OMG !! WTF !! BANK OF AMERICA IS HIKING CREDIT CARD RATES from 9.99% to 24.99 !!!! PIN THIS !! | |
Anonymous Coward User ID: 9482 United States 02/08/2008 08:41 AM Report Abusive Post Report Copyright Violation | Sucks, but if you read the fine print in every CC contract, you will see they have the right to adjust your interest rate upward with a simple notification to you. Simple solution. Don't use BoA for anything and use a credit card as a charge card, which means paying off your balance in FULL each month. |
Anonymous Coward User ID: 291725 United States 02/08/2008 08:41 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 276891 United Kingdom 02/08/2008 08:42 AM Report Abusive Post Report Copyright Violation | Yup. They jacked mine up from 3.99% to 25% a couple months ago. So I paid it off, called them up, and told them to cancel it. "But! Why???", they said. Friggen idiots. Now they'll just go broke even faster. |
_Storm_ User ID: 362931 United States 02/08/2008 08:44 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 370026 United States 02/08/2008 08:46 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 370069 United States 02/08/2008 08:47 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 363899 United States 02/08/2008 08:48 AM Report Abusive Post Report Copyright Violation | |
_Storm_ User ID: 362931 United States 02/08/2008 08:49 AM Report Abusive Post Report Copyright Violation | Even in this market, I suspect alot of banks will be able to offer more competitive rates, below 24.99%! BOA is reeling. Quoting: Anonymous Coward 370026Yes, and for those that cannot pay it off right away, transfering the balance to one of those companies may not be a bad idea. Still, keeping the balance paid off if at all possible is the best idea. If you can, hell, use your rebate, or whatever other means to get it paid off. |
Anonymous Coward User ID: 370128 United States 02/08/2008 08:49 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 250177 United States 02/08/2008 08:51 AM Report Abusive Post Report Copyright Violation | fucking bastards! |
Sireen-reborn User ID: 335827 United States 02/08/2008 08:54 AM Report Abusive Post Report Copyright Violation | My Best Buy and HSBC cards were both hiked to 29.99%! anything after 'but' is bullshit! [link to www.myspace.com] "Once you open your mind to the possibility of conspiracy, you then see conspiracy in everything." [link to deadbydecember-sireen.blogspot.com] |
Anonymous Coward User ID: 12283 United Arab Emirates 02/08/2008 08:55 AM Report Abusive Post Report Copyright Violation | Can someone please explain to me: Lets say you bought a TV using credit card the for 1,000 bucks today. [1] Under old rate how much do you pay in 1 year time? [2] Under new rate how much do you pay in 1 year time? |
_Storm_ User ID: 362931 United States 02/08/2008 08:58 AM Report Abusive Post Report Copyright Violation | Can someone please explain to me: Quoting: Anonymous Coward 12283Lets say you bought a TV using credit card the for 1,000 bucks today. [1] Under old rate how much do you pay in 1 year time? [2] Under new rate how much do you pay in 1 year time? This may help you figure it out. [link to www.bankrate.com] |
Xare User ID: 334282 United States 02/08/2008 08:59 AM Report Abusive Post Report Copyright Violation | |
repenting backslider User ID: 370134 United States 02/08/2008 08:59 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 12283 United Arab Emirates 02/08/2008 09:02 AM Report Abusive Post Report Copyright Violation | Can someone please explain to me: Quoting: _Storm_Lets say you bought a TV using credit card the for 1,000 bucks today. [1] Under old rate how much do you pay in 1 year time? [2] Under new rate how much do you pay in 1 year time? This may help you figure it out. [link to www.bankrate.com] Thanks for the above respone _Storm_ However, it hurts if I start to think, could you please use the above link and answer the above 2 questions. Thanks. |
Anonymous Coward User ID: 52813 United States 02/08/2008 09:03 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 369356 United States 02/08/2008 09:03 AM Report Abusive Post Report Copyright Violation | Thing I don't get, is that normally, they jack up the interest as the article says, for those with a poor credit rating. To m, it seems counter-intuitive to make people with a poor credit history pay more. Its as if they know that these people may have problems in paying, or because of their history, are desparate enough for credit to be willing to pay a ridiculous amount of interest. Either way, its a scam, because its just another way to keep the poor poor, those with bad credit to stay in bad credit, cc are an overall racket and not neccesary. If you need a cc, get one that is based on money you put on it. Same convience as a cc-renting a car, hotel room, internet purchases-but without any interest. Maybe a 5.00 a month charge to keep the account open. You control the amount as it acts like a debt card. Best way to build credit is to buy a car, pay it off, or just be on time with mortgage payments. Other than that, cc are just an evil tool and have caused more heartache than salvation to all of us. |
