a great big FUCK YOU to Bank of America - GoFuckYourself.com

96ukssob · 08-20-2009, 01:16 PM

I've had a credit card with BofA as well as three accounts (checking, savings, business) for about five years now. I get promotions from them pretty often for new cards or do a balance transfer, but I decline since I have a pretty low interest rate with them, like 8% or so.

Until today...

I get a letter in the mail from them last week saying that they have reviewed my "status" and have decided to close my credit card account. No big deal, I never use the card and only did a balance transfer and used it for some expenses last year. Still no clue what would of caused my "status" to change to anything even negative.

I go on yesterday to pay my bill and notice its a LOT more than it was before. Sure enough those mother fuckers raised my rate from 8% to 29.95%. Im furious and I call the bank... after over an hour on the phone with them, there is nothing they can do since the account is now closed. I can't even open a new account to do a balance transfer because you are not allowed to do that between banks. DAMNIT!

You have to be fucking kidding me. They can just close an account and jack up the interest with no notice? After some digging around, seems like the reason is because of all the new credit card rules coming out today and in November, banks are trying to rape as much as they can before they have strict guidelines to follow.

So, if you have a BofA card with a balance, be careful

sexdatesj · 08-20-2009, 01:17 PM

ALL BANKS ARE DOING THiS SHIT!

If you dont use them, they close em
If your payments are barely late, they close em
If your balance is too high, they close em.

I have had alot of credit issues from all of this shit.

Elli · 08-20-2009, 01:20 PM

Quote:

Originally Posted by sexdatesj

ALL BANKS ARE DOING THiS SHIT!

If you dont use them, they close em
If your payments are barely late, they close em
If your balance is too high, they close em.

I have had alot of credit issues from all of this shit.

Aroo? That's no good. I have a handful of cards all with zero balance. I use them once, then pay them right away. They'll close accounts like that? Won't that kill off my FICO?

ronaldo · 08-20-2009, 01:24 PM

I'd call that borderline fraud, but there's really nothing borderline about it.

ronaldo · 08-20-2009, 01:26 PM

Ooops. UNLESS it was a "limited period" low interest deal. Still, cc's are nothing if not shady.

CYF · 08-20-2009, 01:27 PM

My main card with Chase just went up from 7% to 10.25% interest.

My sears card just went from 20% to 25%, but I only use that for deals on tools at Sears.

Pretty fucking shitty man, no wonder the gov is going to regulate 'em. They've been raping consumers for long enough now.

baddog · 08-20-2009, 01:29 PM

Quote:

Originally Posted by Elli

Aroo? That's no good. I have a handful of cards all with zero balance. I use them once, then pay them right away. They'll close accounts like that? Won't that kill off my FICO?

Just because you read it on GFY does not make it true.

SleazyDream · 08-20-2009, 01:29 PM

wow

wow

Honez · 08-20-2009, 01:32 PM

Quote:

Originally Posted by sexdatesj

ALL BANKS ARE DOING THiS SHIT!

If you dont use them, they close em
If your payments are barely late, they close em
If your balance is too high, they close em.

I have had alot of credit issues from all of this shit.

Yep. I just had one closed because I was one, count it ONE day late with a payment (in 5 years) and I was over my limit by $13 one month. Did I mention that they charged me $15 a month for a service fee? That's what put me over the freaking limit. The messed up thing is they had just raised my limit 2 weeks before I was one day late. That was all it took. Poof. Gone.

Machete_ · 08-20-2009, 01:35 PM

why do people borrow money at 20%+ ?

PornMD · 08-20-2009, 01:41 PM

Quote:

Originally Posted by ronaldo

Ooops. UNLESS it was a "limited period" low interest deal. Still, cc's are nothing if not shady.

I'm pretty sure both of my cards (Capital One and BofA) were supposed to be permanent fixed interests but both have slyly risen in the past year or two...naturally when I least want it to because I've run up the BofA, though for what its worth, I can be thankful they raised my limit every time I asked in the past because I've needed every inch of it. Still waiting for them to do something REALLY shitty like lower my limit all of a sudden and then say "oh hey, you're over the limit, more fees!"

ReGGs · 08-20-2009, 01:42 PM

What more could you expect from the McDonalds of banks.(Eddie Griffith)

SonOfaBeach · 08-20-2009, 02:01 PM

Quote:

Originally Posted by bossku69

They can just close an account and jack up the interest with no notice? After some digging around, seems like the reason is because of all the new credit card rules coming out today and in November, banks are trying to rape as much as they can before they have strict guidelines to follow.

