I am trying to avoid credit cards with high annual fee
By kingparker
@kingparker (9673)
United States
March 2, 2012 11:13pm CST
A friend of mine today asked me whether I interest in applying a Delta credit card, which would give away some thousand mileage, and she can also earn $50 recommendation cash reward. The catch is, the first year will be $0 annual fee, and from the second year, it will charged me $94 annual fee. With such idea, that really killing my interest in applying such credit card. To be honest, I would love to help out my friend who can earn some $50 reward by bring in new customers, but with that annual fee charge, I would simply not going to do it. Plus, I prefer use cash right now.
3 people like this
13 responses
@cheongyc (5072)
• Malaysia
4 Mar 12
I think it's not a good deal. Although it would be great to help out our friend, but it's not worth it because it's going to cost us a lot of long term annual fee expense. I know that some banks will waive the annual fee if you are willing to give them a call for such an appeal each year.
I am using credit cards which is not charging any annual fee. Further it's giving away cash rebate up to 5% on the transaction made.
Hope you can make a wise decision :)
@youless (112466)
• Guangzhou, China
4 Mar 12
Charging $94 for annual fee is quite expensive. I wonder whether you can cancel this credit card in the second year? Here my credit card company is fine. As long as I can use it for six times within a year, and any amounts will be OK. Then there is no charge at all. This is quite easy. I can just buy soda water in the supermarket and pay by credit card. I often use my credit card. So this is not a problem for me. In fact the credit card company doesn't charge us annual fee at all.
I love China
@ivan2000bd (1009)
• Sweden
3 Mar 12
i have five credit cards and most of them are annul charge fee. the strategy of selling credit card is to allure potential customers by issuing free credit cards. But when you avail credit cards, it will start creating pressure on you. the interest rate and other hidden charges will ruin your life. this is why always advise people not to take any credit cards.
@godslove25 (402)
• Philippines
4 Mar 12
Hello. Here in our country Philippines, in applying for a credit the first year is also waived for the fee and in second year you really got to pay for the annual fee if your credit card is still ACTIVE. So I advice you to terminate your credit card before the second year but be sure all your debts are paid. So that no annual fee will be charge to you,then the good thing you helped out your friend in having a reward of $50. Does it sounds good?
@craziestqueenever (1819)
• Philippines
3 Mar 12
For me, I opt to say "NO" to credit cards. I'm the type of person who want to have a good name and a clean record. I don't want to live in a world where Credit Card Collector is chasing me. That's good that you declined that credit card offer.
@3SnuggleBunnies (16374)
• United States
3 Mar 12
I would not apply either. Honestly, too many credit card payments get very confusing and as you said an annual fee is a big turn off to me as well right along with balance transfer free's.
@yanzalong (18988)
• Indonesia
3 Mar 12
If possible, avoid credit cards. But if you already have it, don't use it often. Many of my friends are already in trouble paying the bills. They can only afford to pay the minimum amount every month, while the unpaid will be charged next month + high interest.
@randylovesdar (4932)
• United States
3 Mar 12
That is a high annual fee. If I had a small enough credit card I would take it so I can have some time to pay it off before the end of the end. I think it is great that you want to help your friend, but I agree that it is a high rate. I do not want any credit cards as well because I have a couple to pay off myself.
@fantasticbabe (981)
• Philippines
3 Mar 12
i am not a fan of credit card even when i go to some mall and some credit card agent approach me with lot of promos and discounts. it never get my attention and i would never attempt to have a credit card. it would only make me in debt, since when i have a credit card the temptation s very high, i would be using t to purchase without thinking of the penalty and interest associated without paying it monthly. so to avoid headache, just avoid t.
@WakeUpKitty (8694)
• Netherlands
3 Mar 12
I think it's a smart thing to do to check those fees as well.
But what I will never understand is why so many people have so many credit cards.
Over here it's not easy to get one, esp. not if you don't have a high income or already have many debt, a cellphone etc etc.
Personally I don't see the use of it, except when my car is broke and I need a substitute to go back home or in some cases you need one if you order something by the internet (travelling papers etc).
I wonder what is wrong by just spending what you can pay for or saved for?
@jhuddith (222)
• Philippines
3 Mar 12
My friend, stay away from getting a credit card as much as possible. I used to have 4 credit cards but I decided to have it cut. Aside from not paying annual fees, I can also better manage my finances without it. Because the moment you start using the credit card when you buy or shop, you are simply making it a habit to spend before you actually earn. For us to better manage our finances, it is much advisable to earn first prior to spending. So, I suggest, if you do not really need a credit card, then don't have one.
