Does having a credit card cost money?

Question

I am getting my own credit card soon to help build credit, but I really don't want it to cost me much.

If I have no annual fee, and pay my (tiny) balance every month on time, will there any cost associate with keeping the card? I will only have to pay an amount equal to purchases, correct?

Answer 1

0% interest is only temporary.  If you don't pay your credit card off by that time, they hit you with interest rates, usually high, which sucks, because it makes it hard to pay off if you have a big balance.

Answer 2

If you get a no-fee credit card and pay your balance in full and on time there will be no cost to you.  

Answer 3

Yes. you are correct. But, if you play the credit card game long enough sooner or later you will lose. Once you start losing at the credit card game it's hard to get out of the game. High interest rates and late fees. They make the rules and can change the rules in the middle of the game. Credit Cards along with the fico score was designed by banks to get people into debt and keep them in debt.

If you pay as you go. If you live on less money than you make. You'll have money and not have to worship at the alter of the great fico.

Building your fico score is the biggest joke of 21st century.

Answer 4

Get a card that does not have an annual fee or monthly fee.  Use the card and pay the balance in full before the due date.  You won't have to pay any interest.  That's the best way to build your credit history. You save interest and stay out of debt.

Answer 5

If you pay the outstanding balance in time, there will not be any interest or finance charges. You could always call Customer Service to make sure that there is no annual fee on your card.

Amex Blue does not charge an annual fee so not all Amex cards have fees.

Answer 6

Correct.  As long as you pay the balance in full every month, there are no extra charges.

Answer 7

Your right. If you have a no annual fee card and pay in full every month there will be no hidden charges

Answer 8

Typically, a new credit card issued to anyone as their first credit card, is going to have an interest rate of 18-21%!! That's a lot!  Don't go crazy with it - as hard as it is, only spend a small amount per month on it, and pay it off before your statment date - that way you will not pay interest, and still build your credit.

Answer 9

Oh, Izzy. It costs a LOT more than money.

That's why I don't use mine. (Well, I my self don't have one, but my parents do... and they don't use theirs. Credit card debt is hard to get out of.)

Answer 10

no annual fee and pd OFF ON TIME you should not get charged. It should help build your credit.  Read the fine print on the back.  If you don't understand any part of it call and make sure that you do understand.  some cards have clauses that change after time.  Be smart or you will get yourself in a mess

Answer 11

American Express charges 150.00 a year.

Answer 12

there will most likely be no fee to keep the card but check the fine print