I heard that they were planning that, but I thought CARD Act was supposed to stop that for existing accounts....

It looks like the credit card act has some serious flaws and BOA was the first to come out last year talking about adding annual fees to some of their prime customers to supplement profits.

Well.....I've been reading online from customers that Bank of America has started to add annual fees to their credit card accounts. so if I happen to get one , there would be no hesitation on the words "close my account" immediately.I have no love for their credit card division anyway.

I heard that they were planning that, but I thought CARD Act was supposed to stop that for existing accounts....

Well.....I've been reading online from customers that Bank of America has started to add annual fees to their credit card accounts. so if I happen to get one , there would be no hesitation on the words "close my account" immediately.I have no love for their credit card division anyway.

To carry the mighty Bank of America Affinity Card (for my university). I have had a $29 annual fee for three plus years now. Yes, it bugs me but, my college gets a percentage of my card expenditures to help with scholar ships for college students at my university. Oh, my APR is 14.9%.

Well.....I've been reading online from customers that Bank of America has started to add annual fees to their credit card accounts. so if I happen to get one , there would be no hesitation on the words "close my account" immediately.I have no love for their credit card division anyway.

They (creditors) have us by the neck.

Too be honest, all this does is make BOA customers who have a long history with the bank prioritize paying down their account. Of course the AF will not go over well but if you have a long (over 5 years), spotless history with the bank, what choice do you have ? Most will cringe, but accept the AF. Those chosen who have a great history with the bank will argue for a lower fee, although in my opinion the $99 AF will be applied to the riskiest customers. Wanderer I agree, the others (banks) will follow so for those with a short history with BOA moving to competitor b might not escape the reality.

All - you realize someone starts it and then the rest get on the kick. AF's will spread like germs to the other drooling bank card issuers.

I guess there's the upside of not having a BoA credit card anymore.

I guess the interesting part will be who will be assessed and who will be untouched (consumers) when this plays out. $99 - more than an AMEX Green ! Will this AF be at the first of the year, when you opened the acct, etc. ?

Nice to see our tax dollars at work, helping the consumer huh?

Well all its official, BOA will start charging between $39 - $99 annual fee to its credit card holders. From what the news said not everyone will be charged this fee but in the same breath it was also stated that even if you carry a zero balance or have never been late doesn't exempt you from this declaration. Now comes the hard part, who has to and who doesn't have to............... :