I just ran across this article in BusinessWeek. Apparently Bank of America is brazenly raising interest rates on many of its credit cards. Those affected received notice in the mail, and instructions on how to opt out, but in a letter that was most likely tossed. Some folks are seeing their rates go from 9 percent to 29 percent for no reason!
So if you have a BofA card and carry a balance, keep your eyes peeled.
Here is the article
Watch your Bank of America credit card
February 7th, 2008 at 05:37 pm
February 7th, 2008 at 05:42 pm 1202406171
Can't say that I am surprised. That is the reason I am no longer a BOA cardholder. Well, technically I do still have both cards. (they bought out a bank I had a different card with) However, once they decided to raise my rate(s) for no reason (I was not late with them or any other bill(s) and they were asked to lower them and they declined, I transfered my balance(s) elsewhere and BOA has been trying to lure me back ever since. (4 or 5 years now) Like that is EVER going to happen! @@
February 7th, 2008 at 05:43 pm 1202406211
February 7th, 2008 at 06:42 pm 1202409774
February 7th, 2008 at 08:07 pm 1202414852
February 8th, 2008 at 07:15 am 1202454942
Sigh...I know it will "hurt" my credit rating though.
But it's probably for the best.
February 8th, 2008 at 02:05 pm 1202479500