It is expected that credit card companies might start charging annual fee for making up on their lost revenues but consumers need not worry as with it would bring better deals and don’t think a split second before changing your card. Expect the market to get heated up and you would have a lot to choose as there would still be companies which would not be charging any annual fee.
Besides this you might also witness an increase in interest rates by these companies and this will certainly turn off the users who are already paying high rates of interest.
Credit cad companies already mint a lot of money and this decision states their unstoppable hunger for more profits but believe me they stand to lose in the long run as this is a highly competitive market and it won’t take a minute to lose your existing customer.
