If you own a credit card, you are subject to several types of fees. Most fees are activated if you make a certain transaction, or if you fail to complete a certain action.
Credit cards have late fees that vary from credit card to credit card. Late fees can range from $29 to as much as $49. If your payment is one day late, you can incur a late fee.
When you go over your credit limit, some credit card companies will charge an over-the-limit fee. These fees vary from credit card to credit card.
Credit card companies allow you to take out cash advances. A fee for this transaction can be as much as 3 percent of the cash advance. Some credit cards will impose a maximum dollar amount on the fees, such as $75.
Some credit card companies charge annual fees that are applied to your account the same time every year.
Some bad credit card accounts charge a monthly maintenance fee.
If you do a balance transfer, you may incur a fee. Balance transfer fees are usually 3 percent of the balance transferred, and there is often a $75 maximum fee.
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