tag:blogger.com,1999:blog-874719064634626617.post3684457881796819992..comments2023-08-03T11:14:39.792-04:00Comments on Keith Reed's Money Corner: Avoid credit cards with ridiculous feesKeith T. Reedhttp://www.blogger.com/profile/11096646974898360459noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-874719064634626617.post-73866902384679681592008-11-17T19:54:00.000-05:002008-11-17T19:54:00.000-05:00The worst are store cards. If you call them and a...The worst are store cards. If you call them and ask them to lower the interest rate, they won't.<BR/><BR/>I'm very good at avoiding cards that have high interest rates, annual fees and all that other crap.<BR/><BR/>I told my Mom for her high interest credit cards to call the companies. She has been paying on time, more than the minimum for years so her interest rates should not be so high. I seriously think in her situation it's going to take me sitting her down with her credit cards and the telephone and making her call every single one. I told her it's worth it, all they can say is NO and with her credit record and credit score, they should and probably will say yes.<BR/><BR/>But it just illustrates that too many people are afraid of their credit card companies when as the consumer we are the ones that really have the power, not them. Because as Keith noted, we can close the account and get another card with someone else, than they would lose out on the business.Mia6998https://www.blogger.com/profile/00535476830499181356noreply@blogger.comtag:blogger.com,1999:blog-874719064634626617.post-50179757197714655312008-11-17T15:13:00.000-05:002008-11-17T15:13:00.000-05:00You're right, Lolly, that it is different with a "...You're right, Lolly, that it is different with a "charge" card like an Amex as opposed to a credit card. The cases I wrote about though, were credit and not charge cards. <BR/><BR/>Charge cards DO, to my understanding, come with monthly interest, but that's more of a penalty for not following the rules and paying off your balance every month and that's why you have to be careful with them. The point of a charge card is to carry and use it in lieu of cash but only for things you have the money to pay off immediately. Balances aren't meant to be carried, in which case the interest rate wouldn't matter.Keith T. Reedhttps://www.blogger.com/profile/11096646974898360459noreply@blogger.comtag:blogger.com,1999:blog-874719064634626617.post-60295309814536844342008-11-17T15:07:00.000-05:002008-11-17T15:07:00.000-05:00Keith, you say you should shy away from credit car...Keith, you say you should shy away from credit cards with an annual fee. Do you think it's different for a charge card? For example, American Express "charge" cards, come with an annual fee, but no monthly interest, from what I understand. Is that a better option?lolly lynettehttps://www.blogger.com/profile/14992588565157278038noreply@blogger.com