Qualifying for a credit card can be tough if past financial missteps have hurt your credit score, but it’s not impossible. Certain issuers offer credit cards for those with less-than-perfect credit scores looking to rebuild their credit, including Concora. Concora, founded in 2001, offers three consumer credit cards and one business card. Its cards have more lenient credit score requirements than others on the market, but — along with other drawbacks — Concora credit cards are expensive to carry. Here’s ...

Core Insights - Many Americans are seeking to reduce expenses, particularly credit card fees, which can accumulate significantly over time [1][2] - The Consumer Financial Protection Bureau (CFPB) reported that Americans paid approximately $120 billion annually in credit card interest and fees from 2018 to 2020, averaging $1,000 per household each year [2] Credit Card Fees Overview - **Annual Fees**: Average annual fee was $94 in 2020, with some cards charging fees in the hundreds, often correlating with the value of rewards offered [3][4] - **Balance Transfer Fees**: Typically range from 3% to 5% of the transferred balance, with some cards offering long introductory 0% APR periods [10][11] - **Late Fees**: Can be up to $41 for missed payments, though some cards do not charge late fees [14] - **Interest Fees**: Charged if the balance is not paid in full by the due date, with rates varying based on the card's APR [15] - **Foreign Transaction Fees**: Average fees range from 1% to 3% for purchases made outside the U.S. [16] - **Cash Advance Fees**: Typically range from 3% to 5%, with higher interest rates and no grace period for these transactions [18][19] - **Returned Payment Fees**: Can be up to $40 if there are insufficient funds for payment [20] Strategies to Avoid Fees - **Pay Balance in Full**: To avoid interest and late fees, consumers should only spend what they can afford to pay off each month [27] - **Review Terms and Conditions**: Understanding the credit card agreement can help consumers anticipate fees and adjust spending habits accordingly [28][29] - **Choose No Foreign Transaction Fee Cards**: Many travel credit cards do not charge foreign transaction fees, which can save money for frequent travelers [30][31] - **Evaluate Annual Fees**: Consumers should assess whether the benefits of a card with an annual fee outweigh the costs based on their spending habits [32][34] - **Set Up Automatic Payments and Alerts**: This can help avoid late fees and keep track of spending [35] - **Negotiate with Issuers**: Consumers can reach out to their credit card issuer to negotiate fees or seek assistance with mistakes [37]