Tuesday, August 11, 2009

Discover and American Express End Over the Credit Limit Fees

USA Today reports that these credit cards have ended over-the-limit fees. This has been an important source of revenue for some banks, but has also angered consumers. When the Card Act of 2009 becomes effective in a few months, card issuers will have to obtain the card holders permission before they can levy these fee. Consumers who do not agree will be denied credit for purchases that exceed credit limits.

Read USA article.

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