Friday, March 27, 2009

Credit Card Fees GOING UP

Lots of changes and NONE are favorable to the consumers.

"Chase increased the minimum payment from 2 percent to 5 percent for cardholders with large balances."

The 6 biggie Credit Card Issuers...-- Bank of America, Chase, Citi, American Express, Capital One and Discover. These banks are racking it in, with extra fees. In some cases, they are making MORE money off the fees they collect (such as over the credit limit, late payment fees, etc.), than on the basic monthly payment they collect from you. I'm glad I got rid of my credit cards. I consider some of these credit card companies, BULLIES. They smile at you when they issue the card, and then growl at you thereafter. lmao!!!


Don said...

I’m glad I still have my 2 credit cards. I don’t have to carry cash and by using my Discover Card I get cash back every year. The secret of using credit cards is to never carry a balance. Just live within your means and pay off the balance due every month.

Deb Murphree/Alabama Politics said...

Hey Don, you are right. It's good to have credit cards when you need them. When I use my Paypal, I earn money back. (However, it's a debit and not credit). I don't remember receiving money back for using my credit cards in the past. I know my dad enjoys using his, and he always pays off his balance at the end of the month. It's like a lifeline to him at times. Hope you are well!