@#$% B of A - need advice

iVillage Member
Registered: 08-04-2008
@#$% B of A - need advice
14
Mon, 07-06-2009 - 11:28pm

Ok, I had a business about 4 years ago, and had a Bank of America credit card.




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iVillage Member
Registered: 08-04-2008
Wed, 07-08-2009 - 10:29am

Sharon -


Again, it is a business account, that makes it different, apparently.




iVillage Member
Registered: 10-01-2008
Wed, 07-08-2009 - 10:38am

I wasn't paying that close attention.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 04-10-2003
Wed, 07-08-2009 - 10:48am

Hi Marie,


Do you know what happens if you don't pay it? Where will it be reported? Since its not on your account now I am guessing late payments won't be reported in your name?? If that is the case and they don't help you then I say screw em and hold back payments until they want to talk. From what I understand you can't simply decline the rate increase and freeze the card because its a business account? Is that correct? It doesn't seem right that they can't let you close a card down, but what do I know.


Good luck when you talk to them in person!


Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

iVillage Member
Registered: 11-05-2006
Wed, 07-08-2009 - 2:16pm

Hi,


I too have had the same thing happen recently. I find it a bit coincidental that it occurred after Obama signed the new credit card act (don't remember what it is called). My Chase card that we have had for 10 years and have never been late on went from 8.9% to 29.9%. We called and requested that the rate be reduced and they said that they were not able to do that at this time. When we asked why it was raised they could not give us an answer--VERY vague! We even threatened to transfer the balance to a non Chase card and they still did nothing.


Honestly, I think that we are all going to see our rates increase as they are beginning to protect themselves against this new legislation that will go into affect next year. They are trying to make as much money off of us while they can.


It is a different time now--Have you noticed that the 0% interest balance transfer offers have basically disappeared? We used to get them monthly in the mail--we haven't gotten one since February.


My advice would be to transfer the balance to a lower interest card if you can. So sorry! It is so frustrating...


Tami

Tami


Loving wife to Bob and adoring mommy to Bobby Shea 1/15/08

 

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