The Spark

the Voice of
The Communist League of Revolutionary Workers–Internationalist

“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx

Credit Card Fees:
Vultures Want Their Dead Meat

Apr 6, 2009

Banks sure have their tricks to make more profit off of credit cards – such as higher late fees and cash-advance fees. Some banks have gotten even more “creative” lately: they impose a penalty on customers who “make little progress paying off their debts.”

But isn’t that what the same banks want their customers to do in the first place, so the customers pay more in interest?

Not at all. All that matters to the banks is their bottom line, and so far these scams have paid off for them. In the past two years, banks made 37 billion dollars in penalty fees alone.

As hard times hit more and more families, these bloodsuckers called banks are rushing to take advantage of people’s despair.