From Britain comes this BBC story about Barclaycard's new billing policy for credit card users. Barclaycard users who pay their bills in full every month (the kind of customer US credit card companies call "deadbeats") will have a shorter time to pay before incurring a £20 late fee. That's to offset the fact that the credit card company isn't making any money from interest charges off of those customers, so setting a late-fee trap for them is the only way to make a profit.
I'm sure there are a few US creditors who'd love to do something like this, but I doubt they'd be as honest about it as the British lender is being. It may never happen here, but we are talking about the industry that invented universal default, so we'd better be on the lookout for this kind of nonsense.
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