Comments | j_koch: greedy ass Bank of America

j_koch

greedy ass Bank of America

Apr 09, 2009 14:32

So the Fed will loan banks money for less than 1%, but Bank of America is going to raise the interest rate on my credit card to over 10%!!
That equates to over 10% profit....guaranteed...and they still want corporate welfare with my tax dollars!! FUCK YOU.

Just last week I got notification from Countrywide (who was bought by BOA) that I will need to ( Read more... )

Comments 6

amftx April 9 2009, 19:54:36 UTC

You should have the option to opt out. You won't be able to use the card anymore, but so what. Opt out, and pay it off at the lower rate and tell them to get fucked.

j_koch April 9 2009, 20:11:58 UTC

I was going to pay it off this month anyway, but it reminds me of a similar situation a few years ago when Chase/Citi jacked up my interest rate from a low/medium single digit rate to something over 10%.

I called them on it and asked for justification and legality. They admitted they had no justification (late payment or anything else) and mailed me a copy of my "contract" with the terms and conditions. One of the last was a catch-all that gave them the right to reset rates whenever, basically to whatever, without justification. They stated they "could no longer honor the rates provided" to a group of accounts which included mine.

GREEDY m fukin' corporations with more rights that individuals!!

jscro April 9 2009, 20:30:02 UTC

They think they're raising rates to cover their asses for the massive write off they're having to make for bad consumer debt. This is just going to drive people to use credit even less, and probably eating into their profits as well. I can't stand BOA, but most big credit card issuers are stuck between a rock and a hard place. My Amex blue raised it rates, and that's pretty unheard of for American Express who is probably the most civil of the credit card giants.

Go to UFCU, you will not be sorry.

westheoperative April 9 2009, 21:24:25 UTC

here's another +1 for ufcu. i had this exact same issue happen with capital one last month.

dirtywest April 11 2009, 00:19:06 UTC

For every person they drive to use less credit another sucker will take on more credit. They don't care. They're already working on high school & college kids right now. They have a never ending supply of young people to abuse credit cards.

j_koch April 13 2009, 20:22:09 UTC

I thought this was a timely post by the ABJ...
http://austin.bizjournals.com/austin/stories/2009/04/13/daily11.html

sounds accurate too...I put a bit over $2000 on my credit card every semester (for 3 graduate hours)and pay it off just in time to do it all over again the next semester.