Me and the Bank of America... grrrrr

**lwlynch** · 09-27-2007, 05:42 PM

I had transfere a few credit cards with higher interest rates to the Bank of America card. They offered me 0% for 6 months or 3.99 for the year. Of course I took the year because I had just did transferes on my own card. To keep them to the same. After the year the rate would be 16% and I had already budgeted to get them all gone by 10 months. Come to find out today in the bill they were going to start charging 16% starting next month.

I went round and round and they swore, why would they give me a year deal. I even wrote it down. So I said, okay, offer me something better and then I would be alright. They couldn't. Needless to say, my discover gave me 0% for until 1/2010. I transfered the whole balance. POOP on them. Gosh, I am still steaming. I don't know but once you have had debt and you are working so hard to get rid of it. It just kinda erks ya, that they would love to keep you in the strangling hold. We had finally paid off our sears that we had forever by doing a transfere. Our credit got good enough to do it. Thank God, or we would still be choking on that. I hate banks, cards....vent...breathe.... Now I feel better...

**sdrjeolsen** · 09-27-2007, 05:51 PM

We had BOA and never had any problems, but I've heard of tons of people that have. Sorry they gave you the run around. I always keep all paperwork for everything these days, seems that companies are forever changing their own rules. So glad discover gave you 0%, way to persist!!

**Opal** · 09-27-2007, 07:23 PM

Sears interest rate is no better than loan sharking. Some credit cards are just as bad. Anything over 10% is highway robbery as far as I am concerned. Sheeeeesh glad I am too poor for a credit card.

**zenmama** · 10-02-2007, 01:12 PM

Originally Posted by lwlynch

I had transfere a few credit cards with higher interest rates to the Bank of America card. They offered me 0% for 6 months or 3.99 for the year. Of course I took the year because I had just did transferes on my own card. To keep them to the same. After the year the rate would be 16% and I had already budgeted to get them all gone by 10 months. Come to find out today in the bill they were going to start charging 16% starting next month.

I went round and round and they swore, why would they give me a year deal. I even wrote it down. So I said, okay, offer me something better and then I would be alright. They couldn't. Needless to say, my discover gave me 0% for until 1/2010. I transfered the whole balance. POOP on them. Gosh, I am still steaming. I don't know but once you have had debt and you are working so hard to get rid of it. It just kinda erks ya, that they would love to keep you in the strangling hold. We had finally paid off our sears that we had forever by doing a transfere. Our credit got good enough to do it. Thank God, or we would still be choking on that. I hate banks, cards....vent...breathe.... Now I feel better...

I watched "Maxed Out" yesterday and they describe these situations exactly. Nothing is locked in anymore, they can up the anty anytime based on the fine print in their contracts. SHARKS!! It really opened motivated me to get out of their grip asap!! And it really feels like just that... a choking grip.

**mikandmari** · 10-02-2007, 01:41 PM

You may find this article interesting:

http://articles.moneycentral.msn.com...UnderFire.aspx

The credit card companies are being called out on EXACTLY this crap you have experienced. "Fixed" for a certain amount of time should mean just that -- fixed!

I work for a credit card company (not B of A). Just last month we were warned in a meeting that the budget would be even "leaner and meaner" than before, because in the near future the bank may not be able to gouge their customers with fees (my words, not theirs!) profits would be down.

I wish jobs were plentiful so I didn't have to remain employed by loan sharks like this.

**gentledenny** · 10-02-2007, 03:14 PM

I have heard, read, or dreamed that with some credit card companies more than half thier profits are from fees ie late charges, over limit. and use tactics such as changeing the address of the payment or changing the date often, so even if you had automatic bANK deductions. they could catch ya for a little fee now and then... etc. I also have had my pains thoughtout the years with credit cards. Luckily i finally am in the position to pay off any charges i make at the end of the month. But it surely hasnt allways been that way. I wish there was a law that if they send you the offer in the mail. ie.. You have been preapproved for 0 percent. they should have to honor that offer. I am glad you had alternative opportunity. when you start having to pay 16 percent and above for credit. It seems like a sand trap. more ya dig, the further down you slide. Good luck with discover.

**Preston** · 10-03-2007, 03:51 AM

I haven't had too much trouble with BOA but I have has trouble with both Citibank and Chase.

I had a Visa card with Chase. I carried a balance at 4.9% and paid regularly using THEIR website. I got a late notice one month even though I had printed the page . The response from customer service was that the check was lost int he mail. ??? ONLINE PAYMENTS CAN'T BE LOST IN THE MAIL.

A few days later I get my returned check (they tried to zonk me with a returned check fee now at this point) and I looked at the check and they had typed in my account number wrong.

