There have been a number of news stories recently about the "backlash" against banks regarding bank fees. Here is my story: a $70 charge on a $10 bill that got me to cancel my Chase visa in anger.

Unfortunately, its a long story...

Here is the background: I have had this credit card from Chase for at least 5 years. I used to use it often but the past year or two I never use it. In the past, I got sick of late fees so I connected it to my BofA bank account with their automatic payment system. I never have to worry about being late: the card pays itself.

Another thing I have had for a long time is a $99 subscription to Apple's mobileME (originally .Mac). I bought that plan when I bought my first Mac and I used the email to register with iTunes for my iPod and iPhone.

I got an email that my subscription was about over. I thought about it and realized that I have never used mobileMe for anything. What the hell am I paying Apple for? Its a waste of money.

But I wasnt sure what would happened if I canceled. Would my iTunes music stop working? Or my iPhones? I thought I wanted to quit but I hesitated and got distracted with life.

I felt safe though because I also got a notice that the credit card on file with Apple was expired. I assumed that the transaction would not go through. By stalling my problem would solve itself.

Except it did not. Apple charged my Chase card and I found out about it a month later on my credit card bill. Again, I decided to resolve this issue and cancel the service - but I was tardy.

And Apple does not make it easy. There is no phone number on the credit card charge. There is no phone number on Apple's website. If you search enough, you will find some help pages.

That is when you will learn that Apple does not allow cancellation after 45 days. Unlike every other service I have ever heard of, Apple does not pro-rate. If you are within 45 days, the webpage will include a cancel button; if not, there is no cancel. See you next year...

I was just over 50 days late. So Im pissed. I get to pay $99 for another year of useless mobileMe.

But it gets better.

The bank account that I had linked to my Chase account is from California. Since I havent lived there in over 6 years, I had recently closed that bank account and removed all the money. It turned out that BofA had not closed the account but there was no money in it.

While I was trying to figure out how to cancel with Apple, my automatic pay period with Chase had passed. I hadnt worried about paying the bill because I was planning to get the charge removed but Chase withdrew $10.

Or tried to. Milliseconds after the charge, it failed since there was no money in the account.

BofA charged me $30 for bouncing a payment. Chase charged me $29 for bouncing a payment and another $39 for a late fee.

First I call BofA. They make me wait on hold for EVAH, but the person I talk to is totally nice. She reverses the charges and tries (again) to close the account. I am feeling good about BofA.

Then I call Chase and get a totally different experience. They don't make me wait on hold but the person I talk too could not care less about my situation. I owe them money. No discussion.

I have talked to credit card companies in the past and they always remove fees like this. It costs them nothing. I have good credit, pay my bills and rarely have weird issues like this.

But not this time. Chase wanted their $70 fee on the missed $10 payment. So I got angry and cancelled the card.

I am still angry. I have just paid $170 for a service I never wanted in the first place and wont use. Plus I have been stressed out and leave with a bad taste for Chase and for Apple.

It is a glimpse of the future - where you are at the mercy of massive corporations which are all pretty similar. 10 years ago, there were a lot of banks. Now there are fewer every day. I got rid of my Chase credit card but they bought my bank account when they purchased WAMU so I am still a customer.

Not a life and death situation but a reminder that capitalism has reached a point where things dont always get better and you dont always have a choice.

So I hope Congress runs these banks over the hot coals of bank reform but it will be a Pyhirric victory as I will doubtlessly pay either way.