My wife called me yesterday and said they had a segment on the Today show regarding fees banks, etc., will start charging for CC users. The "surprising" aspect is that it's really targeting those people who use CC's frugally. For instance:
* If you pay your CC balance in full each month don't be surprised if your CC issuer starts charging you a fee of between $29-$99. They aren't making any money off of these people, so they "have" to start charging a fee to make money.
* Even if you carry a balance each month CC issuers may impose a fee on you for not carrying a large enough balance of between $29-$99.
* If you don't use your card at all then expect the CC issuer to start charging you an "Inactivity" fee.
It's no surprise that "Bank of America" was one of the issuers mentioned who will start charging these fees.
Link: TODAYshow.com: Matt Lauer, Meredith Vieira, Ann Curry, Al Roker, Natalie Morales - Video, News, Recipes, Health, Pets - Click on "Most Popular Videos". Scroll down to the video "Companis to Impose New Credit Card Fees" (about halfway down).
* If you pay your CC balance in full each month don't be surprised if your CC issuer starts charging you a fee of between $29-$99. They aren't making any money off of these people, so they "have" to start charging a fee to make money.
* Even if you carry a balance each month CC issuers may impose a fee on you for not carrying a large enough balance of between $29-$99.
* If you don't use your card at all then expect the CC issuer to start charging you an "Inactivity" fee.
It's no surprise that "Bank of America" was one of the issuers mentioned who will start charging these fees.
Link: TODAYshow.com: Matt Lauer, Meredith Vieira, Ann Curry, Al Roker, Natalie Morales - Video, News, Recipes, Health, Pets - Click on "Most Popular Videos". Scroll down to the video "Companis to Impose New Credit Card Fees" (about halfway down).
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