- Report: #258000
Complaint Review: Bank Of America - Baltimore Maryland
-
Author Confirmed
Why?
Bank Of America
PO Box 17220 Baltimore, 21297-1220 Maryland, U.S.A.
Phone:
800-789-6685
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Bank Of America Credit card interest rate Fraud Baltimore Maryland
Folks:
I have a credit card that was issued by MBNA. The credit card became a Bank of America card when BOA took over MBNA. I used this card to roll over some other debt. The interest rate I was issued was supposed to be 9.90% for the life of the balance. I have paid every payment earlier. The payment amount was also much more than the min payment. I did not use the card for extra activity since I was trying to pay down my debt. Everything was smooth for until today 6/30/2007. I went online to make sure my payment was scheduled for next week. I saw that my min payment had more than doubled. The interest rate went from 9.90 to 23.99 percent from the last payment made which was 6/6/2007.
I figured this was a mistake since my credit rating is over 700. I also have had a Bank of America Mortgage for over ten years and I have never been late. I called the number and got the run around by a couple of people. The customer service person said I was sent a letter in late April saying if I wanted to keep the same rate I had to write them by mail telling them I did not want my rate raised and I would not be able to have any additional purchase charges added to my account. I told them I have had the same address for over thirty years and did not recieve any letter. I would have sent in the request to keep the same rate had I recived the letter. I was told that was too bad because if I had responded timely the rate would have been left alone. The person told me they would not lower my rate.
The thing I find funny here is the man Mark Schultz told me he could not help me with the present rate but was willing to send me to a person who could wrap the debt into a personal loan. Mark said this is my only option. I ask to speak to another person or his supervisor. Mark would not send me to anyone else. I called back later and told another person my story. She gave me a number to call on Monday. Hopefully I can just get the rate changed back to 9.90 since I am willing to attest that I never recieved a letter concerning a rate change.
The good thing I found out today by doing a little searching is that many more folks the last few months have been treated the exact way as I have been treated ( rate jump from the low fixed promised rate for life to a huge new rate).
Folks this is a low down thing BOA is doing. I will more than likely very soon cut all ties with this company. Please tell your family and friends to think about this if they get an offer for a new credit card.
James
Ridgeville, South Carolina
U.S.A.
I have a credit card that was issued by MBNA. The credit card became a Bank of America card when BOA took over MBNA. I used this card to roll over some other debt. The interest rate I was issued was supposed to be 9.90% for the life of the balance. I have paid every payment earlier. The payment amount was also much more than the min payment. I did not use the card for extra activity since I was trying to pay down my debt. Everything was smooth for until today 6/30/2007. I went online to make sure my payment was scheduled for next week. I saw that my min payment had more than doubled. The interest rate went from 9.90 to 23.99 percent from the last payment made which was 6/6/2007.
I figured this was a mistake since my credit rating is over 700. I also have had a Bank of America Mortgage for over ten years and I have never been late. I called the number and got the run around by a couple of people. The customer service person said I was sent a letter in late April saying if I wanted to keep the same rate I had to write them by mail telling them I did not want my rate raised and I would not be able to have any additional purchase charges added to my account. I told them I have had the same address for over thirty years and did not recieve any letter. I would have sent in the request to keep the same rate had I recived the letter. I was told that was too bad because if I had responded timely the rate would have been left alone. The person told me they would not lower my rate.
The thing I find funny here is the man Mark Schultz told me he could not help me with the present rate but was willing to send me to a person who could wrap the debt into a personal loan. Mark said this is my only option. I ask to speak to another person or his supervisor. Mark would not send me to anyone else. I called back later and told another person my story. She gave me a number to call on Monday. Hopefully I can just get the rate changed back to 9.90 since I am willing to attest that I never recieved a letter concerning a rate change.
The good thing I found out today by doing a little searching is that many more folks the last few months have been treated the exact way as I have been treated ( rate jump from the low fixed promised rate for life to a huge new rate).
Folks this is a low down thing BOA is doing. I will more than likely very soon cut all ties with this company. Please tell your family and friends to think about this if they get an offer for a new credit card.
James
Ridgeville, South Carolina
U.S.A.
1 Updates & Rebuttals
Paul
Tulsa,Oklahoma,
U.S.A.
replace the card
#2Consumer Comment
Sat, June 28, 2008
Um, any time any biz buys another, the bought companyes products are suspect. In this case you should have been smart enough to know that a mbna card would possibly need to replaced by a new card. Note, there are a huge amt of choices of visa/mc/express from bofa. My own is a mortgage cc in that my rate for the cc is the same as the rate for the mortgage, and will always stay that way. I pay 6% for any and all credit transactions except for cash transfers. Those I dont do at all because the rate is not favorable. I have no intention of ever getting another cc unless they can give me better rate.. Thats why the only other cc is a 'carecredit' GEMONEY card for medical use.
