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Innovation

Smart idea? Alienating customers with perfect credit

Bank of America is experimenting with annual fees for credit deadbeats that pay off their balance every month.
Written by Larry Dignan, Contributor on

Bank of America is experimenting with annual fees for credit deadbeats that pay off their balance every month.

CBS 2 in New York reports that Bank of America started notifying customers earlier this month that good credit habits could mean annual fees of $29 to $99 a year.

Do what you're supposed to---don't let your credit card balances grow---and you pay a penalty. Bank of America said it is just testing the fee on a small number of accounts.

I don't begrudge the banks for trying to make a little money on customers that rarely pay interest, but does this send a good message for a debt-ridden society at large?

This post was originally published on Smartplanet.com

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