Bank Of America Complaint - Raising Percentage Rates For Credit Cards
INDIANA -- I had been with MBNA since 1994 which of course is now Bank of America. I have never been late, that I can recall, never over my limit of credit. I was paying 12.9% until this month. I looked at my statement and it showed I was over my limit. Reason was actually made by them, as they raised my interest rate from 12.9 to 28.9, more than doubling my interest rate. Now I show I am over, plus billing me charge for being over my limit. I called them and they said something to do with my credit report. Last time I looked at my credit report which was early January is was 722, not bad. They also said they sent me a letter stating they were going to raise it, which I have never seen. I have read many reviews on here and most sound like they are getting screwed as I am. Now I will pay as always but soon as I can come up with the money I will close this account and tear up my card.
And I can assure you I will not use them after I do or now as far as that goes. Also will never recommend them. I see where they are asking for a bailout help from the government, which by the way they are screwing many customers as I and raising the rates as they please, they should not need help. I have always felt good about them as I had never had any problems with their service until now but now I realize they are a greedy company. I really hate raising hell but this is ridiculous or outrageous as the economy is deep in trouble, and many people finding it hard to pay their bills and then someone like this comes along and pull a stunt like this.
I am going to write my Congressman at the Capital to see if he can help with such an outrageous problem as this or at least make him aware of such a problem. I believe if all of us that have this type of complaint would write your Congressman we might get some action.
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