An Explanation: The Credit card has become the main method of transaction and its influence in commerce is ever-growing. The Credit card has started to come out in various types and ranges. The influence of this plastic money has come into almost all the method of transactions that can take place and the people have started to own more than one credit card. The advantage of this card is mainly due to the flexibility and reliability of its services. The credit card is of three major types namely the Platinum card, the Gold card, and the Silver card.
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These cards are arranged in order of credit limits with the platinum card having the highest credit limit and the Silver Card having the lowest credit limit. The rate of interest also varies in the same way with the Platinum Card having the lowest and the Silver card having the highest. The most important fact that people should take into account before they get a credit card is to look up the various services that the card has to offer and the rates of interest for the amount of money that has been borrowed using the Credit Card. The Credit Card Companies also levy an amount as annual fee, which is similar to the service tax. But as an introductory offer usually this amount is waived for a year. However there are some cards in market that don’t have this annual fee. These cards are known as No Fee Credit Cards.
Capital One No Fee Credit Cards: Capital One is one of the three major companies in the country of Canada that issues Credit Cards. It has various services to offer to the public like rewards program and Cash-back programs. It also features No Fee Credit Card as a part of its Low Interest Credit Cards. These Credit Cards also features an option known as the 0% balance transfer Credit Cads, which allow transfer of balances when in dire need of cash. The Capital One’s best No Fee Credit Card is the Capital One Reward Miles Master Card.
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It offers options and services like, no annual fee, a flexible interest of 13.55% + prime, and with a reward mile point for every dollar spent through this Card and no expiry date for these reward points. This Credit Card has become one off the most used cards in Canada with high number of customers having a great satisfaction index. The balance transfer is the option that is to pay off the debts incurred in a credit card which has high interest rates by transferring the debt to a lower interest credit card and then paying off the debt through that credit card. Some Credit Card companies might charge for this transfer of debts, but the Capital One Reward Miles Master Card does not. This card has a 0% balance transfer interest and is hence a true No Fee Credit Card.
Hence the people prefer the No fee Credit Cards because of the reason, why should they pay a higher amount when the same or sometimes better services are available at a lower rate of interest and without any annual charges for just owning the card.
