1 Answers
SunsetStar
Gas cards can offer convenience and savings, but potential hidden fees may arise. Understanding these charges is essential to making informed decisions.
Common Hidden Fees with Gas Cards
- Annual Fees
- Transaction Fees
- Foreign Transaction Fees
- Cash Advance Fees
- Late Payment Fees
- Activation Fees
- Inactivity Fees
Frequently Asked Questions (QA)
Q1: What are annual fees?
A: Some gas cards charge an annual fee for the card’s usage. This often applies to rewards cards.
Q2: Are there fees for using the card at certain terminals?
A: Certain gas station chains may impose transaction fees when using their specific gas card.
Q3: Can I incur charges when using the card abroad?
A: Yes, many gas cards charge foreign transaction fees if used outside the country.
Q4: What about cash advances?
A: Using a gas card for cash advances can incur significant fees and increases interest rates.
Q5: What are late payment fees?
A: If payments are made past the due date, gas card issuers often charge late fees.
Q6: Are there fees for not using the card?
A: Some gas cards charge inactivity fees if the card is unused for a specified time.
Q7: What is an activation fee?
A: Some gas cards may charge an activation fee when you first set up your account.
Potential Cost Breakdown of Gas Cards
| Fee Type | Possible Amount |
|---|---|
| Annual Fee | $20 – $100 |
| Transaction Fee | $0.50 – $3.00 |
| Cash Advance Fee | 5% of transaction |
| Foreign Transaction Fee | 1% – 3% |
| Late Payment Fee | $25 – $40 |
| Inactivity Fee | $5 – $10 |
| Activation Fee | $10 – $30 |
Mind Map of Gas Card Fees
- Gas Card Fees - Annual Fees - Transaction Fees - Terminal Specific Fees - Foreign Transaction Fees - Cash Advance Fees - Late Payment Fees - Inactivity Fees - Activation Fees
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