Bank of America announced this week that it’s adding, or in PR-speak, "testing” annual fees on almost 1 percent of its cardholders. The range of fees will vary from $29 to $99 annually.

"Selection was based on individual accounts–not a specific card–and generally was based on risk and profitability of the account," said spokesperson Betty Riess via email. Customers were notified in early October, and the fee will appear on their February statements. They can reject the change, but if they do so, the account will be closed. Closing a card account can ding your credit score, particularly if it is one with a large credit limit and low balance. Your credit score also can be hurt if the closed account is very old, since 15 percent of your credit score is based on the length of your credit history.

B of A isn't alone in adding annual fees. According to the financial research firm Tower Group, in the first three months of 2009, 27 percent of card offers carried an annual fee, up from 18 percent in 2008. As American Banker reported back in August, Citibank has begun charging some customers a $30 to $90 annual fee if they charge less than a certain amount per year, usually $2,400.–Chris Fichera