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Are Terms & Conditions changes ever due to credit card usage?

September 16th, 2013 at 06:27 pm

Transaction Fees for your most common credit card transactions aren't changing, but fees for the following less frequently used transactions are increasing
* ATM Cash Advances
* Over the Counter (OTC) Cash Advances
* Wire Transfer Purchases
* Cash Equivalents
* Same-Day Online Cash Advances

The fee for these transactions will be 5% of the transaction amount or a minimum of $10 when the transaction amount is less than $200.

Why? I don't use any of those. I used my card eight times over the past five years and always paid in full by the statement's payment deadline. Is it because I bought a car? My credit union credit card hasn't (yet) given notice it'll change its terms and conditions, but this national bank did.

The only thing I can think of that I did wrong was get a credit card with this issuer sixteen years ago. Did anyone else get this message too?

The card issuer keeps changing its terms and conditions, and minimizing any rewards, to penalize me for using the credit card. I wonder why.

4 Responses to “Are Terms & Conditions changes ever due to credit card usage?”

  1. LuckyRobin Says:

    Card issuers constantly change their terms and conditions. I get a new ones every month for one of our cards. I doubt it has anything to do with your usage, just the bank trying to squeeze another penny out of everyone.

  2. PauletteGoddard Says:

    That's so odd. I thought the layoffs, replacement of regional employees with off-shored call centers, attempts to foreclose on properties paid for in full, ownership of payday-lending subsidiaries, elimination of limits for above-mentioned transaction charges, period when they shortened grace periods from 25-days to 21-days, introduction of mandatory arbitration, and raising of interest rates for people who've exceeded the magic extant-balances-to-limit ratio would have been enough for banks. I suppose I didn't know it at the time, but the regional area bank who first gave me the card would be swallowed by a gargantuan Tapeworm.

    I believe it's the same Tapeworm who, according to a May 2012 Consumerist article, terminated a man's credit card account because he took advantage of their 0% balance transfer offer and paid it off before the offer expired.

  3. baselle Says:

    I'm sure they do. After all, if you do pay off your card every month you are considered a "deadbeat." And deadbeats must be punished. Its a topsy turvy world out there, kiddies.

    Banco de Tapeworm. I kinda like that. Or is it JP Tapeworm? Big Grin

  4. PauletteGoddard Says:

    @baselle: Bank of Tapeworm, who bought SeaFirst long ago, with Bacteria Moynihan as CEO.

    Yeah, this po' immigrant can never understand the concept of "keep building your credit history, so your credit card issuer can mess around with your grace periods and terms and conditions and make terms worse for you than they were when your credit rating was new and closer to zero." I'll look at my kid's American History textbooks to see how that notion built the country.

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