Credit Card Fees NEWS

American Express now plans to increase its focus on cards that carry annual fees. The announcement was made in an investor webcast, according to reports from the Wall Street Journal MarketWatch. The company is planning to introduce new fees in order to bring in more revenue. Most conventional AmEx charge cards usually do charge an […]

Banks have come up with a surprising move; they are cutting fees on credit card usage. There has been a lot of discussion about greed and shifting cash from the big banks recently, particularly with disliked fees on debit card and the increasing savings account fees. Wall Street Journal reports that the big fee on […]

Earlier this month, new credit card regulations went into effect that requires credit card companies to be more straightforward with new card offers. The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act prohibits credit card companies from increasing the interest rate on an existing balance unless the cardholder has missed two consecutive payments and made […]

America’s big retail banks such as Wells Fargo, Chase and Bank of America may have abandoned plans to impose monthly debit card fees upon consumers, but they are busy issuing other types of fees to recoup revenue losses. Although many big banks yielded to the outpouring of customer outrage that came in response to their […]

Every time you decide to pay by a credit card for the purchase you make at a retail store, it is not just you, but also the retailer who needs to pay a small fee to the bank whose card you use. While retailers are aware of the magnitude of this problem, customers are the […]

Scott Colwell, the owner of the Certainly Cinnamon, says that it is not just the consumers, but even retailers who are bearing the brunt of the ever increasing fees on credit cards. Speaking during an interview on Thursday, he said that he pays a staggering $1000 a month towards credit cards fees. In addition to […]

There was an announcement from American Express yesterday that the foreign currency transaction fees on all international purchases on the Centurion cards and the platinum cards for US customers and small business cardholders will be eliminated. According to the vice chairman of the credit card issuer, the company aims to strengthen relationships with the card […]

Although plastic money is convenient to use and has come to the rescue of many people, it is still a cause of immense distress to many. This may not be the case only when an individual defaults on payments but the anguish could also be due to a much lesser known inconspicuous cause which is […]

Credit card customers often realize the hard way that no one is spared from the killer card fees. Until a year ago, the fees or charges levied on credit cards for various reasons contributed to a major part of the revenues of these credit card companies. It was then that the Credit CARD Act was […]

As though the confusion that already exists was not enough, there seems to be added confusion with the recent settlement with regard to “interchange fees”. The battle over the interchange fees has finally come to a close with the recent settlement. With credit cards come the various costs such as annual fees, penalties, interest rates […]