Question

What are the different fees that you know that credit card companies charge borrowers?

Answer 1

Credit card companies charge various fees to borrowers including annual fee, late payment fee, overlimit fee, cash advance fee, balance transfer fee, and foreign transaction fee.

Step-by-step explanation:

Credit card companies charge various fees to borrowers. Here are some of the different fees:

1. Annual fee: Some credit cards charge an annual fee for the privilege of using the card.
2. Late payment fee: This fee is charged if you don't make your payment by the due date.
3. Overlimit fee: If you exceed your credit limit, you may be charged an overlimit fee.
4. Cash advance fee: If you use your credit card to get cash, you may be charged a cash advance fee.
5. Balance transfer fee: When you transfer a balance from one credit card to another, you may be charged a fee for the transfer.
6. Foreign transaction fee: Some credit cards charge a fee for transactions made in foreign currencies.