Actually - I dunno... I think you *may* still be able to fight on this one... (maybe not). Depends on how long ago they took the action. The new rules that went into effect today state that if they are going to raise your rate YOU have the option to opt out and close the account. AND - if you do, you are allowed to keep your old rate.

Definitely shenanigans, but if they've already closed the account on you, you have nothing to lose by fighting them.

CNN Money

(Just noticed you got the letter last week... but had already typed this up - so leaving it for anyone else getting raped after today. I'd still try to fight though)

who · 08-20-2009, 02:03 PM

Remember Boneprone and his BoA drama.... ?

BestXXXPorn · 08-20-2009, 02:04 PM

I had a CC through WaMu which Chase acquired... Google for Chase cancelled my WaMu Card... See how many results you get...

So Chase gets bailout money to take on WaMu customers... then they raise all the rates on the cards and cancel them all... what?! I have never been late on a payment even once on any card. I have stellar credit... and this is what I get? I also have my auto loan through them, I'll be refinancing that with someone who treats their customers with more respect...

Porn Grounds · 08-20-2009, 02:07 PM

They did this to like 100k card members last year I think. They just felt the need to raise the rate to the max rate for no reason. It was pretty bad and there was nothing that people could do since it is in your contract. Rate my change without notice....haha It really fucking sucks.

They are going back to basics to make money...

LiveDose · 08-20-2009, 02:17 PM

I closed two BA CC's before they pulled something like this on me. My worst nightmare would be to try and use a card during a business meal and see it decline...

Semi-Retired-Dave · 08-20-2009, 02:17 PM

Fuck them back, go buy their stocks. Then sell it in a year. You will be way ahead of yourself.

SuzzyQ · 08-20-2009, 02:19 PM

Citi Bank is pulling that shit also. Hubby and I have been with Citi bank for over 15 years. We have never missed a payment. Never been late with a payment. Nothing.

Out of the fuckin blue, those mother fuckers raised our interest rates from 5.9% to 18%. For no fuckin reason!. The dumb bitch on the phone said they did this to ALL the card holders. Everyone. No matter what your history is. We are paying rates now that they charge to the people who dont pay on, who are fuckin clueless on how to run their finances.

A BIG fuck you goes to Citi bank also.

campimp · 08-20-2009, 02:25 PM

one reason why companies have been raising interest rates lately on anyone they can

C-Luv · 08-20-2009, 02:26 PM

That sucks! My Sister works for BOA and hate it there.

ToplistBlog_Com · 08-20-2009, 02:32 PM

BofA did this to me too, they suck HARD.

Elli · 08-20-2009, 02:37 PM

http://www.dailyfinance.com/2009/08/...dit-card-laws/

Starting today, credit card issuers must mail bills 21 days -- rather than 14 days -- in advance and they must give customers 45 days notice before raising interest rates. Before this provision in the Credit Card Accountability Responsibility and Disclosure Act (CARD) took effect, credit card companies only had to give a 15-day notice of a rate increase.

In the past, by the time cardholders learned of a rate increase, there often wasn't much time to protest. Even if they chose to do so, they only had two options: paying off the account or locking in the current rate by agreeing to close the account. For many struggling to meet bills after a job loss or other emergency, neither of these options were viable.

Another change has been in minimum payments. JP Morgan Chase just changed the rules on people carrying balances of $5,000 or more. Rather than being required to pay 2.5 percent of their balances each month, cardholders must now pay five percent.

Tjeezers · 08-20-2009, 02:38 PM

Quote:

Originally Posted by KrisH

why do people borrow money at 20%+ ?

i wonder the same
even for 8%, why spend money not yours?
credit card users are used as milk cows for banks.

will76 · 08-20-2009, 02:40 PM

Quote:

Originally Posted by bossku69

I've had a credit card with BofA as well as three accounts (checking, savings, business) for about five years now. I get promotions from them pretty often for new cards or do a balance transfer, but I decline since I have a pretty low interest rate with them, like 8% or so.

Until today...

I get a letter in the mail from them last week saying that they have reviewed my "status" and have decided to close my credit card account. No big deal, I never use the card and only did a balance transfer and used it for some expenses last year. Still no clue what would of caused my "status" to change to anything even negative.

