Noone i
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Many cards do charge an annual fee or a signup fee.
More importantly, check the percentage rate, the fees for over limit, rate increases, etc. Those are the ones where they nail you! |
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Mountain Top
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That's an awfully high initial fee. The part about it being "interest" rather than an "account opening fee" is for internal book-keeping, accounting, and taxation.
I would pass on this card. The usually fee is zero on a card with relatively high interest rates, and around $50 for a card with lower rates, but an annual fee.
If you actually use the card to make purchases (I buy about $60,000 / year) then you may be able to negotiate the annual fee with the company. They simply want to cover their costs with the annual fee, and make money on the transactions and interest. If they think you will make them money on fees, they will give you the card for free. |
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All I Hear Is Blah Blah Blah...
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Yes..Many companies will charge you upfront before you even receive the card. Some companies have an annual fee that they charge and they will take it off your card right from the start..I guess they think they are doing you a favor getting it out of the way. They might also be charging you a membership fee. And a processing or start up fee in order to "Get your credit card"
There are cards out there they have very minimal or no fees..Good for you for at least reading the fine print first..A lot of people don't, then they are shocked and angry when the $1,000 credit limit card they signed up for arrives with only $800.00 left on it.
(Been there...done that) :P |
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kadnil
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I don't know about England but in Canada they have what they call an annual fee and yes they can charge it when they distribute you the first card. Find out if that is a one time charge or do they take monthly or annually. |
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brokerstorage
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Some credit cards come with a fee, usually these are subprime credit cards for people with alright credit or for those just starting out with credit. |
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muncie birder
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What you need to do is call the credit card company and ask them to explain the meaning of that statement. The way you have phrased it in this question certainly appears as if they intend sticking it to you. |
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cajun_gurl
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i have heard of american express charging an annual fee. but it is somewhere in the neighborhood of $50 us. i have never heard of a charge for a credit card. i would call capital one and ask them first!!!! |
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jade2311
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most company's do charge you to get the card. Read all of the fine print three or four times. My friend got a card that was "free" ended up being like 200.00 to get it started and then montly fees....ouch |
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gromit801
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I've never once had to pay a sign up fee or an annual users fee. Shop around.
As to the complaint about Capital One, they only time their rate will go up is if you are late with your payment. ALL credit card companies till hike up your rates if you're late with payments. |
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SLF
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I imagine, though you don't specify, that you're transferring a balance? This would be the estimated cost of the interest, in that case, not a charge for credit as such.
Capital One isn't the cheapest of credit cards, though. I seem to remember from their ad that the APR is about 17%? That's quite high. You should also check whether there's a fee for transferring the balance, or any annual fee for simply having the card.
Personally, unless I had a poor credit rating, I would be shopping round before signing up to this particular company. If you buy the Guardian on Saturday (or probably any national broadsheet) the finance section lists the best buys in credit cards, or you could try one of the internet finance sites like moneysupermarket.com. |
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debraalbagli
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Watch out for Captital one.They prey on people with poor or no credit.I have seen them hike a interest rate up to 30%!!!!! Pass on that card!!! |
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Pretty Woman
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capital one ruined my life...pass it on |
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