Credit Card Glossary
Annual Fee
An annual fee is a yearly charge that you have to pay for the privilege of doing business with the credit card company. The amounts vary considerably from card to card. Some cards have no fees at all but usually this type of card has less perks to it in general or a higher interest rate.
The amount of fee that you have to pay for your card is often dependent on the color of your card with gold cards being more costly then regular cards and platinum cards being more costly than gold cards.
However sometimes if you are good customer you don’t have to pay an annual fee at all. Only about twenty percent of bank credit cards come with an annual fee.