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    #31
    Originally posted by poundwise View Post
    Anyone with a BOA savings account (Keep the Change anyone?) is getting screwed; whether they know it or not.

    Hi, I'm just wondering if you can elaborate on this. Earlier this week I read an article at a website linked on this forum (can't remember name now) singing the praises of the Keep the Change program. I immiediately proceeded to enroll myself and convinced my sister and best friend to do so as well. Please let me know why this program is no good so I can cancel it. Thanks!

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      #32
      Originally posted by Jayscott View Post
      I recently got married, and my wife has a Bank of America Visa. There is about $8000 worth of debt on the card. They raised the interest rates from 10.99 to 26.99 out of nowhere. And how they did it is absolutly laughable. First they cut her available line of credit by $1000. That caused her credit score to go down, then they raised the interest. IT WAS A PROBLEM THAT THEY CREATED! She did nothing to cause her score to go down. No missed payments, NOTHING. THEY DID EVERYTHING. And they have been doing this to people across the nation. Is there anything we can do?

      I recently got laid off and finding work has been difficult, if not impossible in this economic enviorment. So we have very little money as unemployment copensation only goes so far. We have not missed a single payment, but money is running out. One suggestion has been to just pay off the balance, we have nothing to pay the balance off with.

      The payment is now doubled. It seems to me that the banks should be trying to help the situation with this economic crisis that we are in. Not make it worse! What was the bail out package that the financial industry got? Because it seems to me that that $700 billion they got went straight to the pockets of the already mega wealthy bank owners, and shareholders. And even though they got "bailed out" from their horrific business practices, they are still not passing any help on to you and me!

      One more thing, the fed lowered the interest rates to the lowest they have been in a very long time, to spur economic growth by giving more money to the banks to loan. Why are the banks not loaning money then? Why is credit so hard to come by? They have been bailed out and it cost so little for them to loan. The dollar is getting destoyed and these banks are srewing people! It seems there is more going on behind the scene.
      I remember not long ago hearing that banks were going to raise minimum payments to make more money and lower limits to free up capital to lend to other people. They did this to my father, lowered him limit and then charged him over the limit fees. The same bank raised my minimum but then cut it in half, doubled my limit and lowered my annual fee. It makes sence but can be very bad for anyone who carries a large balance on there cards. I try not to carry any and if I have no other choice I refuse to go so high that I cant pay it off in 2 months. No need to give them more money than you owe them.

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        #33
        I just tried to do a balance transfer (from a Chase card to BOA) last week, nothing big, but it would've paid off Chase. I had plenty of available credit on the BOA card, never missed a payment, but they declined the transfer. (It was for just over $1,000). They said I had too much outstanding debt, or something like that. They didn't care that I've never missed a payment, and have always paid back more than the minimum. Anyway, about 3 days later, I get 2 letters from BOA saying that they're lowering my credit limits on my 2 BOA cards. Can't wait to get these guys gone and tell them to shove it.

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          #34
          I also keep getting balance transfer check offers from BOA. So far I have shredded all the offers yet occasionally I will let it rest a few days and then consider again and then shred it. It is getting hard to resist those. One day in a weak moment I may go for one of them. The best thing is to shred those papers when you get those checks so you won't be tempted to use them. Just do what is best for you, whatever that is.

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            #35
            Bank of America Walkout May 15 2009

            I agree and was not the least bit surprised by the comments in this forum. We have to do something besides complain so our collective voice will be heard loud and clear. Without a concerted call to action these complaints fall on deaf ears. My husband Roy DeYoung posted a video on YouTube and has blogged about joinging together and pulling our accounts out of B of A. It's a great idea and it will be an effective way of getting our message accross. I hope you can check him out, it will be interesting to see what the outcome is.

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              #36
              My dh has a bank of America credit card and they sent him a letter stating that they where going to jack up his interest if he didn't sent out a letter stating not to.

              Comment


                #37
                Maybe they should just be called "Boa constrictor"!

                All joking aside it sure is not funny the little tricks they are pulling.

                Banks are now doing more of these things because they can and they need to make more money. They obviously are not at all concerned for loyal customers either.

                The class action lawsuit does not sound like a bad idea - or contacting your congressperson.

                This type of thing is happening to loyal, paying on time, good credit people because they know they are concerned about their payments and credit ratings and tend to comply with higher interest rates and other tricks.

