I never had a problem with checking at BOA

I never had a problem with checking at BOA and I had an account with them for over 30 years. Long before their name was Bank of America. I am not surprised that some people have problems with them or any other financial institution. They all seem to be playing the “got cha” game and anyone with an account needs to be aware and on top of things all the time. It’s much easier to do that now with online banking where you can check frequently.

The only problem I had with BOA besides their pitiful slow customer service when calling them was a savings account I once had with them. I closed it and thought everything was fine. I had signed up for their keep the change program. Several weeks later I get a statement in the mail that I had 27 cents deposited in my account but I also had a bill for a monthly service fee because I was supposed to keep a certain balance in order for the account to be free. So my 27 cent was dedudted form the service fee.

I called them and explained I had closed this savings account. I was told the account had been reopened so they could put my 27 cents in it ! I told them I gave nobody permission to reopen an account with my name on it. After speaking with three different reps I finally got one to say they would close the account and send me a check for 27 cents which they did. That’s what they should have done in the first place since the account was closed. I haven’t heard from them in mo0nths so I hope the account is closed for good this time and nobody at BOA is going to reopen it. I don’t want to make another phone and waste more of my time.

I don’t know about changing a checking account every six months. Find someplace you like and keep on track of what is going on. If you can get into a credit union or are eligible to bank at USAA you will have the best chance of banking with someone you like and will stay with.

I wonder if this might work. It might not work, but it may make you feel better. Every time
you pay a bill, include a note that says something like “I am dismayed, alarmed and disappointed that your company charges such usurious rates. I have been paying off my debt and it never seems to go down as you continue to charge increasingly growing usurious interest rates. Your policies should be investigated for criminality.”

How about if you put something like that, and make sure you include the words, “you charge usurious rates” several times in your letter, every time you pay a bill?

I did that to a creditor to whom I paid for 2 years in a row and the balance would not go down. They lowered the rate by 8% and I was able to pay it off. I never had to call them. It might not work, but it may make you feel better.

I agree with you about Bank of America

I agree with you about Bank of America. I, too, have been paying off my Visa bill with them. Paying extra each month. A few days ago, I looked to see if my new statement was on the internet. Almost fell out of my chair to see that my payment went up $60 dollars, all of it finance charges. They doubled my finance interest rate. I am so furious. I have not missed a payment, ever, nor even waited until the due date, I pay it at least two weeks before it is due, each and every month.

I phoned them and complained. There reason was that I have high balances. What kind of reason is that, how can I ever make any headway if the interest rate just gets doubled. I have been managing, but now with this $60 jump in the monthly payment, it will be tough. Looks like there is not a darn thing I can do about it to get them to put it back to what it was on the last statement. I even called a second time, both times on the phone for an hour. They wouldn’t budge, I wasn’t even asking for a lower finance rate, just back to what it has been for the past three years.

Why is it that they can give a very low rate to a new customer, but here they have customers who pay their bills every month and on time and they treat us like dirt.

There should be something that can be done about this, but can’t figure out what. I told both guys I talked with that their logic of raising the interest rate, because ( and only because ) I have high balances made absolutely no sense. Why couldn’t they be helpful and just leave it as it was, I was paying $25 a month above the minium, now that will all go for more finance charges.

Personally, I would close the account, and pay it off, then you know for sure that you cannot charge anymore. Also, I would look for a card that offers a low % rate to balance transfer, and tell BofA where to stick their card.

Also, CALL YOUR CONGRESSMAN!! Not that he/she can get it lowered or anything, but they need to be well aware of situations like yours and many others just like you. The CC companies have just “run amuck” (sp) with this type of thing. Seems Congress may be the only ones willing to get this stuff stopped.