I go on yesterday to pay my bill and notice its a LOT more than it was before. Sure enough those mother fuckers raised my rate from 8% to 29.95%. Im furious and I call the bank... after over an hour on the phone with them, there is nothing they can do since the account is now closed. I can't even open a new account to do a balance transfer because you are not allowed to do that between banks. DAMNIT!

You have to be fucking kidding me. They can just close an account and jack up the interest with no notice? After some digging around, seems like the reason is because of all the new credit card rules coming out today and in November, banks are trying to rape as much as they can before they have strict guidelines to follow.

So, if you have a BofA card with a balance, be careful

That sucks, I try to do everything off of my check card to avoid even having to deal with the credit card companies in regards to revolving debt, percentage rates, etc. Your type of situation has happened to me in various ways with various other companies where they try to pull funny shit. I contacted the BBB and the attorney general, they will usually change their tone after one of those 2 companies contact them.

Can you pay it off? Home equity line of credit (if you own your home)? if you are truely stuck and they cant fix it there has to be some other place you can get the money from at a lower % rate to pay it off.

08-20-2009, 01:16 PM	#1
96ukssob So Fucking Banananananas Industry Role: Join Date: Mar 2003 Location: If I was in your ass you'd know it Posts: 12,991	a great big FUCK YOU to Bank of America I've had a credit card with BofA as well as three accounts (checking, savings, business) for about five years now. I get promotions from them pretty often for new cards or do a balance transfer, but I decline since I have a pretty low interest rate with them, like 8% or so. Until today... I get a letter in the mail from them last week saying that they have reviewed my "status" and have decided to close my credit card account. No big deal, I never use the card and only did a balance transfer and used it for some expenses last year. Still no clue what would of caused my "status" to change to anything even negative. I go on yesterday to pay my bill and notice its a LOT more than it was before. Sure enough those mother fuckers raised my rate from 8% to 29.95%. Im furious and I call the bank... after over an hour on the phone with them, there is nothing they can do since the account is now closed. I can't even open a new account to do a balance transfer because you are not allowed to do that between banks. DAMNIT! You have to be fucking kidding me. They can just close an account and jack up the interest with no notice? After some digging around, seems like the reason is because of all the new credit card rules coming out today and in November, banks are trying to rape as much as they can before they have strict guidelines to follow. So, if you have a BofA card with a balance, be careful __________________ Email: Clicky on Me

08-20-2009, 01:17 PM	#2
sexdatesj Confirmed User Join Date: Jun 2009 Posts: 1,078	ALL BANKS ARE DOING THiS SHIT! If you dont use them, they close em If your payments are barely late, they close em If your balance is too high, they close em. I have had alot of credit issues from all of this shit. __________________ http://www.SexDateCash.com up to $90 Per Signup ~ WE USE NATS ~ 18 Niche Dating Sites!

08-20-2009, 01:27 PM	#6
CYF Coupon Guru Industry Role: Join Date: Mar 2009 Location: Minneapolis Posts: 10,973	My main card with Chase just went up from 7% to 10.25% interest. My sears card just went from 20% to 25%, but I only use that for deals on tools at Sears. Pretty fucking shitty man, no wonder the gov is going to regulate 'em. They've been raping consumers for long enough now. __________________ Webmaster Coupons Coupons and discounts for hosting, domains, SSL Certs, and more! AmeriNOC Coupons \| Certified Hosting Coupons \| Hosting Coupons \| Domain Name Coupons

08-20-2009, 01:29 PM	#8
SleazyDream I'm here for SPORT Industry Role: Join Date: Jul 2001 Location: Phone # (401) 285-0696 Posts: 41,470	wow wow __________________ This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog.

08-20-2009, 02:04 PM	#15
BestXXXPorn Confirmed User Join Date: Jun 2009 Location: Asheville, NC Posts: 2,277	I had a CC through WaMu which Chase acquired... Google for Chase cancelled my WaMu Card... See how many results you get... So Chase gets bailout money to take on WaMu customers... then they raise all the rates on the cards and cancel them all... what?! I have never been late on a payment even once on any card. I have stellar credit... and this is what I get? I also have my auto loan through them, I'll be refinancing that with someone who treats their customers with more respect... __________________ ICQ: 258-202-811 \| Email: eric{at}bestxxxporn.com

08-20-2009, 01:24 PM	#4
ronaldo Confirmed User Join Date: Jan 2002 Location: ICQ#: 272000271 Posts: 5,475	I'd call that borderline fraud, but there's really nothing borderline about it.

