NOVEMBER 08, 2007
If you have credit cards or loans of any kind, you might want to take a look at this article: Beware of Citibank's Retroactive Late Fee. Apparently some banks and loan companies are charging their customers with "retroactive fees" without notifying the customers of it.
It's speculated that banks are doing this to recoup their losses from the subprime lending mess but, whatever the reason, unexpectedly slapping people with retroactive fees and not telling them about it is just skanky, especially since they're even doing it on accounts that have already been paid off. And that would make for a nasty surprise on your credit report - finding that your credit score has been dinged because a loan you paid off has an outstanding balance due to retroactive fees your bank charged without telling you about it.
So, the moral of the story is check you credit and loan accounts every month, even if the accounts are paid off, because you never know when unexpected and totally asinine charges are going to show up and bite you in the arse. Like a monthly fee for merely existing or getting slapped with a late fee for that library book you were late returning in the fourth grade.
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