In January 09 I called Bank of America to find out some information regarding a personal loan. Me and my husband had a zero interset credit card ready to expire. We had a loan from our prior bank before they merged with Bank of America, I thought we were doing the right thing. We wanted to borror $8000.00. I was told we would have a interest rate of 9 percernt. They needed more information, so my husband called them back. He too was informed of the rate at 9 percent.
A few days later we recieved the funds attached to our on line banking. Two weeks later we received the bad news. No one informed us that each draw would have a fee as well as the interest rate at 20.99!!! We have very good credit. When we called to infrom them that this is not what was told to us, the gentlemen stated we were. I told him why the blank would a 20.99 interest rate when the credit card would be at 12 percent rate!!! We found out there is nothing we can do, no one would help us out, each month we pay our bills we are never late. We cant borror off our 401 retirment plan do to we are in no hardship. I think this is dead wrong, and of course our conversation was not taped!
Shame on Bank of America. Shame on CEO of this bank, they are no differnt then used car sales men. What ever happen to the american dream were your credit rating ment somthing. I would like to Thank Bank Of America for taking the extra money we dont have each month to pay over 20 percent interest charge, And I hope you sleep good at nite!!!
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