Bank of America
Outrageous interest rate hike

Business & Finance

I have been a customer of MBNA since 1994 which always had reasonable rates 8% to 9% since Bank of America bought them the rates have been consistently going up requiring numerous phone calls to keep them reasonable. On my last statement it was 12.99% bad enough then I get the statement this month and it up to 27.99!!! I understand this is happening to many, many customers. I believe they are doing this to customers that they know pay on time in order to recoupe loses for their bad business deal ie: Countrywide purchase and bad house loans in general. This has got to be illegal. Please lawyers advise. THANKS! B of A make up any lame reason for increase even if you pay on time and more than minimum.


Company: Bank of America
Country: USA
State: Florida
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