B of A Sucks

BobbyFord

BobbyFord

Secret Agent Man
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I just got a notice in the mail that my AAA Visa (B of A) card will have an APR increase (from 4.00%) to approx. 13.25% :eek:
WTH? I've never made a late payment in my life. My balance is actually under $1000. I've never bounced a check in my life. My FICO score is around 780.
Bank of America sucks. We taxpayers bail out the banks and this is how we are rewarded? I intend to snip the card up and pay off the balance.
I have called the 877 number on the notice and rejected the increase but cannot use the card again or the increase will go into effect. Oh well, looks like B of A will lose a lot of customers. My other cards are with Chase. Chase is not increasing my APR. I'll just get a Visa from Chase.
Bye-bye B of A.
Anybody else experiencing this?
 
I don't have a true CC (but i have an unactivated paypal charge card if i ever need it), but dad is Visa/Chase and mom is discover.
 
It chaps my hide. I can understand if I was late on payments but to raise rates on the people that pay ontime is a joke. I guess it's my fault for carrying a balance; my bad.
 
Greedy bastards just looking to fill their pockets. They didn't get to keep enough of the bailout money for their personal yachts and mansions so they've got to steal the money some other way.
 
Credit card, what's that? Thankfully we freed ourselves from those things a few years ago. And, actually for the past 10 years we paid off the balance monthly except for twice a year. We paid a small amount of interest to keep the card's 0 yearly fee. But, when they wanted to start charging us a fee regardless we canceled the card. We only had the one.
 
Took BB&T over a month to replace my Debit Card. :eek:

BB&T's locations are very inconvenient but the Wawa Market right down the road has a free ATM.
 
TexasRaceLady said:
I keep mine for convenience --- right now, MrTRL is working on a house in Alabama --- having a CC makes it easy for him to get the supplies he needs.
Click to expand...
Alabama? Anticipating a move or is he working as a carpenter?

Like i said, I have a CC from both parents, plus my Debit card, plus a paypal charge card in the ever rare event that i may need it (just have to activate it).
 
BobbyFord said:
I just got a notice in the mail that my AAA Visa (B of A) card will have an APR increase (from 4.00%) to approx. 13.25% :eek:
WTH? I've never made a late payment in my life. My balance is actually under $1000. I've never bounced a check in my life. My FICO score is around 780.
Bank of America sucks. We taxpayers bail out the banks and this is how we are rewarded? I intend to snip the card up and pay off the balance.
I have called the 877 number on the notice and rejected the increase but cannot use the card again or the increase will go into effect. Oh well, looks like B of A will lose a lot of customers. My other cards are with Chase. Chase is not increasing my APR. I'll just get a Visa from Chase.
Bye-bye B of A.
Anybody else experiencing this?
Click to expand...

Look closely at all your credit card companies, so far my Shell Gas card got cut up, because of this increase, Capitol One same thing, and my BoFA card is on the chopping block next. The laws are changing in 2010, so all credit card companies are trying to milk consumers of more $$. I'm just going to keep one card for awhile until all the dust settles in early 2010, then play the percentage game.
 
BobbyFord said:
It chaps my hide. I can understand if I was late on payments but to raise rates on the people that pay ontime is a joke. I guess it's my fault for carrying a balance; my bad.
Click to expand...

Even if you carry a balance....my friend always pays his balance on time has a high limit 25k or something...they are raising his rate 6 points!
 
Bailout Banks Hike Up Charges while recording record profits because they received a bunch of our money and are sticking it to us. :rolleyes:

It's pretty easy to see how they're recording profits, but it's not helping the economy. They're still not lending money. They're just taking money and putting it in their pockets. They're still raising fees.

... and I still haven't got my damn debit card. :mad:

Oh and they just added a new monthly fee for online banking... wth?
 
I've got to admit, I get a little pissed when I see BB&T on Clint Bowyer's car. It's nice they charge these ridiculous fees and take $3 billion in bailout money yet they've got the money to sponsor a Sprint Cup racecar. :mad:
 
AndyMarquisLIVE said:
I've got to admit, I get a little pissed when I see BB&T on Clint Bowyer's car. It's nice they charge these ridiculous fees and take $3 billion in bailout money yet they've got the money to sponsor a Sprint Cup racecar. :mad:
Click to expand...
see: citibank

agreed
 
Hey guys, one of these days when you see Bank of America, it might mean just that...the government's banks. I guess that would be fine... according to at least 37% of the people.
 
buckaroo said:
Hey guys, one of these days when you see Bank of America, it might mean just that...the government's banks. I guess that would be fine... according to at least 37% of the people.
Click to expand...

Buck it isn't fine with me, that is for sure. We both have BofA, but are looking into taking all our accounts out and going to a smaller local bank. Only thing is i have a self directed brokerage account and most of the smaller local banks don't offer that. Have an IRA, 3 checking,one is the wifes', and the brokerage. Their fees suck, but the convienence factor out weighs the fees for me. Plus I can move my money around easily, with out much hassle. The government will own just about everything soon if Obama has his way.
 
