{"id":37555,"date":"2024-10-25T00:08:55","date_gmt":"2024-10-25T00:08:55","guid":{"rendered":"https:\/\/isafespend.com\/?p=37555"},"modified":"2024-10-25T00:08:56","modified_gmt":"2024-10-25T00:08:56","slug":"credit-card-companies-now-charging-extra-fees-for-paper-statements","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=37555","title":{"rendered":"Credit card companies now charging extra fees for paper statements"},"content":{"rendered":"
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A new push to move credit card users to a digital statement will now come with a penalty for those who don\u2019t want to comply.<\/p>\n

Credit card companies from big name retailers have been silently rolling out a fee of $1.99 if you wish to keep receiving paper statements.<\/p>\n

One of the biggest offenders is Synchrony Bank, and they have co-branded and store-affiliated credit cards with over 100 cards in their lineup, which include Sam’s Club\u00ae Credit Card, the Lowe’s Store Card, and the Amazon Store Card.<\/p>\n

In November of last year, Citibank released new guidance to its customers saying that going paperless was “now required to access your account on Citi.com and the Citi Mobile App,”<\/p>\n

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There isn\u2019t a law banning paper statements, however, but permission is required in order to start paperless billing.<\/p>\n

In a report to NBC Los Angeles Alicia Galowitsch said that the change started to add up for them. They account for every penny.\u00a0<\/p>\n

“It\u2019s very tight. It\u2019s very tight to where we had to start going to a food bank,” said Ms. Galowitsch. “It\u2019s going to be $11.94,” said Galowitsch.<\/p>\n

The couple has a number of credit cards and receive statements to help with organization.<\/p>\n

‘If I’m not here, the payments are going to be late because Mark’s not going to know what to do. With paper statements, everything is written down for him,’ she noted.\u00a0<\/p>\n

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\"Dollar<\/source><\/source><\/source><\/source><\/picture><\/div>\n<\/p><\/div>\n

Other concerns come with users who are not technologically savvy.\u00a0\u00a0<\/p>\n

Business professor Elaine Luther from Point Park University says online banking can pose a threat to security.\u00a0<\/p>\n

CLICK HERE TO GET FOX BUSINESS ON THE GO<\/strong><\/p>\n

Online Reddit users have also been raising concerns regarding the fee.<\/p>\n

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\"Person<\/source><\/source><\/source><\/source><\/picture><\/div>\n<\/p><\/div>\n

\u2018I have the Paypal mastercard and got a letter in the mail today. Beginning in April they will start charging if you are not using electronic statements. It is a small fee of $2.50 but still just a heads up if anyone has any cards by them may want to check.\u2019<\/p>\n

\u2018Closing my account, \u2019one user wrote on a thread titled: Synchrony to begin charging for paper statements,’ they said.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A new push to move credit card users to a digital statement will now come with a penalty for those who don\u2019t want to comply. Credit card companies from big name retailers have been silently rolling out a fee of $1.99 if you wish to keep receiving paper statements. One of the biggest offenders is<\/p>\n","protected":false},"author":1,"featured_media":37556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[32],"class_list":{"0":"post-37555","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-featured"},"yoast_head":"\nCredit card companies now charging extra fees for paper statements | iSafeSpend<\/title>\n<meta name=\"description\" content=\"A new push to move credit card users to a digital statement will now come with a penalty for those who don\u2019t want to comply. 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