Page 3 - Inactivity Fee News Today

More than two dozen retailers have this $7 inactivity fee. sometimes its less, a mere $2.50. talk about the banks getting you coming and going. and this isnt some boutique practice, huge retailers like walmart, walgreens and home depot use it. they give their employees a choice, direct deposit or an old fashioned check. many employees have no choice. in other cases, the employee is enrolled in the payment program automatically, and theres a small mountain of paperwork to get out of it. some empl...

Them. there are no longer annual expirations dates. you have five years to use the money on the card regardless of what the current expiration date is. know you have five years to use it but some will still charge you an inactivity fee if you dont touch it. go and dabble and use $5 or $10 here and there to keep it active to avoid the fees. but you have five years to use the money. >> thank you very much for the update. >> youre welcome. >> shannon: florida republicans bill mccullum and rick scot...

Dirty tricks ever since his website published documents from the afghanistan war. a catastrophe hit, affecting 450,000 residents to flee. the worst flooding in decade affected, killing more than 1500 people and leaving at least 6 million homeless. meanwhile, in an interview with a pakistan television station, secretary of state, hillary clinton says this extreme weather is a seen that climate change is getting worse. new federal regulations go into effect today for credit card companies and the ...

Increases and inactivity fees. now, to start, the new rules say late payment penalties cant be more than $25 or the amount of your late payment. so if youre late on say $20. your penalty fee cannot be more than $20. and in addition, you credit card company can no longer hit you with an inactivity fee for not using the card. if your card decides to increase the rate because of excessive late payments, for instance, you need to be told why. they can no longer just do th blindly and six month later...

You of this. they have to tell you they are raising their rates. six months after they raise your rates presuming you paid on time and you got yourself back into good standing you have a right to have it reviewed and if you deserve it, it can be lowered again. keep in mind, they may not decrease it 10% but six months later you are reviewed and you get some sort of rate decrease. >> gregg: now gift cards. they can be a really terrific thing, but they can also be a scam. so what about the new prot...

Conditions. kids cant get the credit cards any more. unless they can show they can pay down the debt. and no more over-the-limit fees, unless you opt in. theres a huge amount of changes going into effect on monday. >> really good for consumers and the reason they were there for credit card companies is they made them money. to the tune of like $12 billion, okay. so how are they going to recoup these losses? >> ritz interesting. because any time there is this legislation, the credit card companie...

Reason alone, greg, i got to say, if someone is charging me an inactivity fee, im not going to stay with the issuer. do you think there will be a reaction to this? >> yes, theres a reaction and action, and a lot of the new fees are in reaction to the new credit scarred rucard rules. and shop around. >> dont close the card until you can get another one, because its harder than ever to get a new credit card for some people. >> it certainly is. >> great advice. >> great advice, and logon to gerri@c...

Year and a half, to two years, you can get your deposit back. and some issuers will let you convert to it an unsecured card. you can find the liles of secured cards at bankrate.com and also check with your credit unleion to see what they offer. >> they offer great terms. and its a great way to get a credit card. mike asks i only used my card twice in 2009, and im concerned about the inactivity fees. would you recommend keeping the card and paying the inactivity fee or close the account and take ...

Say theyre good for you. 45 days notice before raising interest rates and fees. no rate hikes for the first year in most cases. get rid of overdraft fees. they have to get your permission to charge you for an overdraft. dont give them permission. some resfrikzs for people under 21. you have to be able to show that you have cash flow earnings or you have to have your parents or grandparents sign for you. watch out the people at credit.com say they will find new ways to try to get your money. >> t...