Credit card companies going crazy! WTF?!

[tomato]

" This is a side effect of the pending changes the Credit Card Accountability, Responsibility and Disclosure Act will impose. After February 22, it'll be harder to introduce or enforce credit card rates and fees that are unfair to the consumer -- so banks are acting now. Among some of the things they're doing:

- Introducing annual fees for customers who don't meet a specific limit for charges on the card. (For example, if you don't charge at least $2400 on a credit card annually, you could be charged a $90 annual fee.)

- Boosting minimum payments and interest rates. (Although some have had to stop following public outcry.)

- Converting fixed-interest rates to variable interest rates.

- Levying extra fees on card holders who pay off their balance every month ..

Yeah, you read that last one right: next year, Bank of America is going to start charging people who pay off their balance on time."

Read more: http://www.sfgate.com/cgi-bin/blogs/...#ixzz0V4vqxSRO


What a bunch of ...holes!!!