[Libloather]

"But who has $6,000 just lying around?" Minch said.

When you needed $6K worth of stuff? Apparently, not you. You can thank the bank later.

[Constitutionalist Conservative]

If you don’t carry a balance, the bank can raise the rate to 130% and it won’t matter.

[Saltmeat]

BoA is offering a “high Yield” (their words not mine) CD requiring a minimum investment of $5000 at the whopping fixed rate of 1.4% for 12 months. They are charging this poor woman 30% on $6000 balance. This is a predatory difference of 28.6%. And they are doing it legally. Al Capone would roll over in his grave if he knew that what he did ilegally would now be legal.

Banks should be limited to a maximum rate of no more than 5% above prime. Then they would be much more particular about who got a credit card, and they would reasonable limits on the maximum balance. Then people would not be using so much of the “imaginary money” that some of you are referring to.

[The Comedian]

I have a moral problem with not living up to a contract one enters of one's own free will.

I also have a moral problem with every credit card company and issuing bank in America for being deceptive, usurious, governmentally monopolistic and parasitic.

In this case, I hope the woman does well, many people follow her example, the banks ALL go under, and we re-institute Constitutional money.

Failing that happy-happy joy-joy outcome, I hope the woman isn't bankrupted, and the banks still ALL go under.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[dalereed]

Throw that bitch in prison!!!!

[ScottinVA]

Red Bluff — my hometown from 1972-1976. I knew the Minch family when I was in high school.

[terry0211]

I have read all of your comments, and I can not believe you all have forgotten how the Credit Managers of the world have decided that we do not count, I have had interest rates doubled on accounts that I do not use anymore and have zero balance, at which time I have cancelled. I am completely support this women in here response to the Creditor and before we all lose our right to disagree, we should review who we support and who we attack.

[CapnJack]

Most likely the bank did inform her about the higher rate.
You know ... those annoying little pamphlets that they stuff in the envelope along with your statement that you automatically throw away along with those glossy offers for some garbage you would never buy in a store.

She needs to first pay attention to her mail, then pay off her card as soon as possible and cut it up.

[Vicki]

Bank of America several months ago gave us notice that we could not use the rest of home equity line of credit. That we no longer could use our credit card unless we agreed to pay double the interest.

Money market rate went from 2.00% to 1.2%. I went there and threw a fit. They said we had done nothing wrong. Everything was in good standing. Never late on anything and said they did this to all customers across the board and even their own employees.

[Graybeard58]

There are two subjects that are posted at F.R, that are assured of drawing a lot of comments. One is what you posted - credit cards.

The other subject is the Civil War.

If somebody ever posts a story concerning both subjects, in the same article it would draw thousands of comments.

I understand, that would be a most difficult story to find though.

[beef]

I have to admit that this is exactly what I plan to do if the banks pull this crap on me. All they should be able to do is cut you off from getting more credit. What you already have should stay at the old rate. Their business model is to lure people in with low rates and then try to trip them so they can jack it up. I have some money on a CC right now that is at a very low fixed rate. I pay on time like clockwork via automatic draft on the same day each month. Now they are playing a game where they moved my due date back 10 days or so to “give me extra time to pay”. Another round of this and if I don't adjust my payment date, what happens? Two payments in one month and none in the next. Bastards.

[giotto]

I don't agree with this woman's tactic. She borrowed the money, and the terms were probably spelled out in the contract (in 2 pt. type of course). If she had bothered to read the terms, she would have learned that the bank reserves the right to increase the rate at any time, for any number of reasons, or for no reason whatsoever. She should try harder to get them to lower the rate.

One of my credit cards went up to 29.9% interest for no reason. It took me three calls over 5 weeks time to get them to lower it. During this time, I waited for a letter that would supposedly inform me that the rate would return to its previous level. I finally got the letter, but it said the rate was still 29.9. I called back, was told the same thing, after which I demanded to talk to a supervisor, who, after much persuading, finally agreed to lower the rate. She also returned the extra interest I had paid in the past month.

You can do it. It just takes persistence.

[cherry]

many people depend on rotating credit with credit cards...its not my way because we never carry it from month to month...but it is the reality for millions....

this woman's point is that she has been a great customer...infact the best customer....she has been faithfully paying them off for 14 yrs...

and for them to disreguard her excellent record and pile on with a 30% interest rate is obscene...

and like we all know, "tarp" and the "bailout" were all for the big banks to Cover their arses....they already have taken off with our tax money for decades if not generations, and now they have the gall to increase interest rates on the little guy?.....no thx..

[dfwgator]

A pox on both their houses.

[FTJM]

I won't bank at BOA. I had an overcharge on an account once because an internet company overcharged me, the bank then hit me with several fees. I called them up and explained that I didn't want to pay the fees before I got the correction made from the company, then get the bank to waive them. I figured once I paid them, there was no chance to get them back. The customer service rep said fine, call back once the internet company made the correction and refunded the money. It took over a month and I called back 42 days later. They replied that they charged the account off. WTF.

So I went directly down to a BOA branch to pay the amount charged off. They wouldn't take a check from my mutual fund company. After much arguing, I went and got cash and paid it off. They agreed to remove me from the charged off list that prevented me from getting account for two years. NEVER HAPPENED. I tried five separate times to get removed from that list. Every time they said they removed me but it never happened. Finally after two years, my name came off the list.

Screw them.