General Discussion

FakeNoose

(36,628 posts)

41. If we pay our credit card off in full every month, the banks consider us "freeloaders"

Wed Feb 19, 2025, 11:07 AM

Wednesday

They hate the fact that they can't charge "interest" when our payments get made on time.

It doesn't surprise me at all that they've finally figured out how to charge us for the "free service." And I believe most credit card users won't even notice, when we pay the balance. I didn't notice, until you pointed it out.

Over 30 years ago (can't remember exactly when) my bank started charging $.17 fees every time I wrote a check, but using my debit card was free. Guess what? I started using my debit card for just about everything except small cash purchases. That's how the banks changed Americans' buying behavior.

By now they can pretty much do whatever they want. A small number of depositors will switch to a different bank, but everyone else will just shell out the fees.

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A recent change to my credit card terms gobsmacked me [View all] maxrandb Wednesday OP

If it was me I would cancel that card ASAP. Those terms are bullshit. JohnSJ Wednesday #1

I did maxrandb Wednesday #3

+++. That company deserves to go broke, but as you alluded to, they are trying to take advantage of people who JohnSJ Wednesday #6

ALWAYS. dchill Wednesday #65

what bank MissKat Wednesday #34

Maxrandb must want to protect the banks name. Omnipresent Wednesday #52

No Max isn't maxrandb Wednesday #60

That hurts your credit rating, or at least that's been my experience. Meadowoak Wednesday #9

Short term, and if you have a good credit score it won't even impact it. However, if that is a concern, then just shred JohnSJ Wednesday #10

Yes, one year I used my tax refund and paid off two cards, Meadowoak Wednesday #35

you can go on the bank's website and lock the account. yellowdogintexas Thursday #102

Which Credit Card was this? unweird Wednesday #2

Gobsmacked, can't speak or write... Omnipresent Wednesday #53

Wow, that seems illegal to me... Meowmee Wednesday #4

It is not illegal if there is nobody to enforce the law Bluetus Wednesday #16

Good thing op cancelled the card Meowmee Wednesday #74

Thanks for the heads-up. We also pay in full every month. Oopsie Daisy Wednesday #5

That sounds like a regz violation. Who is the issuer? Buckeyeblue Wednesday #7

This message was self-deleted by its author Native Wednesday #8

Trump has given all companies the green light to screw us. Irish_Dem Wednesday #11

I think that is true Cirsium Wednesday #47

Most people in the US seem very slow on the uptake. Irish_Dem Wednesday #69

Poor information Cirsium Wednesday #70

There is a lot of information out there. Irish_Dem Wednesday #71

Maybe Cirsium Thursday #80

Yes of course it is more complicated than that. Irish_Dem Thursday #84

Might call the Bureau for Consumer Protection. Ooops! Never mind. President Trump has took it away. Midnight Writer Wednesday #12

Try finding a deRien Wednesday #13

Kick dalton99a Wednesday #14

Name and shame... Happy Hoosier Wednesday #15

we have been sweetapogee Wednesday #17

Been there. Done that. 20 years now. defacto7 Wednesday #23

That's not a new thing overall EdmondDantes_ Wednesday #18

I don't see it Cirsium Wednesday #48

It's in the "In a Nutshell" EdmondDantes_ Wednesday #62

Sure Cirsium Wednesday #63

It is new, if the OP has been paying off their balance in full each month like they claimed. W_HAMILTON Wednesday #68

Did you read what you cited? Specifically the part in () EdmondDantes_ Wednesday #77

I do the same as the OP and have never yet seen these fees on my bills Mike 03 Thursday #97

Thanks for this Joinfortmill Wednesday #19

This is not new. PoindexterOglethorpe Wednesday #20

I don't know if it's new or not, but I have never seen such fees on my bills ever Mike 03 Thursday #98

Because most people maintain a balance, PoindexterOglethorpe Thursday #103

I hate credit cards, but keep one for US charges and one for the EU DFW Wednesday #21

Same here. yardwork Wednesday #51

It would be helpful Chicagogrl1 Wednesday #22

To make things easier... OldBaldy1701E Wednesday #25

White list Cirsium Wednesday #49

The MAGA solution is to cut regulations and fire the regulators IronLionZion Wednesday #24

