only on prepaid cards each time real value money is loaded on the prepaid card for use.