I have been a credit card holder with Bank of America for 4 years. I recieved my bill this month and it went from 15.99% to 19.99 percent. This is an increase above and beyond the rate rise from a few months ago when interest rates started to rise and so the variable raises with it.
I called customer service and after several transfers talked to a supervisor who informed me that she could not see why the rate had raised. It had gone thru a committee and they had decided to adjust my rate. She would request a letter be sent to me.
There is no number or email address to contact anyone at Bank of America. Her (L. Hulsey from Pheonix, AZ in Credit Card Services) words were "there is no one for you to contact as the department is internal").
I am EXTREMELY upset because I watch credit card rates and try to optimize on the lower interest rates. I make my payments on time and have not been over the credit limit. After my divorce, I tood responsibility for the marriage debt - have consolidated and always make payment more than minimum. My credit is good.
I just want to know why I am being penalized. No one seems to know - I just keep getting lipservice "it could be a multitude of things - but we do not know what. However, if you would like to pay an annual fee - then we can reduce your interest rate. That is all we can do."
Has anyone else had this problem?
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