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Old 08-03-2010, 06:42 AM
 
1,492 posts, read 7,359,004 times
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Just read online about how alot of card companies are using 'inactivity fees' as a way to keep their bottom line strong since the new laws went into effect- - supposed to 'help' the consumer.

Surely military members don't want to close down their accounts before going overseas.... but for those single members (who don't have a spouse at home to use the cards from time to time) how do they avoid those penalties for not using their cards?

Has anyone actually been hit with an inactivity fee when you were overseas? Did you have to pay it? Share your story.
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Old 08-03-2010, 03:09 PM
 
41,762 posts, read 22,781,187 times
Reputation: 9691
Quote:
Originally Posted by VegasGrace View Post
Just read online about how alot of card companies are using 'inactivity fees' as a way to keep their bottom line strong since the new laws went into effect- - supposed to 'help' the consumer.

Surely military members don't want to close down their accounts before going overseas.... but for those single members (who don't have a spouse at home to use the cards from time to time) how do they avoid those penalties for not using their cards?

Has anyone actually been hit with an inactivity fee when you were overseas? Did you have to pay it? Share your story.
Before you go overseas...just call your CC company and tell them what is going on.....

Always read your fine print that "no one reads" and throws in the trash, they have to tell you they are imposing this "what ever fee"....

I have a credit card that never had a yearly fee, I get this fine print that says "hey this card now has a fee" and oh by the way, you cannot pay the yearly fee up front, we will charge your credit card on a monthly basis.....

So what I do is buy a candy bar and pay $20 and that pays me up for 3 months....just so I do not have to pay late fees....
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Old 08-03-2010, 03:43 PM
 
2,190 posts, read 7,310,529 times
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They're banned with new financial bill that just passed. Unsure when it goes into effect, though.
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Old 08-03-2010, 04:39 PM
 
Location: Hawaii
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Even during combat tours troops use their credit/debit cards. If it isn't purchasing something on base it's ordering something on the internet. When I was in Iraq I ordered a 30" flat screen HDTV and a DVD player. A week later I was living large, dodging incoming and watching AFN in my hooch.
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Old 08-06-2010, 08:32 AM
 
556 posts, read 744,497 times
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I don't know if it's covered under the Servicemembers' Civil Relief Act, but I would just call the credit card company and let them know your deploying and go from there.
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Old 08-06-2010, 09:06 AM
 
Location: New Mexico U.S.A.
26,531 posts, read 46,893,363 times
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Quote:
Originally Posted by VegasGrace View Post
Just read online about how alot of card companies are using 'inactivity fees'

Share your story.
New Federal Reserve Board rules which take effect August 22, 2010 bans inactivity fees, such as fees charged to card holders who don't use their card to make new purchases.
Federal Reserve Board Article: FRB: Credit Card Rules (WYNTK) August 22

But I am sure credit card company's have a variety of way's to extract money from you. So, be careful.

Rich
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