Comments on: Bank of America boosting credit card rates

By: Wendy Norman

Wendy Norman — Sat, 09 May 2009 16:28:04 +0000

Bank of America employee tells customer with a high credit score, Our job is not to look out for the customers credit score, we look out for our company. Search the www for other stories of how Bank of America is closing customers accounts who pay on time. These actions automatically lower credit scores. This results in bills being due before paychecks come. I’m going to use my other credit cards. Is this what they’re doing with our stimulus money?

By: Discover cards latest to raise interest rates at Personal Finance Blog, Budgeting, Debt @ Bankaholic

Mon, 20 Apr 2009 20:43:02 +0000

[...] Bank of America, Citigroup. JP Morgan Chase. American Express. They’re all doing it. Even stores like Target are increasing their credit card rates. [...]

By: Jimbo

Jimbo — Tue, 14 Apr 2009 22:04:01 +0000

I say let them ding my FICO a little for closing an account. If you don’t use the card they’ll close it for you these days. The banks are constantly looking to unload dormant accounts. They don’t want the risk that you might actually use it and they’d need the capital to back the transaction.

By: J Peter Gallo

J Peter Gallo — Tue, 14 Apr 2009 01:00:51 +0000

Bank of America lowered my credit line in half. i have a 827 fico, never been late, pay my balance in full every month. never carry a balance. have a 9.9% interest rate which i have never used. it is a visa signature card that was originally with MBNA who was great. Never have liked B of A and hate them more now than ever. What did i do? i canceled my mastercard also with BofA. then i paid off my balance as i always do and will not cancel the card since that hurts a fico. i will never use the card or do anything with Bank of America again. now who wins? surely not bank of america. i guess American Express wins and will get all my business (member since 1965). if i need a visa card then i will use my visa debt card through my local bank. NICE JOB BofA………….you have proved once again that you do not belong in the banking business. OH! when they lowered my credit line they told me a letter was sent out. i am still waiting for that letter and it has been almost a month. imagine, lowering someones credit line and not even having the guts to let them know.