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Board of Governors of the Federal Reserve System Credit Card Basics


Many credit cards have fees. You will want to read your credit card agreement carefully to make sure you understand all the fees associated with your card. You can use the Federal Reserve's consumer credit card agreements search to find general examples of the type and range of fees a credit card may have. Here are some common fee terms to look for:

Did you know?

Federal law limits the total fees charged during the first year after you open an account to 25% of the initial credit limit. For more information on your credit rights and protections, visit Credit Protection Laws or read our guide to the new credit card rules.

Your credit card may also offer insurance or debt coverage, often with an associated fee. You should read your agreement carefully to make sure you understand the services offered and any fees.

Common services that may have fees include:

Last Update Date: June 15, 2010
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