Bank Of America
Interest Rate Raised To 26 Percent And Credit Limits Cut After Takeover

*Warning* Please read about my experience with Bank of America and think twice before conducting any business with this bank. It all started when they bought my credit card from MB Financial Bank, and I thought oh good now I can just pay my balance with Bank of America. Then, two months later I received a letter than my interest rate was increasing from 11.99%, as if that wasn't high already, to over 26% the maximum usury rate in Illinois. I called to find out why this was happening to me, because I pay all my bills on time for years and pay more than the monthly minimum. By calling in and complaining, not only did this card stay the same, the Representative looked for my other two accounts with Bank of America and executed an available balance cut on those accounts too. Recently, they bought my Upromise card too, so they now own all 3 of my credit cards. The problem here is that they now own all my credit... They can do whatever they want and no one can stop them. So I've been paying my debts down for months now, not using any of the credit cards living with the fact that I'm paying 26% interest. Lastly, the real slap in face came just yesterday, which is why I decided to spread the word about this terrible bank, when I paid $1000 to pay down one of my cards... Guess what? Once again, as soon as the payment was applied they cut my available credit which hurts my credit score overall. Why would a bank do this? Because they don't care and no one can stop them! Be careful if you are going to do business with them. I'm done with Bank of America for the rest of my life. And oh yeah, My four kids will never do business with them either.

Company: Bank Of America
Country: USA
State: North Carolina
City: Charlotte
Address: 100 North Tryon Street

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