If you apply for a credit card but never or very rarely use it, will you still be charged?
I’ve never had what I believe is a major credit card. I’ve always used my debit card. I’ve always wanted to apply for credit cards at stores I shop at, but am afraid I’ll be charged even if I don’t use it. I’m sure it’s different with different cards, but I just wanted to make sure and know if there was anything I should look out for. Thanks.
Some credit card companies do charge an annual fee for just having the card. Be sure to read the fine print carefully. Your bank _probably_ offers a credit card that does not have an annual fee, so check with them first. Discover Card does not have an annual fee, but their interest rate is very high (15.99% and higher) and they are not accepted everywhere (almost everywhere, but not everywhere).
You really should get some credit cards. Even if you don’t use them much it will help you if you want to buy a house etc. because you’ll need to have an established credit rating. Many cards have no annual fees and if you pay them off in full every month the interest rate is zero percent.
Some companies will charge you an annual fee, some will charge you a monthly % fee depending on a balance, it does depend on the credit card company. But please don’t open too many credit cards, even if they have a zero balance. Too many open credit accounts will indeed affect your chances in buying a future home. The banks will raise a red flag if you have too many accounts open, it will give them the assumption that if you run up your credit cards, you’ll have too much debt to pay and will default on your loan. Not good. One major credit card should be sufficient for you.
I agree with all of the above answers, also some credit card companies will charge an “Inactivity fee” for not using your card.
Remember, CC companies are in business to make money, if you are not using your card; they’re not making any money.