I never applied for a Bank of America credit card. November I was looking at my credit and discovered I had this card with this huge limit on it (huge for me, $6,400). At the time I had just started living on my own and had no clue about credit or credit cards. So I called Bank of America and told them I needed a new card. They sent it right away. So I started using the card.
March I received a letter in the mail that my account was being closed due to running a credit check on me. They felt that I wasn't good enough to keep using their card. Even though I had been making my monthly payments on time and had never been late on one payment. When I first started using the card I was doing so well at making huge payments that I was able to get my interest lowered to 7.9%. So I have continued to pay off this account and of coarse I racked up the card especially since I still had 2 weeks to use it after I was informed the account was being closed.
2 weeks ago on October 8th I logged on to their website to set up my payment due Oct. 11th. Not sure what happened but Oct. 15th I had noticed that my payment had not cleared from my checking account. So I log on to BOA to find out that the payment has not been made and shows no sign of me making the payment. I made the payment immediately and contacted BOA to see about getting the late fee removed. They were greatful enough to remove the late fee. So I'm like great everything is resolved, yeah right.
Oct. 19th I received my email letting me know my statement is ready to view and my next months payment is $160. My payments are normally $86/month. I contacted BOA to find that my apr was raised to 15.99% due to my late payment. BOA will not budge I argued with Senior Analyst, Jay forever about this. All he could say was I needed to contact debt management. I do not need my debt consolidated I only need my apr to go back to 7.9% so I can afford the payments and so BOA doesn't get 80 bucks/month from me in finance charges. Before the apr increase they were only getting around $35/month in finance charges. I refuse to pay this now. I was working on paying this off even though the account is closed and this was the only time I was late. BOA won't budge on this and I don't know what to do.
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