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Annual Fee
Explanation:
A number of financial products - including credit cards, prepaid cards and HELOCs - may charge membership fees that are assessed upon account opening and every 12 months after that until you close your account. These Annual Fees are often referred to as Annual Membership Fees (AMF).
Our Thoughts:
Don't automatically rule out financial products that have annual fees; they may have better rewards and lower interest rates, in which case the annual fee could pay for itself and then some.