I pay my bank of America Card online through the Bank of America's web site. I usually pay early but a couple of times I have paid on the due date listed on my bill. This last payment I made was on the due date, not late, and there was already a late charge fee for $39. I made the payment from my bank of America checking account and then called Customer Service to see why I had already been charged a late fee when I was actually not late. I was told by Bank of America's Customer Service that their system automatically charges the late fee on the due date due to the fact that if you pay on the due date it will not actually go through until the next day. But they take the money out of my checking account instantly.
Where is my money for 24 hours? And I always thought the due date was your last day to pay before being late and charged this outrageously high fee. Not for Bank of America. Also if you have charges that show up on your card that is not yours they will tell you to first contact the company that withdrew the funds and beg them for your money back. I'm changing banks and as soon as I pay off my card I will cut it up. Have had a Bank of America Card for 12 years never late until this past October when I had surgery and was 3 days late on a payment. My interest rate went from 9.9% to 29.94%. What a bunch of crooks.
Hopefully the Government will do something soon about these banks outrageous charges and holding money illegally in escrow accounts gaining interest for themselves.
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