More Bad News For Bank Customers: Debit Card Fees

Will a monthly debit card fee soon be the norm? Bank of America said Thursday that it plans to start charging a $5 monthly fee when customers make debit card purchases. The fee will be rolled out starting early next year.

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HeyMikey - 9/29/2011 7:05 PM

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Here's what to do. Don't use your debit card, if you have a credit card, especially one that pays rewards. Use it as you would a debit card, then use your bank's automated bill pay to pay off what you charged out of your checking account. You avoid debit card fees, there's no interest because you pay it off during the credit card statement cycle, and you get rewards. I've been doing this with my Southwest Airlines Visa card, and I've racked up one flight already in just two months. It works!