Do You Need to Pay Credit Card Fees Even If You're Not Using It?
Learn if you need to pay credit card fees when not using your card. Understand annual fees and maintaining your credit score.
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If you don't use your credit card, you should still consider paying any annual fees or maintenance charges to avoid penalties. Check your credit card's terms and conditions to understand any fees that may apply even when the card is not in use. It's also advisable to maintain occasional activity on the card to keep your account active and maintain a healthy credit score.
FAQs & Answers
- What happens if I don't use my credit card? If you don't use your credit card, you may still incur annual fees or maintenance charges, which you need to pay to avoid penalties and keep your account in good standing.
- Do I need to pay a fee for an inactive credit card? Yes, many credit cards have annual fees that are charged regardless of whether you use the card or not. Review your card's terms to understand the fees involved.
- Will not using my credit card affect my credit score? Yes, not using your credit card can impact your credit score. It’s beneficial to maintain activity on the card to keep your credit utilization ratio healthy and improve your credit history.
- Can I keep my credit card open without using it? Yes, you can keep your credit card open without using it, but be mindful of any fees. It’s often advisable to make occasional small purchases to keep the account active.