Cagey Consumer


Capital One Credit Cards

One of the biggest categories of "junk mail" is credit card offers.

These junk mailings cost the banks lots of money, and as a result, banks figure that each new credit card account they obtain costs them over $100. The trend for the last several years has been to focus on covering this expense through increased fee income.

While many banks have been increasing charges for late payments or exceeding credit limits, some have also been looking for ways to apply these fees in new situations, or simply to become very hard-nosed in applying them.

This has become Capital One's strategy, but it could backfire if enough customers close their accounts in response to this fee frenzy.

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updated November 7, 2001