Lightspeed Research PowerPoint Template

Issuer Actions on Credit Card Overlimit FeesIssuerOverlimit Limit Fees ActionAmerican ExpressAmerican Express has notified cardholders that they are eliminating the overlimit fee.Bank of AmericaCapital OneChaseCitiDiscoverUS BankWells FargoBank of America has notified cardholders that they are eliminating the overlimit fee.Capital One has notified cardholders that they may opt-in to allow overlimit charges on someaccounts. The Capital One fee of $29 will apply only once per billing cycle, even for multipleinstances of over-limit.Chase has allowed some cardholders to opt-in to over-limit fees – but the opt-in seems tovary by cardholder: some accounts have not had the overlimit opt-in clause while others do,regardless of product type.Citi mailed change in terms notices that included $39 overlimit fees, effective January 2010,barely a month before the February restrictions took effect. Citi has since eliminated theoverlimit fee.Discover has notified cardholders that they are eliminating the over-limit fee.US Bank has notified cardholders that they may opt-in to allow overlimit charges; a $39 feeapplies when exceeding the credit limit.Wells Fargo has notified cardholders that they are eliminating the over-limit fee.Copyright © 2010 Lightspeed Research. Proprietary and Confidential. All rights reserved.24