USATODAY reports that Bank of America and Citigroup plan to impose new fees on their credit card customers starting in 2010.
Citigroup has already started charging an annual fee to those customers who do not charge at least a certain amount, around $2,400 on their cards annually. Bank of America is said to start charging a fee ranging from $29 to $99 for those customers who pay off their balance every month avoiding interest payments.
To me this is one more reason to NOT use a credit card. For those who insist you must have at least one to maintain a good FICO score, I challenge that by reminding you it is possible to maintain a high credit score using other means and never need to pay the credit card company another dime.
Citigroup has already started charging an annual fee to those customers who do not charge at least a certain amount, around $2,400 on their cards annually. Bank of America is said to start charging a fee ranging from $29 to $99 for those customers who pay off their balance every month avoiding interest payments.
To me this is one more reason to NOT use a credit card. For those who insist you must have at least one to maintain a good FICO score, I challenge that by reminding you it is possible to maintain a high credit score using other means and never need to pay the credit card company another dime.
See the USATODAY article here
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