Watch Out for New Credit Card Fees

With the Credit Card Act of 2009 looming, its rules will go into effect in February, credit card companies are starting to institute more fees ahead of the rules changes. A new Wall Street Journal article cites several of these new fees including $1 processing fees for printed statements, reduction in rewards programs, and fees for inactive accounts. We first talked about some issuers charging fees if you didn’t meet a certain spending threshold last August.

Much like with banks, leave them if you don’t like it. I thought the comment by Christopher Moss, who holds a card that will start charging $1 for statements, that he was “prepared …