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I Found the Most Outrageous Hidden Credit Card Fees So You Don't Have To
Authored By: Tiffany Houghtaling on 1/16/2019

Avoiding hidden fees is simple, apply for an FCU credit card! As an employee of Frankenmuth Credit Union, it’s pretty easy for me to suggest that, but I’m willing to bet you may be reading this to find out a few other ways to avoid hidden fees and penalties.

As a FCU cardholder myself, I will be honest and say I did my fair share of research before applying for our credit card. What I found was a wide variety of cards that sound great upfront, however once I dug a little deeper and read their terms and conditions, I found many things that didn’t sound so appealing. I’d like to share some examples of what I’m refering to.

Let’s take a look at our first example, we’ll call them Bank A. When first visiting their website, they appear to have some great rewards for travel.

Let’s say the information above sparks your interest and you decide paying $95/year doesn't bother you. You then take a look at their terms and conditions. Here's where we start to see a few more negatives. Not only are the rates rather high for purchases, if you decide you needed to make a cash advance from the card, you'd be paying the highest interest on the funds. 

Bank A Example

On top of paying the highest interest, you'd also be charged a fee for cash advances and transfers.

Credit Card Example A 2

Lastly, we see that they have a late fee of $38, here's where I began looking into other cards.

Credit Card Example A 3

Bank B is our next example, again we will start with all the shiny offers. They offer 5% when shopping at their selected stores, 2% at restaurants, gas stations, and drugstores and 1% for all other purchases. They also have no annual fee and no foreign transactions fees. Sounds like a pretty great card, let's dig a little deeper.

Example B CC 1

You may have guessed things would take a turn here, starting with the rates. You wouldn't want to carry a balance at  rates this high and the cash advance rate is even higher.

Example B 2

Although there are no annual fees, there will be a fee charged for balance transfers and cash advances. Also, you'll see a $38 fee for late and return payments.

Example B 3

Now Let's look at our FCU Cards, here's what we see upfront for our two consumer products.

FCU's Diamond CashBack MasterCard

  • Low Rate
  • Earn 1.5% CashBack on all Purchases
  • No Cash Advance Fee
  • No Annual Fee
  • No Balance Transfer Fee
  • Flexible Repayment Option
  • 24/7 Fraud Monitoring
  • Free CardNav App gives you the power to control your card

Apply Now

FCU's Simply Platinum MasterCard

  • Low Rate
  • Earn Rewards on Each Purchase for Travel, Merchandise or Cash
  • No Cash Advance Fee
  • No Annual Fee
  • No Balance Transfer Fee
  • Flexible Repayment Options
  • 24/7 Fraud Monitoring
  • Free CardNav App gives you the power to control your card

As we saw previously, just because the upfront offers appear to be great, you still need to keep looking. Even after scrolling through the terms and conditions you will see there are no hidden fees or penalties. Great rates anywhere from 7.99%APR - 18.99%APY, awesome rewards, no annual membership fee, no cash advance fees, no balance transfer fees, and low late payments fees. On top of all that, we offer 5.9%APR or 12.9% (based on credit score) on all purchases for your first year and 5.9%APR or 12.9%APR on balances transfers for the life of the balance.

FCU CC Table

If you're looking to avoid hidden fees and penalties, in my opinion the easiest answer truly is applying for an FCU credit card. Don't be fooled by the first promotions you use for different credit card companies, take a minute to dig deeper and I believe you'll have a hard time finding another card comparable with ours!

Click here to apply for a FCU Credit Card! 

Tiffany Houghtaling

Card Service Supervisor

Frankenmuth Credit Union

 



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