Wednesday, October 21, 2009

New Bank Fees

This morning I heard on the radio that there are going to be some new bank fees coming out next year. Are you ready for this? The new bank fees are for paying off your credit card balance in full every month. I was floored. Speechless. I just googled it and I found it on USA Today (which some people might think is a lame source --- but a confirmation none the less). I can not express in words how mad this makes me.

Apparently, Bank of America is going to start charging their customers somewhere between $29-$99 a month if you pay your credit card bill in full every month. And CitiGroup (who I have always heard should be avoided like the plague) is going to take it a step further and is supposedly requiring that you put a minimum amount on your credit card (either on a monthly basis or yearly basis -- I can't remember) AND slap you with a fee if you pay it in full. With as many laws and regulations we have in this amazing country, how is this not illegal?

So, let me get this right. I'm going to get charged for paying my bills? This is the most absurd thing I have ever heard in my life. If this is the truth ---Bank of America and CitiGroup --- you're stupid.

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