12-07-2009 04:57 PM
12-07-2009 05:06 PM
I have no issues paying annual fees but I guess that's just because I have had really good credit and really bad credit and the fastest way to rebuild sometimes costs some money!
However if credit was never the issue, I think I would be a little more selective with my fees I would pay beyond my Amex Charge
12-07-2009 05:39 PM
Would it ever be justified to pay an annual fee for an exceptionally low APR for life.NO Lets say like an AMEX platinum charge card you know how it charges $450 what if for that fee they let you carry a balance every month with no interest rate? (effectively making a Credit Card)
12-07-2009 06:11 PM
Would it ever be justified to pay an annual fee for an exceptionally low APR for life. Lets say like an AMEX platinum charge card you know how it charges $450 what if for that fee they let you carry a balance every month with no interest rate? (effectively making a Credit Card)
The cheapest credit is a PIF type of arrangement, but if you HAVE to carry a balance it certainly could be advantageous to have a fee based credit card with a low % rate rather than a fee free card with a higher APR. You just have to do the math to see which is better.
12-08-2009 11:46 AM
In the end, though, the lender computes "return on investment" as a percentage, not just a dollar amount. And the reason is there is a proportionate cost of capital. To make it fee based, they would have to limit your CL based upon your AF in order to make the numbers work.
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