Saturday, March 26, 2011
Some credit cards start charging "minimum interest" even on zero balance
This isn’t really an “identity security” problem, but I want to report it. Today, I noticed that FIA card services, on the credit card for my mother’s estate, charged a minimum interest fee of $1.50 even though the balance due was paid in full (as it always is).
I haven’t noticed this on any of my other cards yet. But I wonder if that’s next. FICO scoring rules favor having more cards and not using all the credit. But that could mean even more fees.