Credit Card Fees NEWS

Bank of America in the spotlight, courtesy hike in fees

[Friday, May 20th, 2011]

Bank of America has now come under the spotlight after announcing the new penalty that will be levied on card holders a couple of months down the line. Based in North Carolina, this bank said that penalty rate which amounts to 29.99% of the future purchases will be levied on bank holders once their accounts [...]

Rising card fees, a concern for merchants

[Wednesday, February 9th, 2011]

Card companies and merchants are at loggerheads over increasing card fees. Retailers feel empowered due to the action taken by the Competition Bureau legally against MasterCard and Visa card fees that merchants are being charged. Merchants want consumers to rethink the decision to pay with cards and are urging the Fed Government to take action [...]

Gift credit cards truly a gift to consumers

[Tuesday, January 11th, 2011]

It is the holiday season again, and during this time, gift cards totaling about $87 billion are expected to change hands. There is good news to the industry. The most recent changes brought about by the federal government in the US ensure you are well protected from hidden charges on these cards, thus making this [...]

There is no escaping the killer fees on cards

[Tuesday, November 23rd, 2010]

There was a time, when not so long ago banks thrived on the fee they charged their clients and were thriving on that. But ever since the card act was passed things became much more difficult for banks and they had to find ways and means to churn out profits. The credit card act literally [...]

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