Comments on: Pay An Annual Fee, Help Poor Banks!

By: jim

jim — Sat, 27 Jan 2007 12:57:18 +0000

nelson: You’re right, the article above says that a consumer advocate cooked up that idea and presented it to the Committee, my brain must have translated that to credit card advocate because I don’t know how that guy could possible be on the consumer’s side…

Either way it’s crap. It’s not like these credit card companies are fighting to stay solvent… they’re just printing money over there.

By: Master Allan

Master Allan — Sat, 27 Jan 2007 03:37:49 +0000

I read this article earlier in the day and considered mailing it to blueprint for comments. No surprise it ended up here before I had a chance. My first thoughts…Outrageous! Honestly I know the credit card companies are being taken on a ride, by me. 27, Discover Card since 18, never ever a late payment. They have that 1% cash back award and I’ve earned $66 in the last 9 months with the cash payback not to mention the conveinence of a onestop payment method for my bills/purchases.

But despite what I’m doing, why should I have to pay for the irresponsibilities of others? Should I have to pay a higher income tax because I buy less crap and generate less sales tax revenue than my neighbors the Jones’?

By: Matt

Matt — Sat, 27 Jan 2007 01:50:26 +0000

I saw this on CNN earlier today as well, and figured it would upset the PF bloggers. I wonder what percentage of credit card users in this day and age are “deadbeats”…

I completely agree with your thoughts; why charge the people who make good on repaying their debts to the credit card companies every month? Oh yeah, to “earn” more money.

By: samerwriter

samerwriter — Sat, 27 Jan 2007 01:37:19 +0000

Surely an annual fee isn’t enough to cover our fair share. It seems to me we should be sending in extra payments as well to help out. Maybe someone could set up a charity to help funnel funds to Capital One and Bank Of America?

I can just see Sally Struthers now…

“If each person who pays his credit card bills on time would just send $1000, that’s just one month’s interest payment for a typical American household, Capital One’s CEO could afford to give his son Timmy a McLaren F1 for his birthday.”

By: nelson

nelson — Fri, 26 Jan 2007 22:56:07 +0000

I’m trying to figure out who said that people who pay their balances in full every month should be charged an annual fee to “pay their fair share.” The article you cite attributes this claim to a “consumer advocate” and your post gives it to a “credit card” advocate.

If the credit card companies said this I can continue funneling my hate towards their shady practices, but I understand what they said because they’re greedy and they need more ways to extract money from everyone. But if a consumer advocate said this….I’m lost. In the long run, how does that idea help consumers?

By: Mission Debt Freedom

Mission Debt Freedom — Fri, 26 Jan 2007 22:29:32 +0000

I have a real hard time feeling sorry for credit card companies! I used to work for a credit card processor, who provided 3rd party processing and customer services for the big banks. They are a sleazy bunch – but genious marketeers!