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BofA to charge annual fees on rewards credit cards
NEW YORK (AP) - Bank of America Corp. is sending notices to a limited number of customers that it will start charging an annual fee for some of its rewards credit cards starting next year.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The $29 fee will be applied every February, according to a letter sent to a customer and obtained by the Associated Press.
"We're testing this to see what the feedback is. In terms of any plans going forward, we haven't made any decisions," said Betty Riess, a spokeswoman for Bank of America. She said the fee is being "tested" on 1 percent of its credit card accounts globally, but declined to give specific numbers.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
