“Credit Card Fees become Cash Cow”
By Christine Dugas, USA Today
July 14, 2004

Credit card fees are escalating, and it’s no longer just a problem for habitual deadbeats.

Shrinking billing cycles and stricter payment deadlines mean even conscientious bill payers are being penalized.

The result: Last year the industry took in $43 billion in fee income, up from $39 billion in 2002, according to R.K. Hammer Investment Bankers. Fees accounted for 35% of industry income last year, up from 18% six years ago.

This is only a summarization. You can read the entire article on USA Today’s website at http://www.usatoday.com/money/perfi/credit/2004-07-13-credit-cards_x.htm

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