Bank of America
Interest Rate Nearly Doubled Despite Paying Above Minimum Each Month

After receiving our VISA card May we were encouraged to use it to enhance our new business of which we did; remodeling, new fixtures and such. After paying $50 to $100 over and above the required minimum payment and never paying late or missing a payment we were informed that our interest rate is to almost double. The excuse from VISA customer service was that we are not paying off the debt aggressively enough. I asked if that was the case why would they not require a larger monthly payment?

They said that would not help the situation. I asked what amount of payment would be satisfactory to avoid this shake down and she said she was not in a position to tell me the required amount. So Bank of America VISA is basically extorting a larger interest rate out of us because we have been paying our debt plus some and have made timely payments. If this is not resolved we will pay off the debt in full and transfer all of our corporate accounts out of this mafioso organization. What a disgrace these people are.

Company: Bank of America
Country: USA
Site: bankofamerica.com

  <     >