In response to the CARD Act, credit card companies are desperately seeking to boost profits by resurrecting old fees and creating new ones.
The long-lost inactivity fee is one that’s been receiving a lot of attention in the media lately. Use your card too much, and you end up in debt. Use your card too little, and your credit issuer will slap you with a nasty inactivity fee for basically not being profitable enough.
Mark Fiore, political cartoonist/illustrator, obviously finds the whole situation pretty ridiculous. He pokes fun at credit card reform and the industry’s response in this video by dubbing the credit card companies’ efforts to adapt as the “Safe Credit Revision Everyone Wins Undertaking”, or S.C.R.E.W.U.
And just in case credit issuers have run out of ideas for new fees, which I’m sure they haven’t, Fiore even provides some excellent suggestions. Among my personal favorites—the “legibility processing fee for left-handers”, which will also apply to right-handers, and the “thought processing fee” for simply thinking about the word credit.
Enjoy…this is brilliant.
Author: Joshua Heckathorn, Date posted: January 14th, 2010
Category: Credit News
Credit¢ents Blog Feed
Leave a reply