Fee

[clevermanka]

Latest bank fee is for paying off credit card on time every month. (Click for article)

My Working Assets card is through Bank of America, who plans to incorporate this fee next year. So it's likely that I'll be closing that account soon. I like the safety net of having a $10,000 credit limit in case of a horrible emergency, but I refuse to pay those assholes for the privilege. I'll certainly be looking into that credit union idea mentioned in the article.

Comments

[annamatic.livejournal.com]

Wait, what?! That's effing ridiculous.

[clevermanka.livejournal.com]

Tell me about it.

[the-themiscyran.livejournal.com]

Ugh. This is what makes me long for the days when credit was something that was only used for houses and cars. The "safety net" is nice, but so not worth paying what amounts to another insurance charge.

[clevermanka.livejournal.com]

Well, we're certainly headed back to those days. At least I am!

[the-themiscyran.livejournal.com]

Totally.

[stuology.livejournal.com]

We finally got kicked in the ass by one of ours...from our regional bank! Not even one of the big-ass banks. We have great credit, no balance, pay everything off on time, and they raised our rate from 11% to 26%. Really? I won't even fuckin' use it for an emergency now. As soon as I get our reward on it in January, I'm cutting them off. And not using it again so they don't even get the fee from the retailer for us using it anymore.

Ass-hat greedy bastards.

[clevermanka.livejournal.com]

As if anyone needed more proof in the short-sightedness of greed. What bank was it, may I ask? I don't want to give them my business when I dump BoA!

[stuology.livejournal.com]

Commerce Bank. That move pissed me off enough that I want to move our checking account as well. Mac doesn't think it is worth it because we'll just end up jumping from one ass-hat greedy bank to another, but surely there is someone out there with a sense of decency (and online banking).

It is too bad because I've stuck with them so long because of the great service we get from the tellers and employees in the local branches.

It just pisses me off. I've never even bounced a check once in my life. And banks are turning around and slapping me with ridiculous fees. Thank goodness I am not carrying a balance on any credit card at all.

The only bank that has been good to me so far, although they did up their late fees and got rid of payment grace periods, is American Express. They haven't upped interest rates, minimum payments or instituted the annual fee. Yet, anyhow.

[mckitterick.livejournal.com]

I recommend using the same bank that has your home loan. Mine gives me all sorts of benefits because of having all my credit there, including a free and cash-earning credit card and an interest-bearing checking account! Talk with your banker.

[stuology.livejournal.com]

I already have that. My banker is my problem.

Commerce did have our mortgage too, but they sold it. We could switch over to Wells Fargo. My only hesitation is that there are not branches here. The closest I can get is ATM service in Kansas City. I find phone based customer service agents lacking in customer service skills. When I really need something done that involves my money, I like having a branch to walk into.

[mckitterick.livejournal.com]

I wonder if you could get a better rate right now by moving the loan elsewhere. I use USBank and recommend 'em.

[stuology.livejournal.com]

They are currently lower right now than the one we have. I'm not sure if we could refinance since I am not employed and Mac just started his job about a week ago after not being employed for over a year. We would lower our mortgage payment by a little over $90 if we could. (But if we had to pay all the fees and closing costs, it would take us awhile to see any true savings.)

I'm glad USBank hasn't tried to sneak in any new screw-the-customer policies before legislation passes. I'll take a look at them for a new checking/VISA card even if they don't have our mortgage.

[clevermanka.livejournal.com]

Good to know. Thanks for the information! Good luck figuring out where to put your money.

[mckitterick.livejournal.com]

I'm happy with my USBank card. They charge no fees and give me 1% cash back on purchases. Win-win.

'Course, that might be because I also have a house loan through them....

[slinka.livejournal.com]

That's pretty brilliant. I'm going to start charging people who don't buy my dresses.

[clevermanka.livejournal.com]

Win.

[kalimeg.livejournal.com]

I just paid off a card that had assumed an inflated interest rate. I figured it was time to stop donating money to them. Now all I have to do is pay down the other one and I will be free of them -- at last. I had planned to get there by 2000, but two times in the hospital kinda messed it up.