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Credit Card Fee

Discussion in 'Business Management' started by AUTO-FX, Feb 25, 2011.

  1. AUTO-FX

    AUTO-FX Very Active Member

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    Feb 14, 2010
    I have 2 business credit cards, one of which I dont even use. It recently converted to Wells Fargo from Wachovia, and when I opened the new statement, there is a 50$ charge for "Rewards Membership Fee".
    Now, I think - what the **** is the matter with this scenario.
    They want ME to pay 50$ so I can get "rewards" on the MY money. They're going to take MY 50$ so they can give it back to me and expect me to think they are doing me a ****ing favor???
    HOW COMPLETELY ABSURD!!! :frustrated:

    Needless to say I canceled the account.
    Thank you for allowing my rant!
     
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  2. Graphics2u

    Graphics2u Very Active Member

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    I noticed that on my account to, I think you'll find most all rewards cards are that way. However last year I paid for nearly an entire cruise with my rewards so I figure it's worth it.

    Except on the merchant end, If you accept credit cards, you'll pay a higher fee for processing on someone that uses a rewards card than someone who doesn't. So the credit card company isn't giving you anything, it's coming out of the pocket of merchants you buy from.
     
  3. WildWestDesigns

    WildWestDesigns Major Contributor

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    Sep 27, 2010
    Mid TN

    I have one from 5/3 and it doesn't have that. Now it does take quite a bit more to get to some of the rewards, but I didn't have to do a "buy-in", however, I do think that is more of the industry standard. I might have just gotten lucky.
     
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