Chase Credit Card Annual Fee

In the latest fee rolled out by a bank, JPMorgan Chase, the nation's largest card issuer, has begun charging hundreds of thousands of borrowers a $10-a-month, or $120-a-year, fee. The change affects consumers with low promotional rates who have carried a large balance for more than two years and made little progress paying it off, says Chase spokeswoman Stephanie Jacobson.

Cash-strapped consumers can't seem to get a break from high credit card fees and rates. Some banks fearful that consumers are becoming riskier to lend to have stepped up increases in credit card rates and fees to raise cash. 

Norman transferred card debt to chase, he says, because he was promised a "fixed rate" for the life of the balance.