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Bank of America Credit Cards

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Gregory of Tallahasee FL (11/25/08)
I think Bank of America is intentionally sending out credit card statements late in order to trick their customers into paying late so that they can then jack up the interest and late fees. My business credit card statement came in last Fridays mail (11/21) and is Due this Friday (11/28). I was out of the office last Friday and yesterday (Monday)so now even if I put it in the mail today (11/25) it might not get there by the due date.

I had to drive all over town to find a Bank of America so I could pay in person. I looked at the envelope that contained the statement to see when it was mailed to me but there is no way to determine this - its a postage pre-paid envelope so it's not postmarked. There is some kind of bar code that the USPS put on the envelope but I took it to the post office and they said they could not tell (when it was mailed) from the bar code.

I called Bank of America and they claimed that the bill was mailed out on the 10th of the month. I don't believe this, if its true then that means it took 11 days to deliver. If this was the first time this had happened I would not be concerned but I have detected a pattern and I honestly believe this is intentional. And i believe they are using the pre-paid postage envelope to cover their tracks.

I have had to pay penalties and interest in the past, and today I had to drive around looking for a Bank of America location so I could pay my bill, instead of being at work and being productive.

Sandy of Lansing, MI November 25, 2008

Sandy of Lansing MI (11/25/08)
Last month, my card was used to buy an airline ticket by an identity thief, and I thought I had the problem cleared up. Yes, the charge was removed and a fraud adjustment made to my account and a new account number give to me. However, they jacked my rate up to 19.99% from 15.74%. I wrote them a couple months when they notified me of a rate increase unless I wrote them a letter contesting the increase, which I did. Until now, the rate was kept the same. After the fraudulent charge, the rate jumped right up. It doesn't seem to matter whether I made the the charge or someone else die fraudulently, they are going to increase the rate for any excuse.

This is abuse to a person who has always paid on time and always more than the minimum amount. That doesn't seem to matter to this company. Only profit at any expense matters! This needs to be stopped. I will be contacting them today, but I first wanted to but out a heads-up on this company.

A 4.52% increase in what they get to collect over the life of remaining amount due! That comes out to quite a lot.

Bob of Pembroke, MA November 25, 2008

Bob of Pembroke MA (11/25/08)
Called BOA to ask for a lower interest on my accounts, when asked why, I was honest and explained to them that there was a large increase in my home heating budget payments for this coming winter, and lower payments on my credit card and loan would help. They told me that I was making my payments on time and at this time could not help me out.

My next question was my downfall. I asked if ther was a problem making my payment on time (not that I was expecting there to be one) would I be able to avoid large late fees etc., before I could get finished they had closed my loan which had a line of credit and my credit card. They put me in contact with a company called Nova Debt with offices in California and New Jersey.

This was the only way I could now deal with BOA.Nobody else to talk to.I did listen to them but declined their plan as I won't do business like that with a company that does not have an office somewhere in my home state that I can sit down with someone in person. I would not be really saving a great amount each month either.( there is also 50 monthly fee) All my other cards would be closed also. Is it possible to find out if Nova Debt is connected to BOA as anything that was explained to me was what BOA required nothing about any other creditor's requirements.

Jenny of Grand Rapids, MI November 23, 2008

Jenny of Grand Rapids MI (11/23/08)
On October 21 my Bank of America card was declined at the Post Office for 2. Knowing I had credit I called from work only to find out that my APR had been jacked from 14.9 to 30% overnight and my payment had doubled and my available credit had been sucked up by a 190 finance charge. After talking to a representative I found that after making 1 payment ONE HOUR late (online) and another payment 2 days late and gone over the limit my rate changed to a default rate. When the rate changed I went over the limit-yes over the limit with finance charges-I was charged a fee of 40.

To my mistake I said to the rep how am I going to pay this, I should just close my account, and hung up. When I called back to talk to someone else I found they closed both my BOA accounts not just the one I threatened. That representative NEVER got my DOB or SSN to confirm who I was. When I told a senior rep this she said well you must have referenced something on your account. When does referencing something on your account make up for confirming your ID? Even when you make a payment via phone they want your DOB AND SSN. I spent over an hour talking to more people trying to get my accounts reopened knowing that my rate would never change once closed (from experience).

Every supervisor I talked to was rude, wouldn't remove any fees and said if I paid a 100(over the limit)maybe they would lower my rate. They also transferred me to another dept to pay off my debt? I never asked for help No one would listen to me. It's almost like I was speaking a different language. Since I never got an opt out for either card I composed a separate letter for each card threatening them with my writing the North Carolina State Attorny General if they didn't change my rate. Plus I am sending both letters to their corporate office in Delaware. If If I pay only the 300 (more than double my original payment) on each card it will take me 40 months to pay them off at this interest rate.

When I called on 11/22 to find if I was mailing my letters to the right address in DE I used my cell phone and didn't give my account number and just asked the rep nicely for a correspondence address. But when he asked why I told him I wanted to opt out and he said rudly it was in the letter. When I told him I didn't get a letter he actually said how do you know you can do such things?

May file bankruptcy for the 15000 I owe BOA on my two accounts-something I would have never considered if they hadn't put such a finacial noose on me.

Anthony of Destin, FL November 22, 2008

Anthony of Destin FL (11/22/08)
since they became more or less a finance company. we charged to much, but always and still pay everyone on time.this practice we thought would save us from outrages finance charges. we were wrong! they raised our interest rates to 24% ,and there probably not done. they seem to be able todo any thing they want along those lines. if our debt ratio is bad, how does it help to raise interest rates. they should be lower taking into consideration agood paying record.

There biggest tactic is online banking and autoomatic payments. Credit line transfers make it easy to get fast money. Then they ctch you sleeping, raise your rates and no matter what you pay the principal balance does not go down fast enough. My basic complaint is they should be big enough to help not hurt.

WE ARE ACTUALLY BANKRUPT. WE JUST PRETEND WERE NOT, LIKE MOST AMERICANS!

Cecille of Culver City, CA November 22, 2008

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