Bank of America has announced that it plans on “testing” annual fees on some of its reward cards starting next year. The odds are good you won’t see this—a BoA spokeswoman says it will only be tested on 1 percent of accounts globally—but who knows? Maybe the BoA Fairy will smack you down.
The Bank of America accounts that will be charged fees were selected based on “risk and profitability,” Riess said. That means customers in good standing who never carried a balance – and never incurred interest charges or late fees – could be among those getting notices.