I have a US Airways Visa through Bank of America. I am one of the lucky ones who hasn't had any problems with BOA until now. I received a letter today that outlines the transfer of my BOA Visa to Barclays Bank. I guess I wasn't really surprised when, while reading the fine print, I notice they're going to increase my rate from 12.9 to 29.9%!!!
Although I always carry a balance, I pay on time, pay more than the minimum, and don't exceed my limit. Yet, like a lot of others on this forum, I'm about to get ripped off. They give me the option of rejecting the change in APR, but that means closing the card and losing the advantage of having an established account on my credit report. I can't wait for the economy to turn around and put consumers back in control of things.
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