Bank of America tests out credit card fees

October 14, 2009 1:39:43 PM PDT
One bank is testing a new fee for its credit cards. Bank of America says it will charge a limited number of its credit card customers annual fees ranging from $29 to $99 beginning next year.

Customers whose accounts are in good standing and those who never carry a balance could be among the 1 percent of Bank of America card holders to see the fee added to their accounts. Customers can reject the fee but will have their account closed.

Bank of America says it's trying the annual fees in response to market changes and as new credit card regulations go into effect in February.


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