08-20-2009, 01:26 PM	#5
ronaldo Confirmed User Join Date: Jan 2002 Location: ICQ#: 272000271 Posts: 5,475	Ooops. UNLESS it was a "limited period" low interest deal. Still, cc's are nothing if not shady.

08-20-2009, 01:35 PM	#10
Machete_ WINNING! Industry Role: Join Date: Oct 2002 Posts: 14,579	why do people borrow money at 20%+ ?

08-20-2009, 01:42 PM	#12
ReGGs Confirmed User Join Date: Apr 2006 Location: SoFla Posts: 248	What more could you expect from the McDonalds of banks.(Eddie Griffith)

08-20-2009, 02:03 PM	#14
who So Fucking Banned Join Date: Aug 2003 Location: ICQ #23642053 Posts: 19,593	Remember Boneprone and his BoA drama.... ?

08-20-2009, 02:07 PM	#16
Porn Grounds Confirmed User Join Date: May 2009 Location: Boston Posts: 409	They did this to like 100k card members last year I think. They just felt the need to raise the rate to the max rate for no reason. It was pretty bad and there was nothing that people could do since it is in your contract. Rate my change without notice....haha It really fucking sucks. They are going back to basics to make money... __________________ Welcome To The Porn Grounds Come have some fun? ICQ: 587 056 728

08-20-2009, 02:17 PM	#17
LiveDose Show Yer Tits! Industry Role: Join Date: Feb 2002 Location: Somewhere Out there... Posts: 25,792	I closed two BA CC's before they pulled something like this on me. My worst nightmare would be to try and use a card during a business meal and see it decline... __________________ Scammer Alert: acer19 acer [email protected] [email protected] Money stolen using PayPal

08-20-2009, 02:17 PM	#18
Semi-Retired-Dave Too lazy to set a custom title Join Date: Apr 2004 Location: LA Posts: 11,190	Fuck them back, go buy their stocks. Then sell it in a year. You will be way ahead of yourself. __________________ Support a Good Cause

08-20-2009, 02:19 PM	#19
SuzzyQ Confirmed User Industry Role: Join Date: Dec 2006 Location: Along the shore. Posts: 1,557	Citi Bank is pulling that shit also. Hubby and I have been with Citi bank for over 15 years. We have never missed a payment. Never been late with a payment. Nothing. Out of the fuckin blue, those mother fuckers raised our interest rates from 5.9% to 18%. For no fuckin reason!. The dumb bitch on the phone said they did this to ALL the card holders. Everyone. No matter what your history is. We are paying rates now that they charge to the people who dont pay on, who are fuckin clueless on how to run their finances. A BIG fuck you goes to Citi bank also.

08-20-2009, 02:25 PM	#20
campimp Confirmed User Industry Role: Join Date: Jan 2007 Location: Gamehendge Posts: 1,336	one reason why companies have been raising interest rates lately on anyone they can Last edited by campimp; 08-20-2009 at 02:28 PM..

08-20-2009, 02:26 PM	#21
C-Luv Confirmed User Join Date: May 2008 Location: Phoenix, AZ Posts: 3,025	That sucks! My Sister works for BOA and hate it there. __________________ C-Luv [email protected] ICQ- 461280620 - Skype- C-luvi

08-20-2009, 02:32 PM	#22
ToplistBlog_Com So Fucking Banned Join Date: Jul 2006 Location: Queens NY Posts: 2,065	BofA did this to me too, they suck HARD.

08-20-2009, 02:37 PM	#23
Elli Reach for those stars! Industry Role: Join Date: Apr 2003 Location: Vancouver, BC Posts: 17,991	http://www.dailyfinance.com/2009/08/...dit-card-laws/ Starting today, credit card issuers must mail bills 21 days -- rather than 14 days -- in advance and they must give customers 45 days notice before raising interest rates. Before this provision in the Credit Card Accountability Responsibility and Disclosure Act (CARD) took effect, credit card companies only had to give a 15-day notice of a rate increase. In the past, by the time cardholders learned of a rate increase, there often wasn't much time to protest. Even if they chose to do so, they only had two options: paying off the account or locking in the current rate by agreeing to close the account. For many struggling to meet bills after a job loss or other emergency, neither of these options were viable. Another change has been in minimum payments. JP Morgan Chase just changed the rules on people carrying balances of $5,000 or more. Rather than being required to pay 2.5 percent of their balances each month, cardholders must now pay five percent. __________________ Make More Money with Cams and Dating at FFN.com! email: [email protected]