You can close the account and continue paying on it, it suspends all privelages, but if you can get a low interest balance transfer, that will be the best, and I would write the company a letter in that case, stating, I am closing this account and transferring my entire balance to X company because they treat their customers fairly and do not try to rip them off.
Thank you for your suggestion, Thomas & Tracy, about closing the account and getting a lower interest rate, and transferring the balance. I found a few cards that had 0 % for a year. That would be such a saving, I’ll apply for one of those. The idea of writing a letter too, is a good suggestion, I wouldn’t have thought of that. Now on to writting to my Congressman with my complaint about B of A raising my intrest rate.
The BoA victimized me with its creative book-dating over transaction-dating. As a result of their creative & inventive book-dating, I had to pay 3 overdues!!, each at $35.And there is no argument with them! They just said that it wasn’t the first time I did it.
Well … the fact is it was not the first time they practiced their creative book-dating to maximalize the overdue!
As always, whining is useless. So, the moral in here is: shop for a new checking account every 6 months! Else, once you get red like that after their semi-criminal creativity, talk to them nicely so that they dont charge you … then just close your checking.