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Bank Of America, Citigroup First To Try Out Idea, Which Will Undoubtedly Alienate Many Who Follow The Rules
Loraine Mullen-Kress carries a Bank of America credit card and religiously pays off her balance. Yet now, her good credit habits could cost her. Earlier this month Bank of America started notifying customers like Mullen-Kress that they will be charged a new annual fee of $29 to $99. Cardholders who get a new annual fee notice in the mail will be in a no-win situation.
Originally posted by kardenal
If you pay off your balance every month, how in the world are they supposed to make any money off of you?
Originally posted by LadySkadi
Either the customers will not leave and the bank gets to collect fees, or the customers will leave at no loss to the bank...