Credit card issuers try evading law

Banks that issue credit cards are already 10 steps ahead of any sensible law we might enact to control unfair practices.

Now that the CARD Act has become law, credit card issuers are inventing new fees to cover what the law doesn't. Don't get me wrong: The CARD Act does more good than harm. But this story shows how fast banks are at enacting new fees.

For instance, Cincinnati-based Fifth Third has introduced what it calls an "inactivity fee." If you don't use your credit card in 12 months, you get slapped with a $19 fee.

Fifth Third has a way to punish frugality, don't they?

Citigroup is worse than Fifth Third: It will charge folks a $60 annual fee if they spend less than $2,400 a year on their card.

Now you know why I didn't even bother to get a credit card until I realized it was required to order goodies off the Internet. If I got a card from Shittygroup, you know I'd be hit by their fee, since I don't come close to spending $2,400 a year.

It's like a fee for being poor!

Because Congress has proven how slothful they are in passing needed laws, I think it's time the states step in and ban credit card issuers from charging these fees.