Mopardh9 said:
Buck it isn't fine with me, that is for sure. We both have BofA, but are looking into taking all our accounts out and going to a smaller local bank. Only thing is i have a self directed brokerage account and most of the smaller local banks don't offer that. Have an IRA, 3 checking,one is the wifes', and the brokerage. Their fees suck, but the convienence factor out weighs the fees for me. Plus I can move my money around easily, with out much hassle. The government will own just about everything soon if Obama has his way.
Click to expand...

I know a lot of people got pissed at B of A when they started giving the illlegals checking accounts and home loans. I think they even started to do banking in Mexico. Wells Fargo was also in on it too.
http://www.10news.com/money/11000657/detail.html
 
Buck,
Going to a small,regional bank won't help. They're all in this together. Thicker then thieves. I've had accounts since 1983 at Washington Trust Co. a local bank. They raised our cc rates, I cancelled the cards then closed all of our accounts and moved them to our credit union.

The woman at the bank was "shocked" I'd take such "drastic measures" yet didn't offer to return the cc rates.

FWIW, credit unions, at least here, run under a dfferent set of rules and regs then banks do yet offer the same FDIC protection. YMMV

If cc companies didn't blanket college campuses handing out cards to students with 5k+ limits we'd be paying 2% interest and they'd still be raking the cash in.
 
SST55 said:
Buck,
Going to a small,regional bank won't help. They're all in this together. Thicker then thieves. I've had accounts since 1983 at Washington Trust Co. a local bank. They raised our cc rates, I cancelled the cards then closed all of our accounts and moved them to our credit union.

The woman at the bank was "shocked" I'd take such "drastic measures" yet didn't offer to return the cc rates.

FWIW, credit unions, at least here, run under a dfferent set of rules and regs then banks do yet offer the same FDIC protection. YMMV

If cc companies didn't blanket college campuses handing out cards to students with 5k+ limits we'd be paying 2% interest and they'd still be raking the cash in.
Click to expand...
yup. a good chunk of our money is at a CU now. My school loans are through wells fargo.
 
SST55 said:
Buck,
Going to a small,regional bank won't help. They're all in this together. Thicker then thieves. I've had accounts since 1983 at Washington Trust Co. a local bank. They raised our cc rates, I cancelled the cards then closed all of our accounts and moved them to our credit union. .
Click to expand...
Yep, I understand and know that. CC's are great, but they are just getting started in the "banking" business compared to real banks and are going in the same direction. One day, there won't be much differences.

Take my word for it as someone who delivers such things, CC offers are not going out in the same rate as they once did. But the banks are doing what they can to make money, and we all see what it is that they are doing. When the chit hits the fan, maybe they will do something different, but it's got to be a whole boatload of chit.
 
My buddy showed me a letter this morning from Chase. They sent him a notice about 2 weeks ago saying that they were increasing his credit card rate. He called and cancelled his acct. He gets a letter in the mail yesterday saying something like "Dear Sir, we accidentally sent you a notice of rate increase. Your acct. shows no delinquent payments. If you have already cancelled your acct. and would like it reinstated at the previous rate, please call xxx-xxx-xxxx. We sincerely apoligize for any inconvenience."
I thought that was cool of Chase.
 
my insurance company, State Farm, wants to increase my monthly payment by $400 to $700 because of a speeding ticket. :eek:

the speeding ticket in question was actually supposed to be removed... but the MVA, in Maryland fashion, won't do it because they don't have to.

It's nice to see the State can ignore a court order :rolleyes:
 
BobbyFord said:
I just got a notice in the mail that my AAA Visa (B of A) card will have an APR increase (from 4.00%) to approx. 13.25% :eek:
WTH? I've never made a late payment in my life. My balance is actually under $1000. I've never bounced a check in my life. My FICO score is around 780.
Bank of America sucks. We taxpayers bail out the banks and this is how we are rewarded? I intend to snip the card up and pay off the balance.
I have called the 877 number on the notice and rejected the increase but cannot use the card again or the increase will go into effect. Oh well, looks like B of A will lose a lot of customers. My other cards are with Chase. Chase is not increasing my APR. I'll just get a Visa from Chase.
Bye-bye B of A.
Anybody else experiencing this?
Click to expand...

Recommendation....don't just snip the card or your account is still active. make sure that your acoount is officially cancelled and you receive a written notice from BOA to that effect. Otherwise you may still be responsible for any charges on the account plus other complications.
 
And when you do cancell an account it will be a hit on your FICO score, as long as you don't care about that too much, I would cancell the card. So far I have cancelled 2 cards, but I have also applied for one. I can play their stupid game too, and use it to my advantage.:growl:
 
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