Is it normal that a bank will charge the annual fee on a new credit card on the very first month after issueing the card? I always thought the fee was charged on the anniversary of the issued card.. :(
Credit Card Annual Fee
bimmeup on 13/11/2018 - 07:26
Comments
Yes
Yes it's normal.
CBA charge on the 12 month anniversary so yeah, some banks do it.
Are you sure? I signed up because of this https://www.ozbargain.com.au/node/305021
And still got charged the annual fee shortly after sign up (but I successfully got it waived).
Ive always had "spend XXX amount per year and we will waive the fee" type cards.
Maybe with these they hold the fee off to give you the year to spend the money?
This is normal practice. That is your annual fee for the first year.
Yes, it's typically charged after this first transaction.
Thanks for your replies.. no need for me to call and blast them then :))
Yes, it is normal. Beware of your credit card limit, can affect you negatively if you are planning to apply for a loan in the future.
Yeah, i dont intend on buying another property anytime soon, but having said that, i dont intend having a total credit limit of more than $9K across two cards. I was considering getting the Amex Platinum Edge next month, but with the new changes stupidly brought about by Amex, I'm seriously having second thoughts.
$9K across two cards is fine, but keep your repayments up to date. Don't go much deeper with credit cards, that's gonna affect negatively on your credit history in the future.
Usually its the first transaction billed to the card unless waived for the first year.
All above board.
So now i have the ANZ travel Adventures Visa (Got the 80K bonus points), my plan was to also get the Amex platinum Edge but now with the decrease in value of the Amex points Im starting to wonder if its still worth it :(
No, get the Amex explorer as first Amex, get at least 75k Airline miles, or 100k miles if you also apply for a Platinum Edge and link the Explorer to Ascent program, but you get hit with two credit checks.
Unless it says first year's fee free, I don't see why the bank would charge the fee on the anniversary of the issued card … In other words, yes it's normal