Credit card annual fees in comparisonOn August 8, 2019 by admin
Credit card is a worldwide payment instrument that also works globally, including online shopping. Credit card as a payment instrument has not spread by accident. Often, you see, the credit card offers many benefits that other payment methods do not offer. These include, for example, purchase and product security and travel insurance.
However, credit cards are not carved from the same tree, but have their differences. Airport credit cards, for example, work differently from Premium credit cards. Another big difference between credit cards is whether they are annual or annual.
There are also big differences between annual credit cards: the lowest annual fees are 30 euros, while the most expensive ones can be worth 700 euros
Annual payments or interest?
Originally, the annual fee credit cards were intended to compensate for the high interest rates on the annual fee-free credit cards. When you purchased an annual credit card, you got a lower credit card rate. This was especially handy if you were eager for shopping and didn’t always pay the full credit card bill.
For example, Good Financial’s MasterCard Gold Credit Card does not have an annual fee, but instead has an interest rate of 10%, while the annual fee of the Good Financial Visa Gold Credit / Debit card is EUR 48 and the interest rate is 8.5%.
Today, however, this distinction is no longer necessarily true. This is because the role of annual fee credit cards has changed while credit cards have changed. No longer are credit cards just a means of payment, they also offer many benefits.
The benefits of credit cards are the best known for different types of travel insurance, but credit cards also offer discounts on rental cars and peek into airport lounges around the world.
Credit cards charged annually
We found out what kind of annual fees are currently on credit cards. Are you aware of the annual fee for your credit card?
The comparison includes comparable annual fees. For example, a Finnair Plus Diners Club card is free of charge if you are a Finnair Plus Platinum member, but for others, the annual fee is 50 euros per table. If the card has a monthly fee instead of an annual fee, the monthly fees are bundled into 12 months fees in the table.
When comparing, it is also good to take into account the fact that banks offer an annual credit card as part of a variety of service packages, such as a mortgage. In this case, there is often no separate annual fee on the credit card, which is embedded in the price of the service package. For example, Good Finance offers such as a deal for its mortgage customers.
What does an annual fee credit card offer?
A premium credit card usually offers more benefits than a so-called basic credit card. This includes, for example, travel insurance, purchase and product insurance, and concierge services.
Because annual credit cards are often offered as part of a service package, their price may not be considered. However, it often happens that when you switch from a bank customer to a regular customer, for example, you suddenly have to pay for services that you did not previously have to pay for.
For annual fee credit cards, it is important to evaluate whether the annual fee for your credit card is worth the money. Most banks have more credit cards available to different types of customers. Various gold and platinum cards can be interesting, but keep your head cool: premium and basic cards can have a surprising amount in common. For example, Purchase Security Comparison shows that Handelsbanken MasterCard and Handelsbanken Mastercard Gold, for example, have perfectly matched purchase and product security. The rate on the cards is exactly the same: 10%.
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