Bank Of America
Credit Card Interest Rate Scam

I am a BofA checking account customer, but also have a promotional rate on a BofA visa card that I recently transferred most of my debt to. I made two online payments in the amount of $250 each to this BofA credit card: one on 2/29 and another on 3/3. Payment was due on 3/3.

Normally BofA posts payments to its own accounts on the same day that the online payment is made (and their online "deliver by" date assured me that it would), but my 2/29 payment did not post until 3/4. Suspicously, that is one day after the due date, so clearly BofA delayed the payment in order to assess late fees and jack up the interest on my promotional rate. To test my theory, I submitted one more payment on 3/6 in the amount of $1, and sure enough it posted on the same day.

Company: Bank Of America
Country: USA
State: California
City: San Francisco
Site: bofa.com

  <     >