What Makes a Credit Card “Cheap” — And What to Look Out For
Low-fee cards can be great for budgeting, students, travellers or anyone who wants simple, predictable pricing. But “cheap” can mean many different things: low annual fee, low FX fees, low APR or minimal extras. This page breaks it down in neutral, clear language.
Explore low-fee & cashback cards on Choose.CreditcardWhat People Mean by a “Cheap” Credit Card
A credit card can be “cheap” in different ways depending on your spending habits. Some users care about no annual fee, while others focus on 0% FX fees, low interest rates, or simply avoiding unexpected charges.
Most low-fee cards are simple by design. They may not include premium perks like lounges or travel insurance, but they keep costs down — which is what many people want.
The goal of this site is to explain each cost component so you can decide what “cheap” means for your own usage.
Common Fees That Influence a Card’s Cost
Here are the main factors that determine how cheap or expensive a card really is:
- Annual fee: The simplest indicator of cheapness. Many cards offer €0 annual fee.
- FX fees: If you travel, a card with low or 0% foreign transaction fees may be the “cheapest” even if it has a small annual fee.
- Cash withdrawal fees: Some low-fee cards charge extra for ATM use, so read the fine print.
- Late fees: Even a free card becomes expensive if you miss payments.
- APR / interest: The cost of carrying a balance. If you pay in full each month, this may not matter — but for others it’s the biggest cost.
A card is only truly cheap if it matches your spending pattern. A €0 annual fee is not enough if FX or ATM fees make the card expensive to use abroad.
What You Give Up With Cheaper Cards
Cheaper cards often remove premium perks so they can keep costs low. This can include:
- No airport lounge access
- No travel insurance
- Limited rewards or no rewards
- Lower credit limits
- Fewer advanced features (virtual cards, budgeting tools, etc.)
These trade-offs aren’t necessarily bad — many users just want predictable, simple billing with minimal fees.
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