Fee Roundup Survey Interview with Bloomberg Radio
CreditCards.com Senior Industry Analyst Matt Schulz spoke on Thursday, July 16, 2015, with Michael McKee of Bloomberg Radio about the July 2015 Fee Roundup survey. The interview and transcript are below.
Michael McKee: Now credit cards are not all created equal when it comes to interest rates or additional fees. A survey of 100 cards by CreditCards.com finds two main categories of fees: penalty fees, which are easy to avoid by paying bills on time, and transactional fees, which kick in every time you use a credit card in a certain way like when you’re traveling overseas. Now the Pentagon Federal Credit Union Promise Visa card is the only one charging no fees at all. The average card piles on six different fees.