If you pay off your credit card each month and are enrolled in cash back programs you are a loser. No more cash back and fees for credit cards are in our future.

http://news.yahoo.com/s/ap/20090520/ap_on_...ss_credit_cards

 

well you don't expect banks to be waving little flags and celebrating do you?

of course they are going to preach the end of the world they want to stop the bill.

but banks still make a ton of money of fees to the seller, regardless of how much they make on interest on the consumer.

The good customers ( 800+ FICO) who are a low risk will still get credit cards.
the good but also rans will be the ones who suffer.

 

I'm not concerned about getting a credit card, I don't want to pay for it and I still want the cash back.

 

We've both been getting a lot of bank offers for very attractive credit cards lately. +1 got some last week and I've started getting them this week. What's up with that? Anyone know?

 

I filled out the "option out form" for the wife and I online about a month ago and the cc offers, with the exception of Chase have stopped.

According to the "experts" banks will begin to charge annual fee's for the cards and may also began to charge you interest from the day you make the purchase. If that happens, goodbye credit cards!

 

Darlene, this is the website: https://www.optoutprescreen.com/opt_form.cgi

 

I'll opt out when I get the lowest ever possible rates. I'm probably one of those people that credit card companies hate since I carry no balance. I do not get nearly as much junk any more because I have my mail forwarded when I'm away from home and the post office does not forward the crap. Its wonderful.

 

The net result will be that ordinary people who pay their bills and don't have excessive balences will get hit with higher monthly interest rates. I pay my two cards off every month without fail, and I will demonstrate to both of those companies instantly that I have no loyalty whatsoever.

 

I too have become rather ruthless in these trying times. I feel absolutely no obligation to these greedy basta*ds who have robbed me blind in times past. I do feel a certain "brand loyalty" to the bank who has granted us nice rates, no fee accounts, etc. over the years, but I'll drop 'em in a second for a better deal.

 

If a credit card company tacks on an annual fee for customers like you and me, we won't be customers any more. Pretty simple.

Thing is, banks know that the people who pay off their cards every month and have no-annual-fee cards are exactly like this. Banks are still going to want this business. So there will still be some no-annual-fee, no-interest-if-paid-in-full cards.