Re: Credit Cards: How many are in YOUR wallet?
Quote:
Originally Posted by jaani
Ok, I'm a little slow on this, but to get benefits don't you pay a initial fee or something? Meaning, don't you have to pay a fee to get those benefits started? 
Can someone explain please? 
~j |
To get the miles/gift certificates/electronics/etc most cards have an annual fee (some have no fee) that you pay and then for every $1 you spend you earn 1 mile. Some cards are more competitive and they offer 3 miles for every $1 you spend. For example, my Bank of America credit card charges a $19 annual fee and gives me 1 mile for every $1 I spend. My Chase credit card on the other hand doesn't charge me an annual fee and I get 3 miles for every $1 I spend. Basically the fees vary from company to company but the same idea applies.
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