I cancelled my credit card

Some banks and service providers seem to feel that it is their commercial right to impose hefty charges for late payment or other administrative oversight.

A few months ago, I received a letter from a credit card company informing me that the charge for late payment and for insufficient funds is in the order of $30 to $50. This is in addition to their interest of 2% per month. I was so angry that I called the hotline to cancel the credit card. The customer service officer was surprised at my action. He did not seem to understand why I reacted in that manner.