Foreign Currency Charges

Citibank wrote me to tell me that they would now charge 3% on all foreign currency transactions. Well, that’s one card I won’t use again.

I read that last year credit card companies earned over $11 billion in late charges. That is another reason I use my credit cards as little as possible. Too often the bill arrived after the due date. I won’t even go into the ill thought out bankruptcy bill pushed through Congress by credit card companies.

Credit card companies do not make money on me. Although I have over $100,000 in credit lines my balance at the end of each month is 0. I use them only when absolutely necessary saving for things I want and prepaying rather than paying later. Credit cards are handy when ordering books from the States, but I will use another card then my Citibank Card.

My grandmother is clapping in her grave at my New England frugalness.