Credit Card Companies Implementing Fees for Paper Statements

Some credit card companies have recently started charging fees for paper statements, according to a report by WPXI.
Karen Ruetschle
, a customer of American Eagle credit card, was surprised to find a $1.99 charge for her paper statement. The fine print of Synchrony Bank, which provides credit cards for retailers like American Eagle, discloses the fee for paper statements. Credit card companies must obtain your consent to switch from paper to electronic statements. Although there is no federal law prohibiting paper statement fees, some states such as New York and Pennsylvania have implemented their own laws to ban such fees. If you receive paper statements, you can contact your credit card company to inquire about any charges, request a fee waiver, or opt for free digital statements.