NEW YORK—In a move that suggests paper credit card statements are likely on their way out, some issuers are now charging a fee to send the documents in the mail, WPXI reports.
Karen Ruetschle told WPXI that she noticed she was getting charged $1.99 for the paper statement for her American Eagle credit card.
The fee for paper statements is written in Synchrony Bank’s fine print, which provides credit cards to retailers like American Eagle, WPXI said.
To switch from paper to electronic statements, credit card companies are required to get your consent. There is no federal law banning paper statement fees, but states can pass their own laws banning it. So far, only New York and Pennsylvania have banned the fees, WPXI said.