Credit Card Companies Experiment with Annual Fees

      NBC News has reported that credit card companies are experimenting with annual fees for certain card holders to make up for lost revenues. http://today.msnbc.msn.com/id/33335064/ns/business-consumer_news/

      If your bank indicates an intention to impose a fee for your credit card, raise a fuss, and if you can afford it, consider closing your account to make a point. But not all consumers can or should do that, because as noted in the news story, credit scores can be adversely affected by closing and reopening credit card accounts. Savvy consumers will think twice before closing their accounts, but now is the time to make your point if you so choose. Let the card company know in writing why you're cancelling the card--so there will be no doubt in its corporate mind.