CREDIT CARD ISSUERS DROPPING FEES
The upcoming Senate hearings on unfair credit card billing practices are already having an impact. Some credit card issuers are starting to eliminate some of the fees and policies that have been widely criticized by the financial media and consumer groups. Citibank for instance recently decided to drop their practice of raising interest rates for customers who pay Citi on time but are late to other creditors. You can read more details here. I’m going to be watching the upcoming hearings carefully in the hope that ridiculous fees and outrageous late charges get outlawed. The credit card industry is clearly in need of some policing, because these aggressive fees and random interest rate hikes while not illegal are just not fair to consumers.
Credit Card Fees, Credit Cards, Personal FinanceLink to Post |
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