Some Tips for Getting a Fee-Free Credit Card

By: Bonnie Conrad

Credit cards are expensive enough without lumping an annual fee on top of them. If your current credit card carries a hefty annual fee, chances are good that you can find a similar card that does not have that extra financial burden. While many credit cards do come with steep annual fees, there are many free-free alternatives out there as well. The key to getting one of those free cards is to do your homework and research those free options.

Know Where You Stand

Obtain a free copy of your credit report from a reputable source like AnnualCreditReport.com. Watch out for scam sites that promise a free copy of your credit report but then sign you up for expensive credit monitoring and other services.

Review your credit report carefully and take note of any errors. Follow the instructions provided by the credit bureau to dispute any inaccurate or outdated information on your credit report. For best results, check your credit report with all three major credit reporting agencies—Equifax, TransUnion and Experian. You are entitled to a free copy of all three reports once a year.

Check the Cards Your Currently Own

Review the terms and conditions of your current credit card to determine whether or not you are paying an annual fee. Information and disclosures about the card and its fees are typically included in your monthly statement, and in mailings you receive from the card issuer.

Look for a Better Deal

Call the bank that issued your current credit card if you have one. Ask the representative who answers the phone if they can offer you a card with no annual fee. Most banks offer more than one credit card product, and they may be able to move you to a fee-free card. For instance, many airline-affiliated credit cards charge an annual fee, but those same card issuers sometimes offer a fee-free alternative that still allows you to earn airline miles.

Watch your mail for credit card offers. Open each offer you receive and turn to the terms and conditions section. Look at the annual fee section and be sure the card is fee-free before applying.

Contact several credit unions in your area. Credit unions are owned by their members, and they often offer better deals on their consumer products, including fee-free credit cards.

Low interest credit card for balance transfers

The interest rates charged on credit and store cards can vary widely. That applies not only to the headline rate ? the interest rate that appears as a ?typical? rate in advertising and marketing literature ? but also to individual customers; according to their personal credit rating.

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The best way to improve your credit score is to know the factors involved which largely affect and influence your score..

What Steps are Required to Fix Your Credit Score?

The first step in fixing your credit score is knowing your credit score. If you are trying to take out a loan for a new car, you don't want to find out at that time that your score is too low. Then it is too late. You will have to accept a loan with poor terms or walk away without your new car. If you know your score, you are forewarned and forearmed.