As some of you know, we are on a mission to pay off any debt that we owe...one being a BofA Visa....well, we have been working hard on this and one great thing is that our interest rate is only 4%....well, the other day I opened our statement and about peed my pants! They had raised our interest rate to 23%.
I immediately called them and this is what they said
me: hi, why was our cc interest rate raised?
BofA: oh, we sent out a notice that rates would increase, but you can opt out if you want....would you like to change it back to the old rate?
me: uh yes. (duh)
BofA: ok, done deal..i'll change it back....is there anything else I can do to help you?
me: nope. thanks.
are you kidding me? what a bunch of crooks....seriously, who would want to leave their interest rate that high? This was an eye opener of how unregulated those cc companies are, and gave me even more motivation to pay the dumb thing off!! ugh.
5 comments:
Amen sister! Same thing just happened to me....I don't think the word "hate" is strong enough...
I KNOW EXACTLY WHAT YOU MEAN! We're trying to pay of our debt as well, and BofA was the first to go. We also had a Discover, CitiBank, and MBNA. (We each had two before we got married.) We had negative experiences with all but MBNA. We decided to keep the MBNA card around just-in-case after everything else was gone since they had been the best to deal with.
Guess which bank bought out MBNA?
- Jon
They depend on you not looking and not reading the fine print. Good riddance to credit cards.
There is a special layer of hell reserved for cc interest rate gougers! Can you write them a notice to start charging them interest? They can always opt out!
the same thing happened with us but I didnt notice it until 3 months later. I do on line banking, and since we never use that card unless of an emergency.... our balance was super low. So I was perplexed when I saw our balance was higher NOW than it was when we actually USED the card.... they raised our interest from 6% to 29%. same thing..... "oh you can opt out of the increase if you want" UH YEA!! and I asked if they would refund the interest from the 3 months before...and they said "sorry ma'am". I actually cussed on the phone.... shame on me.....
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