Posted by aesthete8 on October 20, 2009, 8:12 pm
Am I the only one who thinks that this is a rip off?
Isn't a society going downhill when if forces its citizens to pay to
be good?:
http://www.usatoday.com/money/perfi/columnist/block/2009-10-19-bank-of-america-card-fee_N.htm?se=yahoorefer
Posted by Clincher on October 20, 2009, 8:32 pm
> Am I the only one who thinks that this is a rip off?
> Isn't a society going downhill when if forces its citizens to pay to
> be good?:
Another fine consequence of the CARD Act and its zeal to protect
irresponsible card users from the consequences of their actions.
Used to be the reason for monitoring my cc account was for fraud. Now it's
just as much to assure myself that I still *have* an account. Thankfully,
there are relatively few situations where I have to use a credit card but
still, thanks for nothing, Obama. Me and my credit card issuer were getting
alone fine for 20 years without your help (yes, banks are greedy. Big deal,
so am I.) Now I'll be lucky if I'm not paying an annual fee next year to
subsidize the deadbeats.
Posted by Shawn Hirn on October 20, 2009, 11:06 pm
> > Am I the only one who thinks that this is a rip off?
> >
> > Isn't a society going downhill when if forces its citizens to pay to
> > be good?:
>
> Another fine consequence of the CARD Act and its zeal to protect
> irresponsible card users from the consequences of their actions.
How so? This is old news. Banks have been charging an annual fee for
certain credit cards for years. For example, I have a USAirways frequent
flyer card that charges $90 per year, but I get my money's worth out of
it. I went to Europe last summer for a fraction of what I would have
otherwise had to pay.
> Used to be the reason for monitoring my cc account was for fraud. Now it's
> just as much to assure myself that I still *have* an account. Thankfully,
> there are relatively few situations where I have to use a credit card but
> still, thanks for nothing, Obama. Me and my credit card issuer were getting
> alone fine for 20 years without your help (yes, banks are greedy. Big deal,
> so am I.) Now I'll be lucky if I'm not paying an annual fee next year to
> subsidize the deadbeats.
You have no clue what you are talking about. This tactic has been going
on for years, long before Obama became president.
Posted by tmclone on October 21, 2009, 12:24 am
Now I'll be lucky if I'm not paying an annual fee next year to
> subsidize the deadbeats.
You do realize that "deadbeats" is the term used by the credit card
issuers for those of us who pay the balance in full every month and
thereby never incur an interest fee, right?
Posted by bartc on October 21, 2009, 7:50 am
tmclone wrote:
> Now I'll be lucky if I'm not paying an annual fee next year to
>> subsidize the deadbeats.
> You do realize that "deadbeats" is the term used by the credit card
> issuers for those of us who pay the balance in full every month and
> thereby never incur an interest fee, right?
This is the interest fee, on top of the fee that the credit card company
already charges retailers?
And which when it is paid, is at an extortionate figure like 20% at time
when the interest banks pay to savers is virtually 0% (in the UK anyway).
And often accompanied by late payment charges which can push the effective
rate to 100% or more.
Sounds like the credit card companies want to have their cake and eat it...
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> Isn't a society going downhill when if forces its citizens to pay to
> be good?: