| |
| | Metrics 2.0: Study: Credit Card Late Fees Much Higher; 35% Assessed Late Fees |
 | | The six credit card issuers examined in the study, which together accounted for 80% of credit card lending in the country as of 2004, are Citigroup's Citibank, JP Morgan Chase's Chase Bank USA, Bank of America, MBNA America Bank, Capital One Financial and Morgan Stanley's Discover Financial Services. |
 | | These issuers reported that 35% of their active U.S. accounts were assessed late fees and 13% were assessed over-limit fees in 2005. |
 | | Between 1980 and 2005, the amount that U.S. consumers charged to their cards grew from an estimated $69 billion per year to more than $1.8 trillion, with the number of U.S. credit cards issued to consumers now exceeding 691 million, according to CardWeb.com data. |
| www.metrics2.com /blog/2006/10/11/study_credit_card_late_fees_much_higher_35_assesse.html (405 words) |
|