STYLETHREAD -- LET'S TALK SHOP!

TheLovelyLady71 · Hermes

Credit Card Membership Fee?

Boots · Gucci

I refuse to own a card that charges me a membership fee. I'd try calling the credit card company and asking them to waive the fees. I'd threaten to close the card (they won't know that you're bluffing.) It's ridiculous to pay them to use the card, unless you are getting a seriously great interest rate and you intend on carrying a balance each month.

Suasoria · Chanel

That's dumb. They should waive it if you're a good customer and not a risk to them. Amex charges an annual fee, but there's no credit limit, which is the main perk.

pollyjean23 · Marc Jacobs

In this day and age, unless you have AMEX or some other fancy card, you shouldn't have to pay an annual fee. I will say that we should all be paying extra close attention to cards right now because more and more are starting to slip in fees and majorly bump up their APRs. For example, I got notice that the APR cap/ceiling for my VS card has been eliminated. Who knows where the percentage level will stop!

jah · Dooney & Bourke

The new credit card laws mean a lot of pending changes in credit card fees and memberships, etc. Since new government regulation has forced a change in the interest structures and late fees that can be charged, more and more card companies are going to institute annual or monthly fees. The changes the government are instituting equate to 50 Billion in revenue, so the card companies have to make it up some way.

The old ways of threatening to leave to get them to waive the fee is not as likely to work (particularly since many card companies are now closing cards or lowering limits). Not that you shouldn't try, just be aware this technique is going to be less successful now.

Yep, it sucks. I guess we can thank those who don't pay their bills on time, but the government thinks shouldn't have to pay late fees for the increased fees all of those who do pay their bills on time will now have to pay.