So I think I get that resolved. Next month same thing happens.

and the following month.

They jacked my interest rate up to near 30% but when I fought it they reimbursed my account.

But then it showed up on my credit report me being late. So Citibank sees this and then raises my 5.9% BT rate to 28%. Why? Because of a thing in the terms and conditions that says "if you default on an agreement with any creditor we can reduce your rate"

BOA my only problem is they have cut my credit line down twice despite me paying the bill on time every month. It kinda pisses me off considering there really is no reason to.

**Edna_E** · 10-03-2007, 08:18 PM

I've actually had good experiences with both BOA and Chase on these kind of deals, but I do keep the paperwork that goes with the offer, and I do not continue to use the card (since they can take all of the payment out of the free-or-cheap rate balance instead of off the most recent charges).

**gentledenny** · 10-04-2007, 06:17 PM

I am worried that credit card interest rates and games are really going to get terrible in the near future if not today. I beleive i have told ya of my capital one personal loan offers for the last few years at 6.9, this month the best they offered me was 12.9. not a credit card. a personal loan. i have a 775 FICO score.

**momto6** · 10-08-2007, 08:01 PM

I have had a lot of problems with bank of america. I called them and asked them if they could reduce my minimum payments because they raised it by over 100.00 all in one month because they could. I had never been late in over 10 years with them. We were having some financial difficulties and the first thing I did was call them before I was late. They said too bad we can do nothing for you. I asked them if they could reduce my apr for a few months to make my payments more manageable and they said I owed them too much. I told them I wanted to pay them but I couldn't afford the new minimum payments for a few months. They basically told me too bad. They wanted me to be late and get the fees. I decided to go with cccs because they were so unwilling to work with me. I cannot wait til they are paid off for good !!!! Amy

**Judi Dial** · 10-12-2007, 09:30 PM

ago and the only problem we had were they bounced checks:

-I'd deposited money into their "drop box" right before a holiday because there was a line and they hadn't checked the box.

-I'd deposited money into an account and they'd credited it to another.

We had a bigger problem with Security Pacific, we had a small account because we kept going to L.A. and no one wanted to take our checks as we lived in the desert, so we wanted a local bank. We went to give my dad's nurses the weekends off every other weekend and so we were there a lot.

The first year we were married, we owed the IRS taxes and we paid it with that checking account, knowing we'd only gotten the card for overdraft and had never used it.

They bounced the check to the IRS.

After we raised hell about it we finally got them to admit that their data entry person had goofed and han't marked the overdraft protection in their computer, but we'd marked it on our application, and they should have covered the check.

They paid the check, wrote a letter to the IRS, the credit bureau, and sent us copies of everything because we insisted. But it was a bear!

We've gone around with Wachovia, got rid of the cc and closed our 401k with them because of it. We transferred the loan and 401k to our credit union. (Paid off.) Also had the same kind of problem with Sears (paid).

We're currently getting inundated by Chase because we're in the process of paying off their ridiculous 27.9%! We're also almost getting harrassed by Discover because we aren't using their card. Ahhhhhhh!

The thing these companies don't understand is that I will never willingly do business with them again. If you're like me, would you go buy stuff from Sears? I'll go to Lowe's or just about anyone else, for almost anything rather than buy a $3 item from Sears these days.

Chase is our mortgage holder. If the interest rates keep dropping on the VA and we think we can do it, I'd like to get a 15 year loan and get rid of them altogether too. How will they make money if they piss off everyone in thier market?

The problem with all these people wanting to make an immediate profit is that we aren't amoebas, we remember. Or, at least I do! And, I don't hold a grudge, but I also never forget!

Judi

**ms. frugal kugel** · 10-13-2007, 11:22 AM

I truely despise BOA (the constrictor, we like to call them). The problem I have (HAD after this month) is paying in person, in the bank!Today I went over there, paid my bill in cash, and I get a receipt post-dated 10/15! My bill of course is due on Sunday, 10/14. Now I accept that I am cutting it close but still - cash payment in person during business hours! So I talk to the manager, who gives me the "well it's not a business day so everything done today is dated for Monday" blah blah blah and if I had an account there I could transfer the money from the account and then I wouldn't be late. Well, I can't afford an account there, the fees are outrageous! So then he tells me I can make a phone payment, and is there a fee, well probably. This is the last month I deal with these people. The staff are great but the corp. is evil. I only use this bank because I can walk in and make a payment, but obviously that doesn't work for them so they no longer work for me. Of course I'm going to play nicey-nice on the phone, so they don't pull any more dirty tricks once I give them the heads up about cancelling. I put nothing past the BOA!