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How to Reduce Credit Card Fees

Rates for business credit cards are still high. Here are ways to knock them down.

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This story appears in the November 2010 issue of Entrepreneur. Subscribe »

reform this year didn't apply to . According to a recent study from financial search engine BillShrink.com, will be hit with an estimated $420 million more in charges in 2010 than they were in the previous year--and card issuers have raised interest rates to more than 15 percent in many cases, and as much as 27 percent in others.

More than a quarter of small-business owners carry an average monthly balance of $14,572 on their cards, the study estimates. So increased charges can really hit home, says Beverly Blair Harzog, spokeswoman for credit card rating site CardRatings.com. But business owners can mitigate the cost:

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