I am reporting Bank of America because I received a letter stating that my index and actual interest rate was going to be increased from 11.99% which is already high to 22.90% due to the review of my credit. I have never pay any of my credit cards, accounts, or loans late! I have several accounts with Bank of America and lately due to the economy crisis people like me are being affected by concumers with bad credit and people that do not make payments on time! Anyway I told the customer service that I had never paid this card late and that my credit was showing high balances due to the economy crisis. All lenders are cutting the lines of credit for thos that still have availible limits. Therefore, the credits are being affected because is showing that we just owed the balance we currently had!
I am really dissapointed at the whole situation... I asked the agent to please try to help me out finding a solution to this matter. I have a friend of mine that is over the limit balance, pays late and yet this person gets it good! I don't understand I asked her why if the government had lower their rates they have been raising them on the consumers? That is not reasonable... I work as a Loan processor in the Real Estate business I know how hard the situation is towards financing, but I believe that no lenders are currently helping consumers.
They are getting the bailout money to save their end but yet they keep harming the consumers. We all have to do something about this try to get together to complaint because all the money used to bailout all these companies is coming from our pockets yet instead of helping us we are ending up paying more! At the end of my conversation with the agent I asked if I could get the credit card mitigation department to try to find out a reasonable solution in which I could still pay the debt at a lower interest rate or the same I have and for Bank of America to get paid as well, she told me that she couldn't give me such number. I told her that I wanted to opt out the account to try to save my credit and pay the debt, and she told me that it wasn't an option to me! See they don't help consumers all they want is for the people to pay, pay, and pay more! Meanwhile they keep inflating their accounts with money that come from our pockets. This is not reasonable and is painful that instead of helping the people to come out with a solution they throw you to take unecessary steps as not paying or filing bankruptcy instead of helping. Please let me know what to do or if you can help me find a solution to this matter please advice, thanks.
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