Anonymous Coward User ID: 276891 United Kingdom 02/08/2008 09:06 AM Report Abusive Post Report Copyright Violation | Can someone please explain to me: Quoting: Anonymous Coward 12283Lets say you bought a TV using credit card the for 1,000 bucks today. [1] Under old rate how much do you pay in 1 year time? [2] Under new rate how much do you pay in 1 year time? This may help you figure it out. [link to www.bankrate.com] Thanks for the above respone _Storm_ However, it hurts if I start to think, could you please use the above link and answer the above 2 questions. Thanks. My God. You must be a graduate of the pooblic skool system. 1,000 X 0.99 (9.9%) = $99 1,000 X .25 (25%) = $250 |
Free Store User ID: 148377 Canada 02/08/2008 09:07 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 249452 United States 02/08/2008 09:08 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 331560 United States 02/08/2008 09:10 AM Report Abusive Post Report Copyright Violation | |
1-2-Follow User ID: 341826 United States 02/08/2008 09:15 AM Report Abusive Post Report Copyright Violation | they've been doing this. i have never had a late payment or anything. i had a balance transfer at 15.99%. i thought that was fairly reasonable but still a little high. little did i know that if i used the card they charge 15.99% for the tranfer interest and a separate 15.99% for the purchases. now they have jacked both of my interest charges up to 24.99%. should be illegal. i am getting a loan from a local bank to pay that shit off and be done with BOA for good. best advice: never get a fucking credit card. i just didn't listen. Articles and "news" from liberal media shall now be known as catnip for libtards. Truth is schilling in the empire of retards. "Yep but for now we dub you toast guy." - AC520845 *PROCLAIMED PROPHET OF THE DOW* ® Let me know when the climate STOPS changing, then i'll be worried. |
Anonymous Coward User ID: 370140 Belgium 02/08/2008 09:19 AM Report Abusive Post Report Copyright Violation | |
Richard Strong User ID: 10903 United States 02/08/2008 09:24 AM Report Abusive Post Report Copyright Violation | I am Richardus Strongus. Father to a murdered 'Refreshtard' thread, Husband to a deleted Top 10 thread. I will have my vengeance on the Lightworkers ..in this life or the next. |
Anonymous Coward User ID: 166045 United States 02/08/2008 09:25 AM Report Abusive Post Report Copyright Violation | |
Grafted Promise User ID: 370136 United States 02/08/2008 09:26 AM Report Abusive Post Report Copyright Violation | We do use CC but always pay the balance in full. My husband tried to get the credit limit reduced after they hiked it unilaterally ... no can do! What a joke. Well, they's the ones that will have to cover any CC fraud as I keep all the reciepts of our use. Keeping our limit above what we want it to be is their loss then. |
Anonymous Coward User ID: 250177 United States 02/08/2008 09:27 AM Report Abusive Post Report Copyright Violation | aint this a bitch!! i knew this was too good to be true. These bastards approved me of not one but TWO! of their credit cards - one w/ a 4500 credit line and the other a 5500 credit line. I was thinkin to myself, this is weird beccause i just came off the 7 yr bad credit time period. And IM starting to building my credit. Why would they give me a 10 grand line ? Quoting: Anonymous Coward 250177fucking bastards! |
Anonymous Coward User ID: 327464 Australia 02/08/2008 09:32 AM Report Abusive Post Report Copyright Violation | Can someone please explain to me: Quoting: Anonymous Coward 12283Lets say you bought a TV using credit card the for 1,000 bucks today. [1] Under old rate how much do you pay in 1 year time? [2] Under new rate how much do you pay in 1 year time? The % rate is per annum, compounded daily. What this actually means is that they take the percentage rate, divide it by 365 days, and apply that interest every day (it actually works out you pay more that the stated percent over a year, but it's fairly close) so 25% / 365 = 0.0685% per day so if you have $1,000 debt then on day 1 you owe 1,000 day 2 you owe 1,000.68 day 3 1,001.37 day 31 1,020.75 day 100 1,070 day 365 1,198 That's only on $1,000 if your cc debt is into the multiple thou's you could be paying more than $100 a month without reducing your debt at all. |
Anonymous Coward User ID: 335844 United States 02/08/2008 09:34 AM Report Abusive Post Report Copyright Violation | If people really knew what these large banks were doing to people, they wouldn't use them. I used to work in a bank and I know firsthand that their goal is to screw peoples accounts to charge them fees. It really is based on greed. Also, the large banks do not pay much for savings. I have seen that most of these large banks now prey on the urban class and those without financial knowledge. I will keep my credit union for the rest of my life. I don't trust any bank, but having worked in the industry, I urge most of you to look into credit unions. Primarily Navy Federal Credit Union, USAA, or another union that used to be for the military. I've had the same 10% rate on my card for many years. I don't carry a balance so I really don't care about the rate. They have lower rates, but I'm too lazy to get mine reduced. Like I said, I don't carry a balance so the rate isn't important to me. |