Bank of America is planning to run an experimental run of credit card fees for card holders that practice frugal spending, and pay off their cards in full every month. On the USA today web site they have a full article on this development.
Experts claim that new bills passed in Congress have made this reaction from BOA all too predictable. This is where these big banks are when it comes to common sense and fairness. I can see why BOA wants to run this new credit card fee as an “experiment” – because they don’t know how “consumers” are going to react. I don’t like the use of the world consumers, and prefer to use the word people.
Well I have news for Bank of America – their “experiment” is going to come back and bite them in the ass! Why? – Because people that have great credit ratings and much bigger money train coming in than the money train going out, are going to LEAVE you all together, and get a credit card with the banks that DON’T penalize them for good behavior and prudent financial decisions.
For instance, on a personal note, our family pays all of it’s bills the moment they show up in the mailbox, and we pay off all credit card balances BEFORE the month is over. We won’t put up with these kinds of fees, and will take action immediately to remove you from the list of financial institutions we do business with.
The Greed of Credit Card Merchants
Credit card companies that play these kinds of fee games and penalty games with customers that have good money coming in and make allot of it ALL the time, are making a huge mistake. We (this includes our family) will not put up with their greed.
The good old days when credit card holders didn’t have many choices is over. We can switch at any time to use some other bank’s credit card when we are being taken advantage of the credit card issuing bank we are currently using.
It’s not enough that the credit card companies charge the merchants a buck and half (or so) every time a transaction takes place – they need to make money because you are good with your money and doing every thing right.
The greed of the banks and credit card companies is NOT a surprise to ANYONE these days, and I suggest we take some action against these greedy credit card companies now.
Boycott All Bank of America’s Credit Cards
I will be returning ALL of my Bank of America credit cards ASAP. All of my family members will be cutting their Bank of America credit cards in half with a pair of scissors as well. And we’re going one step further….
We are removing ALL funds from BOA, including some savings, our mortgage and our car(s) loan products. Our family is making a clean sweep of anything to do with Bank of America, and we encourage all readers reading this to do the same thing. Let’s punish these lending institutions for their greed.
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