Are Credit Card Fees Out of Control?
Monday, June 22nd, 2009We all know that borrowing money does not happen for free. In fact many consumers are so accustomed to additional “fees” that they barely blink an eye when paying them as long as they continue to have access to financing. Credit card companies know this and for years have been profiting billions of dollars off of those fees that appear on your monthly statement. It should come as no surprise then to so what is currently happening within the credit card community. As banks rush to lessen the hit from rising defaults, more and more fees are showing up on consumer statements. The problem is many consumers are no longer able to afford these fees and paying them is much less enjoyable when you have maxed out your credit which is the case for millions of Americans.
