The high cost of credit cards
Card companies don’t nickel and dime you. It’s more like $10 or $30.
Bankrate.com released its first Credit Card Study that looks at the terms offered by major credit card issuers.
Among the findings:
— Late fees averaged from a low of $20.70 to as much as $38.50
— Go over your limit and pay an average fee of $32
— You’ll pay at least 3 percent on cash advances, or more if your card comes from Bank of America, Wells Fargo or US Bank
— If you talk to a human while making a payment over the phone, you’ll pay $10 to $15
— Grace periods now run from 20 to 25 days
Makes you want to use cash.
