Is Bank Of America Of Trying To Skirt The CARD Act With New Annual Fees?

Is Bank Of America Of Trying To Skirt The CARD Act With New Annual Fees?

In a series of recent posts, WalletBlog has accused Bank of America of breaking the spirit of its “no new fees” promise and of potentially breaking the law next year, after it announced it will introduce annual fees on some existing credit card accounts in 2010.

Citibank To Charge Fees On Checking Accounts

Citibank To Charge Fees On Checking Accounts

If you’re a Citibank customer who has one of the bank’s two smaller checking account plans—the ones where the monthly fee is waived as long as you use direct deposit or their online bill payment—then maybe it’s time to consider taking your business elsewhere. Starting in February, anyone with an average balance of less than $1500 will be assessed a monthly $7.50 service fee, reports the New York Post.

Expedia Drops Fee For Booking By Phone

Expedia Drops Fee For Booking By Phone

This morning, travel service Expedia announced it will abandon its book by phone fee, which it first implemented last May. This makes it the only major online travel agency to not ding customers with a fee for booking flights over the phone, notes consumer travel advocate Christopher Elliott.

Verizon Wireless To Hike ETFs On "Advanced" Devices

Verizon Wireless To Hike ETFs On "Advanced" Devices

Are you looking to get a smartphone on the Verizon network anytime soon? Make sure that you like it before you sign a contract, since starting November 15th, Verizon will be imposing a higher early termination fee—up to $350—on contracts for “advanced” devices. That means smartphones.

Update: Capital One: Waive Your Rights, Get $10 Off Your Next Overlimit Fee!

Update: Capital One: Waive Your Rights, Get $10 Off Your Next Overlimit Fee!

Here’s the straight scoop on what’s up with the story in that “Capital One: Waive Your Rights, Get $10 Off Your Next Overlimit Fee!” post.

Hilton Complimentary Internet Access In Lobby Costs $10 A Day

Hilton Complimentary Internet Access In Lobby Costs $10 A Day

At Hilton Washington Dulles Airport hotel, everything is complimentary! That’s because to them “complimentary” actually means “for a price.” Last week, a linguistics professor tried to take advantage of their “Complimentary High-speed Internet access on the lobby level,” which is how they describe the service on their website. He quickly discovered that he’d have to agree to a $9.99 charge in order to get the free service.

Capital One: Waive Your Rights, Get $10 Off Your Next Overlimit Fee!

Capital One: Waive Your Rights, Get $10 Off Your Next Overlimit Fee!

Everett says Capital One called him up and made him an offer. If he opted out of at least one of the consumer credit protections enacted by the CARD act, Capital One would drop the overlimit fees from $39 to $29! Woo!

Airlines Could Start Charging Extra For Credit Cards

Airlines Could Start Charging Extra For Credit Cards

Could extra fees for using a credit card to pay become the airline industry’s hot new trend?

Wachovia's "Way2Save" Account Triggers Over $5,000 In Penalty Fees

Wachovia's "Way2Save" Account Triggers Over $5,000 In Penalty Fees

Wachovia has a new financial product called Way2Save that automatically moves $1 from your checking account into a high interest personal savings account every time you make an electronic bill payment. Susan tried to maximize her contributions by making a lot of little bill payments, but Wachovia cut off access to her funds without notice and triggered an avalanche of penalty fees. Now she owes over $5,000 to her credit card companies, far more than she would likely have ever earned through Wachovia’s complicated savings program, and of course Wachovia is denying any responsibility.

No Visa Or MasterCard Gift Cards This Year, Please

No Visa Or MasterCard Gift Cards This Year, Please

If you want to spread some fiscally sound good cheer this year, consider asking your friends, relatives, and coworkers not to give gift cards backed by the major credit card companies. Why am I making such a sour suggestion? Because a new study from two consumer advocacy groups indicates that most of the population still doesn’t recognize what a money trap those little plastic cards can be.

Bank Of America Uses Temporary Hold To Trigger Overdraft Fee?

Bank Of America Uses Temporary Hold To Trigger Overdraft Fee?

Bank of America got so fee crazy last week that it applied a $10 overdraft fee to Christopher’s account even though it wasn’t overdrafted. I went back and forth with Christopher to try to figure out what BoA could have done to trigger this, but as you can see from the screen cap below, he only had two debits on the day of the event.

24 Hour Fitness Sued For Charging Ex-Customers Fees

24 Hour Fitness Sued For Charging Ex-Customers Fees

The gym chain made famous on NBC’s “Biggest Loser” is being sued for continuing to debit the bank accounts of customers who have canceled their memberships. The US Court of Appeals, Ninth Circuit, has given the green light to a class action lawsuit that says the chain is violating both the RICO Act and the Electronic Funds Transfer Act by keeping these zombie memberships active.

Chase Sets Early Payment Trap, Customer Falls Into It

Chase Sets Early Payment Trap, Customer Falls Into It

Daniel’s Providian/WaMu credit card was recently absorbed into Chase’s swollen belly, and they welcomed him to their family by catching him in a technicality that cost him $39. Here’s a good example of why you need to pay attention to statement cycles, even if your bank won’t tell you to.

Bank Of America Will Introduce Annual Fees Next Year On Some Cards

Bank Of America Will Introduce Annual Fees Next Year On Some Cards

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.

Capital One Invents Its Own Christmas Creep, Raises Interest Rate On December 26th

Capital One Invents Its Own Christmas Creep, Raises Interest Rate On December 26th

When Wally first got his Capital One credit card, the interest rate was 12 percent. Then they raised it to 22.9 percent. Now they’re going to raise it again—the day after Christmas—to 25.9 percent.

Expect Airlines To Keep Hiking Ticket Prices As Holidays Approach

Expect Airlines To Keep Hiking Ticket Prices As Holidays Approach

This year it’s a seller’s market when it comes to buying airline tickets, reports the New York Times, so if you must travel via plane, buy early and try to be as flexible as possible.

More Airlines Add $10 Travel Surcharge To More Holidays

More Airlines Add $10 Travel Surcharge To More Holidays

Since consumers didn’t whine too much about the addition of $10 “just because” fees airlines imposed on busy travel days, they’ve added fees on more days. Goody for us!

The Consumer Financial Protection Agency And You

The Consumer Financial Protection Agency And You

Legislation to create a Consumer Financial Protection Agency (CFPA) is making its way through Congress. Interested parties have spoken out (“It sucks!” “It’s awesome!“). Now the White House wants to know what you think.