Loraine Mullen-Kress carries a Bank of America credit card and religiously pays off her balance. ‘Flawless credit,’ she boasted. Yet now, her good credit habits could cost her. Earlier this month Bank of America started notifying customers like Mullen-Kress that they will be charged a new annual fee of $29 to $99. ‘There is a big segment of their population that they will have never made money on, which is people who pay their bills on time every month,’ said Ben Woolsey, Director of Consumer Research at CreditCards.com. Bank of America said in a statement: ‘At this point we’re testing the fee on a very small number of accounts and haven’t made any final decisions.’ Citigroup is also trying out an annual fee with some card holders, and analysts expect more banks to follow their lead. The banks are starting to charge fees to reliable customers in response to a slew of new credit card industry regulations that will limit when banks can hike interest rates. Cardholders who get a new annual fee notice in the mail will be in a no-win situation. ‘They can either pay that fee or they can close the […]