Saturday, January 31, 2009

TD Bank Backs Down on Fees

TD To Hold Line on Fees for 2009
$35 Inactivity Fee Scrapped

It almost looked like a move of sheer desperation when TD Canada Trust announced it was introducing a $35 inactivity fee for unused lines of credit.

You heard right, they were going to charge people for NOT using their line of credit! After immediate and loud opposition to this cash grab by outraged customers, the bank has decided to be 'nice' guys and changed their mind on the fee.

They spin it to sound like they are doing everyone a favour, but you can bet there must be some seriously worried officials in bank land if they have to try and raise money this way.

The rates they charge for using their Visa credit card is almost criminal, and now they were wanting to charge for NOT using credit! Give me a break.

allvoices

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