A few weeks ago, I discovered that I was being charged a $1.99 monthly paper statement fee on two store credit cards. I wondered how long this had been going on, so I did some research and found that these fees started last fall. The new push is to move credit card users to a digital statement and those who don’t comply are now being penalized with a fee.
According to Fox Business, one of the biggest offenders is Synchrony Bank. They have co-branded and store-affiliated credit cards with over 100 cards in their lineup, which include Sam’s Club, Lowe’s and Amazon cards. I also discovered that PayPal Credit and JCPenney are among them.
This seems almost illegal, or at least unfair, because many people aren’t technologically savvy and/or do not have internet access. How are they to receive an email reminding them when their bill is due and to pay online? Not everyone has a computer, and those who do may not know how to manage an online account. And don’t assume they are elderly.
