Money Tips: Bank of America Credit Card Rate Hike

Posted On: April 11, 2007

Guest: hooknife
Post subject: Bank of America Credit Card Rate Hike
Posted: Wed Apr 11, 2007 2:20 pm

To make a long story short…..

I was paying minimum payments on my 10.9% Bank of America card with an $8000 balance for the last year or so while I paid down my other 2 cards to $0.00 balance. Last week I got my credit card statement in the mail and Bank of America decided to push my rate up to 19.0%! I then called them to find out what had happened and they explained that “because I was not using the card in the way that they had wished” they had no other choice but to up my interest rate. Please keep in mind I have not been late on any payments in the 8 years I had the card and I carried a balance.

WELL, SCREW THAT!

I wanted to see what card you guys would recommend I transfer my balance to. I want to transfer the 8k balance and pay it off within 2 years.

I have not paid late on any card in many years and my credit score is 726. I have a total of 3 credit cards, including the Bank of America card. Other then the Bank of America card I have 2k on each card. I also have a Best Buy and Banana Republic Card with $0.00 balance. I have a house and car loan also.

Your thoughts are much appreciated!

Guest: xace
Posted: Wed Apr 11, 2007 2:33 pm

American Express Blue.

Labels: best credit card offer, credit card rate hike