I was informed by BOA that my interest rate on my credit card was going up to 27.99 %, so I called to find out what was going on.
I was told that I was only making the minimium payment on cards, which is not true since my credit rating just went up to @ 680 for paying ahead of time and paying more than the minimum and that I had used my credit cards more often recently. I've had their card since 2003.
I was told I could refuse to accept this ripoff in writing, but that I could no longer use the card or the 27.99 % would go into effect. Needless to say, I refused their offer and cut up the card.
I recently read in Forbes that BOA is doing this to alot of their customers that pay on time to recoup all the cards they sent out to dead beats on their pre-approved offers. Don't let this happen to you.
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