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Fiore Pokes Fun at Credit Card Reform

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.

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Joshua Heckathorn's picture

Joshua Heckathorn was President of Creditnet, is a credit expert and has been featured on CNNMoney, FOX Business, Yahoo Finance, The Street, and many other national publications during the past ten years.  He received a Bachelor of Science in Management (Finance) from Brigham Young University's Marriott School of Business and earned his MBA from Seattle University.

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