                Also: Kork13 I believe it was regarding your mortgage:

                If BOA picked up your mortgage from another lender check out Clark Howard's website - he has a place you can go to match your mortgage when it started to what it should currently be - seems lenders very often 'lose' payments on your mortgage and most people never look or notice. Just another clever, hardly noticeable trick they have to further fleece people.

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                  #38
                  I'm on your side on this one, but I have to say that BofA is really good at notifying me of interest rate changes and credit fluxs through snail mail. I get alot of notifications every year when they do decide to change their policies. I know its tedious to read all the annoying "spam" mail that they send you but it's for a good reason. Especially someone in your current state who can't afford to get screwed around with, its good to pay attention to their notices when they issue them.

                  Bank of America is one of the largest national banks, I highly doubt they are out to mess with anyone. I think that in our tough financial times, they are going through lots of changes and as consumers, we have to be aware of them in order to be protected.

                  Just as advice, when you are able to afford the balance, just pay it off and never let your wife get into that hole again. The problem with our society is that they lure us with too much credit offers. We have to be strong enough to decline these offers.

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                    #39
                    AS one of the nation's hugest banks, BOFA is not particularly looking out for the little guy. Big banks really aren't the best for our country. BOFA also bought out MBNA, so now, BOFA has holdings in a huge chunk of the nation's cc's.

                    I, too, have received via snailmail, interest rate changes that do not come in an envelope that looks any different from their regular promotional type letters. They have given me default interest rates where I have had to stop using my card in order to prevent 27% + interest rates, despite always paying on time.

                    I had a promotional cc with bofa that after 1 year went to 12%. When the promotion was over, they used the increase in their own card to justify increasing the interest rates on my other cards to the default level.

                    I really do not like bofa, and find them to be severely incompassionate.

                    Comment


                      #40
                      I closed my cc account with BOA because I had two credit card payments due in one month. I've had this particular card for about 7 years and never had this happen.

                      Comment


                        #41
                        The best thing to do when you're trying to get out debt is to get rich


                        Originally posted by Jayscott View Post
                        I recently got married, and my wife has a Bank of America Visa. There is about $8000 worth of debt on the card. They raised the interest rates from 10.99 to 26.99 out of nowhere. And how they did it is absolutly laughable. First they cut her available line of credit by $1000. That caused her credit score to go down, then they raised the interest. IT WAS A PROBLEM THAT THEY CREATED! She did nothing to cause her score to go down. No missed payments, NOTHING. THEY DID EVERYTHING. And they have been doing this to people across the nation. Is there anything we can do?

                        I recently got laid off and finding work has been difficult, if not impossible in this economic enviorment. So we have very little money as unemployment copensation only goes so far. We have not missed a single payment, but money is running out. One suggestion has been to just pay off the balance, we have nothing to pay the balance off with.

                        The payment is now doubled. It seems to me that the banks should be trying to help the situation with this economic crisis that we are in. Not make it worse! What was the bail out package that the financial industry got? Because it seems to me that that $700 billion they got went straight to the pockets of the already mega wealthy bank owners, and shareholders. And even though they got "bailed out" from their horrific business practices, they are still not passing any help on to you and me!

                        One more thing, the fed lowered the interest rates to the lowest they have been in a very long time, to spur economic growth by giving more money to the banks to loan. Why are the banks not loaning money then? Why is credit so hard to come by? They have been bailed out and it cost so little for them to loan. The dollar is getting destoyed and these banks are srewing people! It seems there is more going on behind the scene.

                        Comment


                          #42
                          screwed by Bof A

                          Sounds like we should form a club. They allowed a unauthorize user to charge $8600.00 dollars on my account. I had a $500.00 alert set to be notified of any purchaser over 500.00. Guess what no alert. They told me just because you removed someone from your account doesn't mean they can't use it. That makes sense! Ask what happened to alert? They said no alert? I received a alert for irregular activity 15 minutes later. I hadn't use my account since 2010 all of a sudden big bill. They would not work with me help me in any way. i filed a lawsuit I won!! But in the meantime they filed a charge off to my credit report and ruined my credit. Then they appealed my judgement lied thru there teeth said I never removed her. They didn't know anything about any alert. I had a copy of it. They turn it all around and said it wasn't Fraud. Right it wasn't it was B of A neglecting to send alert so I could have stop it at $500.00. So now even if I wanted to pay them I couldn't because they ruined my credit. Make sure you do everything with them in writing. If I can file a appeal I will and also eill bring along samples of how they lie and cheat and screw everyone. I love there new name Bastards of America.

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