We have been customers of Bank of America for 10 years, holding a Visa card with them. Our APR has been 9.9%, no lates, no over limits, always pay more than asked.
Recently we got a notice, not even a bank return address-probably half the people threw them out. It says our APR is DOUBLING for no reason.
You can dispute/refuse this change in terms by sending, through the US MAIL your full name and full credit card number saying you refuse. (Send credit card info through the mail-yeah, right). This will lock your APR where it is, BUT, if the card is used after the date given, the rate will double. When you call, they basically blow you off.
I have read the disclosures, and NOWHERE does it say they can just double what you have dutifully paid for years with no "dings".
Anyone have an idea how to get them to stop this psychosis. Yeah, I know they're a bank, but, this simply is NOT right.
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