I think that Trump wants to take the markodochartaigh Wednesday #46

"Slow the testing down, please" Cirsium Wednesday #50

Credit card bromeando Wednesday #26

Thanks for the heads up. We'll check ours. surfered Wednesday #27

Like I've post before we are living in a lawless society where rapist's and cons yaesu Wednesday #28

Thanks for the heads up bucolic_frolic Wednesday #29

I hope it wasn't Navy Federal Credit Union Farmer-Rick Wednesday #30

Hey, maxrandb! WHICH BANK WAS IT THAT HAD THIS CREDIT CARD?????? BComplex Wednesday #31

Reluctant to share maxrandb Wednesday #36

Got it. BComplex Wednesday #45

Way too many customers for it to be personally IDing Dark n Stormy Knight Wednesday #67

Giving up too soon OrangeJoe Wednesday #76

Whatever. I'm doubtful of your story. Buckeyeblue Thursday #89

checked Capital One Savor One and did not notice any such charges cadoman Thursday #81

Let's hope other creditors such as utilities don't start doing that crap. KY_EnviroGuy Wednesday #32

Some utilities gave already stated Lonely in Oklahoma Wednesday #79

Welcome to DU ! KS Toronado Thursday #85

Welcome to DU LetMyPeopleVote Thursday #93

Noticed the same thing AverageOldGuy Wednesday #33

I cancelled all my cards years ago! Linda ladeewolf Wednesday #37

1+ Norrrm Wednesday #38

Irish dem julmur Wednesday #39

They are the worst in so many ways! piddyprints Wednesday #64

Yes, they are the worse. A couple of years ago, I was at a big box store returning a purchase Deuxcents Wednesday #78

You've got to watch EVERYBODY! Give Peace A Chance Wednesday #40

If we pay our credit card off in full every month, the banks consider us "freeloaders" FakeNoose Wednesday #41

It isn't even a "free" service drmeow Wednesday #61

Yes, I believe the banks still make money on "freeloaders". Shermann Wednesday #73

Exactly - even when we pay in full each month drmeow Wednesday #75

Effective interest rate Johnny2X2X Wednesday #42

Get an American Express charge card. nt LexVegas Wednesday #43

Capital One charged me interest on a credit Figarosmom Wednesday #44

Switch to a local credit union. No annual fee and most I've ever seen is 9.9% (Bad enough, but nothing like big corps.) Evolve Dammit Wednesday #54

In the old days, like the 1970s, you called a plumber, they came out to your house, ... planetc Wednesday #55

That's why I... 2naSalit Wednesday #56

This appears to be true. A little research delivered this. usaf-vet Wednesday #57

This doesn't list specific issuers who have changed their terms and conditions Buckeyeblue Thursday #90

The companies aren't waving flags and saying hey, look at me. I'm going to steal an extra dollar or two each month. usaf-vet Thursday #92

Federally regulated financial institutions must provide at least 21 days of grace period Buckeyeblue Thursday #96

I agree. What is the problem with naming the issuers? There are only so Mike 03 Thursday #99

This is useful. peacebuzzard Wednesday #58

Welcome to Trump's world order. nt Exp Wednesday #59

Which credit card company is this? Dark n Stormy Knight Wednesday #66

Why deal with a bank? BidenRocks Wednesday #72

That's a real dumb policy. They will lose customers in the millions for GoodRaisin Thursday #82

Reference - fyi jgo Thursday #83

Most credit cards only charge residual interest if charge is for cash rather than purchases wishstar Thursday #87

when sweetapogee Thursday #91

They pay me. Aussie105 Thursday #86

Debit cards scare me claudette Thursday #101

i really hate the charge for mailing a paoer bill rampartd Thursday #88

Thanks for the heads up Lulu KC Thursday #94

Wow. I will definitely check my upcoming bills. Like you, for decades I've Mike 03 Thursday #95

I admit I'm often dense and slow to understand something... Mike 03 Thursday #100

wtf? Going to check this out now ecstatic Thursday #104