Ranking the “Most Hated” Consumer Fees

What's Hot

Do This or Your iPhone Bill May SkyrocketSave

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

11 Places in the World Where You Can Afford to Retire in StyleMore

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

32 of the Highest-Paid American SpeakersMake

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

9 Tips to Ensure You’ll Have Enough to RetireFamily

30 Awesome Things to Do in RetirementCollege

5 Spots Where Retirees Can Live for Less Than $40,000Real Estate

10 Ways to Reduce Your Homeowner’s Insurance RatesFamily

10 Ways to Pull Together the Down Payment for a HomeCredit & Debt

Chew on This: The Story Behind Your Hershey’s Halloween TreatsBusiness

It's often said America is the home of the fee. Here are five of the worst... Is your most hated fee on it?

It’s no secret that consumers view fees with the same disdain that a Celtics fan feels for Kobe Bryant.

But like Kobe to the Celtics, consumer fees are a hard reality in life, whether it’s a fee triggered by a late credit card payment or one that comes from getting your driver’s license renewed.

But what are the worst offenders, fee-wise? Money Magazine is out with a list of the absolute worst consumer fees. What’s on the list might surprise you.

Here’s a look at their top five worst offenders.

  1. Charged for not charging – Credit card companies are ramping up fees for consumers who own a card, but who aren’t using it. Citibank charges some cardholders $60 if they charge less than $2,400 per year.
  2. Home equity loan fees – If you pay down a home equity loan (HELOC) early, congratulations. But your lender won’t like it – you’re apt to pay anywhere from $250 to $750 to pay down a HELOC early.
  3. Bank transfer fees – More and more bank customers are linking their savings accounts to their checking accounts. That can protect bank consumers from onerous overdraft fees, which can soar as high as $36 per overdraft. But some banks charge you $20 or $30 for these transfers – something that costs the bank virtually nothing.
  4. Frequent-flier miles – As Money puts it, can you really call it rewards travel when you have to pay for the reward? Apparently so. US Airways and Americans, for instance, can charge you $50 to redeem your frequent flier miles.
  5. Annuity fees – Annuity investors often complain about unknown fees. Insurance companies call them “expenses” – but according to Money, that’s just corporate-speak for hidden fees of up to 3% of your annuity’s value.

Those are just the top-five of the most blood-pressure raising fees. For the entire list, see this article at CNN/Money.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 7 Ways to Save More at Big Lots

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,724 more deals!