
Categories
Blog Archives
Beware of new credit card fees
July 6th, 2009 - Posted by Caitlin
An article in today's Wall Street Journal warns consumers to beware of unexpected credit card fees. In the current economic climate, it's no surprise that banks and credit card companies are looking for any excuse to earn an extra few dollars here and there. A CEO of a bank-card advisory firm is quoted saying, "The fee income is becoming increasingly more important as interest income is falling as a percent of total revenues." Late fees, loan origination, over-the-limit, and overdraft charges are becoming more essential sources of income for the banking industry.
So now, more than ever, it's crucial to read your credit card terms carefully and check your statements. Most fees are avoidable, so long as you're attentive to rules and deadlines and practice fiscal responsibility. And when opening a new checking account or applying for a credit card, take the various fees into account when deciding which one is right for you.
To learn more about credit cards and compare terms and rewards, see our reviews and comparison charts.
Leave a Reply
Copyright© 2006 - 2012 NextAdvisor.com - All rights reserved.
Disclosure: NextAdvisor.com is a consumer information site that offers free, independent reviews and ratings of online services. We receive advertising revenue from most of the services we review. Our editors thoroughly research and whenever possible test each service we review and offer their honest opinions about each one. We are independently owned and operated and all opinions expressed on this site are our own.








