> http://www.bankrate.com/brm/news/cc/credit-card-update.asp
> This morning, the above credit-card blog raised an alarm that BofA
> was about to start charging a monthly $1.50 fee to those "deadbeats"
> that pay their balance in full every month. Now the story's been updated
> and it seems this was a false alarm but there's still understandable
> lingering
> concern that this might portent a new business practice of the cc industry.
> Well I'm not thrilled at that prospect either but what I find amusing is
> that
> these columnists are actually acting indignant about it. Now that major
> banks
> have been pressured into ending "unfair" practices like universal default,
> the same people who've been egging on these SBC hearings in cc practices
> are now acting shocked, *shocked*, that these FOR-PROFIT firms would
> actually *think* about collecting the money from someone else. And if you
> can't
> get it from your irresponsible cardholders without being harrassed by the
> government, hell let's soak the responsible ones. Perhaps you guys should
> have kept your mouth shut while you (we) "deadbeats" had it good with
> our perpetual 0% financing.
The cc companies make plenty of cash from the merchant fees every time
you use the card.
Adding a fee for carrying no balance is just another way they've
dreamed up to make more bucks. The industry has been extremely
successful, to the point that nearly everyone has at least one card
just to live a normal life, and now that we are hooked they are just
piling on. Can't blame 'em, but I'll have to figure a way around it.
IT isn't deadbeat to pay your bills at the earliest opportunity. With
cc accounts, it's dangerous not to pay off every month.
XML site map
> This morning, the above credit-card blog raised an alarm that BofA
> was about to start charging a monthly $1.50 fee to those "deadbeats"
> that pay their balance in full every month. Now the story's been updated
> and it seems this was a false alarm but there's still understandable
> lingering
> concern that this might portent a new business practice of the cc industry.
> Well I'm not thrilled at that prospect either but what I find amusing is
> that
> these columnists are actually acting indignant about it. Now that major
> banks
> have been pressured into ending "unfair" practices like universal default,
> the same people who've been egging on these SBC hearings in cc practices
> are now acting shocked, *shocked*, that these FOR-PROFIT firms would
> actually *think* about collecting the money from someone else. And if you
> can't
> get it from your irresponsible cardholders without being harrassed by the
> government, hell let's soak the responsible ones. Perhaps you guys should
> have kept your mouth shut while you (we) "deadbeats" had it good with
> our perpetual 0% financing.