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Always Opt Out Of Over-The-Limit Fees

Watch out for credit cards asking you to “opt in” to over-the-limit fees.

Yeah, it’s seems like a no-brainer to say “no” to that one.

Opt out of over-the-limit feesWhen the Credit Card Accountability Responsibility and Disclosure Act takes full effect on Feb. 22, it will protect consumers from some of the industry’s worst abuses.

Penalties for exceeding your credit limit is one of them.

But we’ve heard of at least one bank that’s using a misleading sales pitch to see if it can get customers to accept this punitive fee.

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