Bad Bank Of America Visa Card

Our interest rates doubled. From 5.9% to 11% for no good reason. No late payments. Nothing.

We had a fixed rate and they said "Mr. Siatkowski, letters went out to 40 million people" so I don't feel alone?

Wondering who else this happened to?

We have 4 accounts with Bank of America and I'm trying to wrap my head around where the logic is in this. Was it Visa or was it Bank Of America - they girl I spoke with said it was Bank of America - I was shocked.

Customer service sent me to Percy who sent me to Samantha, the credit analyst and she said it happened to her too (with another company.) She told me "we're [Bank of America] the leader in the industry and other banks will follow what we do."

That doesn't help me much, nor am I concerned about that.

It seems that, in a recession, businesses would worry more about their customers, not less. Fact is we can pay off and close the account and we're looking for options to close the other three as well. We can find a 5%-7% interest rate elsewhere but - more importantly - it's the feeling we have. The yukky-nasty-boy-we-screwed-you-and-your-wife-feeling that won't go away after we transferred money and closed other accounts to use our Bank of America "Fixed" 5.9% rate. Then, months later hear its going to double. And, all I get is some customer service validation in "Sir, our 5.9% was kinda like a promotional rate." Gee, thanks kid.

In financially lean times, I won't tolerate it. I hope you won't either.