I have had a Fleet Credit card for years with a fixed rate of 7.99%. When Bank of America took over they raised my interest rate and changed the terms to "variable" without notifying me.
When I noticed the rate on my bill, I contacted Fleet and was told of the change in ownership, but they denied a change in terms. I was told on Sept. 20, that I had always had a variable rate, but that rates had remained low until now. I disagreed and told her I would close my account.
The rep then promised to give me an introductory interest rate for one year. On Oct. 8, I called and was told no change in rate had been made and also admitted there had, in fact, been a change in terms.
Obviously, I will close this account and feel I can't do anything except vent my unhappiness with such unethical business practices.
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