Client Contests

Tuesday, September 13, 2011

5 Fees to Avoid & How

  1. Beware of the full cost in balance transfers - Transferring credit card balances may seem like a good idea for a lower interest, but be careful.  Some companies make you pay the interest of the amount of credit that you owe.  Check the fine print and decide which plan provides the best savings.
  2. Retail Credit Cards - Signing up for that credit card sounds really nice when they offer you that 10 - 15% off, but if you don't pay it off when the bill comes, that 10-15% has just disappeared.  If you say yes to the card, weigh the cost of the interest rates and make sure it's really worth it!
  3. Annual Fees on Reward Cards - Cards that have rewards come in handy when you want to get that item you normally wouldn't buy, but could "earn" it through normal purchases.  Sometimes these cards come with annual fees from $25 and up.  After you pay that annual fee, is the reward really worth it?  Fret not, there are several companies that offer free reward credit cards, Capital One, Chase and Pen Fed are a few.  
  4. Don't Dial 411 - When you dial 411 you will pay $1.25 or more.  There are two options to save you some money.  Microsoft's Bing has a number you can call (800) BING-411 or you can call (800) FREE-411, this number requires you to listen to advertisements first.
  5. Pesky Baggage Fees - You can't travel without luggage, and with the size requirements for liquids, its hard not to check your bags.  Unless you fly Southwest Airlines or JetBlue, you will pay something to check your luggage.  While not convenient and requires planning ahead, you can save by shipping your luggage ahead of your trip via FedEx, UPS or the USPS.

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