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Application Fee
Explanation:
A one-time fee charged by a financial institution when you submit an application, regardless of whether you are approved or not. However, this is a term that is applied broadly; sometimes it is used to describe fees that only get assessed to applicants who get approved, whereas other times it refers to fees charged only when applicants do not get approved.
Our Thoughts:
Most credit cards and loans do not have application fees; this term typically pertains to cards or loans that cater to people with bad credit.