I have a Bank of America Business card for about 2 years and they signed me up with a low interest rate. Since that time unable to get a business loan I was using the card while building a spec home and low and behold I noticed my interest rate jumped to 26%.
I was fuming mad and called customer service about the issue and they explained to me that periodictly they look at you credit card activity on OTHER cards and if they see activity they can raise your interest rate.
This is criminal and anyone who has a Bank of America Card should beware of this practice. I also had another card from Bank of America and wanted to at least consolidate the 2 into one payment to ease the financial burden until I sell the house. They would not do that. I also asked them to do a interest only loan for a few months and they would not do that either. Needless to say I have sold the house and it will close in 3 weeks and I wall pay Bank of America off and never bank there again. Beware of Bank of America.
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