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Bank Of America / increased finance charges

1 TN, United States Review updated:

Received letter stating the Bank of America was doubling my interest rate. Never been late on a payment. Always paid at least double what they required as a minimum payment. Have complained to them several times since I received letter...one explanation was I had not paid my balance down to at least half of what I owed, although that was never told to me. Another explanation was my debt to income ration, however, I have never missed a payment and always doubled what they asked for. Said they could not review or reconsider my request for a lower interest rate for 6 months.

I hope we are charging them extremely high interest on the bailout money our government has given them!!!

Will never use Bank of America Visa card again EVER!

Ma
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Comments

  • Do
      4th of Mar, 2009
    0 Votes

    I receive change of acccount notification; my finance charge were going increase to 26.99%, i needed to respond by a May 30, to reject the increase. If I did not accept the changes I my account would be closed and I would pay the account off at the current amount. I recently received an increase in my finance charge of 27%. I have spoke to approximately 3o individual trying to get this corrected. The most recent individual informed me that I had not been late on this account account so the reviewed my account and that is why there was an increase. I explained the account I had closed the account over a year and a half prior, so why were they revisiting my account? She said the account was never closed. I sent the letter certified mail for proof. I did not trust them from previous tactics. She(Michelle) informs me that she has to re-review my account to help me. I explained, I did not want her to run my credit, she stated as long as I had there credit card she had that right. I explained that I did not have their credit card I closed the account and I had not used that card since '07, when I declined the increase. I ask her why is she taking me through all of this and when I am sure there are multiple notes on the account regarding this. She stated she understands I have spoken to numerous people but she is the one to resolve my issue. She said she will close the account per customers request. She would have the account finance charge dropped to 10%. I received a letter today, Stating could not assist me due to serious delinquency, high unpaid revolving debt to high. (not true). The account was closed because I have sufficient debt considering my income as per my discussion with the credit analyst. All of this is fabrication.

  • Do
      12th of Mar, 2009
    0 Votes

    My interest rates on all my cards have shot up. I always pay in full every month, so it doesn't matter too much for me, but from what I see, they don't even need an excuse... they do whatever they want, whenever they want, as often as they want.

    They won't be paying us interest on those billions we gave them. They probably won't even pay it back at all.

  • Si
      12th of Nov, 2009
    0 Votes

    I am charged 125% more finance charge than the previous month, even though my payment was scheduled on time and got credited before the due date. No clue, what is going on with them, I never use this BoA credit card anymore.

    Legal robbery thieves - BOA.

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