Credit Card Fee

[AUTO-FX]

I have 2 business credit cards, one of which I dont even use. It recently converted to Wells Fargo from Wachovia, and when I opened the new statement, there is a 50$ charge for "Rewards Membership Fee".
Now, I think - what the **** is the matter with this scenario.
They want ME to pay 50$ so I can get "rewards" on the MY money. They're going to take MY 50$ so they can give it back to me and expect me to think they are doing me a ****ing favor???
HOW COMPLETELY ABSURD!!!

Needless to say I canceled the account.
Thank you for allowing my rant!

 

[Graphics2u]

I noticed that on my account to, I think you'll find most all rewards cards are that way. However last year I paid for nearly an entire cruise with my rewards so I figure it's worth it.

Except on the merchant end, If you accept credit cards, you'll pay a higher fee for processing on someone that uses a rewards card than someone who doesn't. So the credit card company isn't giving you anything, it's coming out of the pocket of merchants you buy from.

 

[WildWestDesigns]

I noticed that on my account to, I think you'll find most all rewards cards are that way. However last year I paid for nearly an entire cruise with my rewards so I figure it's worth it.

I have one from 5/3 and it doesn't have that. Now it does take quite a bit more to get to some of the rewards, but I didn't have to do a "buy-in", however, I do think that is more of the industry standard. I might have just gotten lucky.