7 On Your Side: New report highlights credit cards with highest, least fees
WASHINGTON (ABC7) —
A report from Creditcards.com highlights which cards have the highest fees, which have the least fees and what can be done to knock down monthly bills.
The average credit card charges six potential fees.
The cards with the most fees: First Premier Bank, BancAmericard and Blue Sky from American Express have between 12 and 10 fees according to Creditcards.com
"Balance transfer fees are a big deal, especially with so many people wrestling with credit card debt," said Matt Shultz of CreditCards.com.
Late payment and cash advance fees are nearly universal, the report says. On average, those types of fees can get up to $37 each time.
"Today's credit card market offers consumers more options than ever before. Consumers are in the driver's seat when it comes to selecting a card that best meets their needs and taking simple steps to avoid fees," said the American Banking Association.
Credit cards with fewer fees include: Pentagon Federal Credit Union, seven separate cards from Capital One and Sam's Club Mastercard.
"You can absolutely get cards to waive your fee whether it's an annual fee or a late payment fee and people would be stunned how often people are successful," added Shultz.