From Pine View Farm

The Fee Hand of the Market 4

It would seem that this is what passes for innovation these days.

New regulations that capped certain credit card fees, coupled with a dip in card usage, have resulted in consumers paying millions less in penalty fees over the past three years.

The bad news? Credit card issuers are busy dreaming up new types of fees to make up for the shortfall.

(snip)

Consumers soon could find themselves charged for a lost or second card, for paper statements and even for not using their card enough or for making too many calls to customer service.

Some issuers have started charging from $1 to $5 for customer service calls beyond a certain limit per billing cycle, Mr. Hammer said.

Innovation as defined by Paulie Walnuts.

4 comments

  1. Karen

    January 30, 2013 at 9:36 am

    And I don’t know why you are surprised at this. We both know how big corporate works. All for them. To hell with everyone else.

     
  2. Frank

    January 30, 2013 at 9:51 am

    I’m not surprised.  Merely appalled.

     
  3. George Smith

    January 30, 2013 at 11:42 am

    In passing, read yesterday that Bank of America is now even more hated by its customers than during the height of the great recession. So their boss is worried and what did he come up with? Ordering the wage flunkies on the end of the help lines to be more courteous.

     
  4. Frank

    January 30, 2013 at 11:04 pm

    We’ve gone from bank robbers to robber banks.