User Comment by Lindsey on Bank of America Complaints







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Lindsey's Comment on
Bank of America Complaints

Re: variable rates

User Comment

Main thread--Bank of America Complaints

From: Lindsey
State: PA
Posted: 10/16/2009
Subject: variable rates
Comment:
I have 2 accounts with bank of America that I originally used to consolidate some smaller cards a few years ago. They have significant balances, and I received a letter yesterday stating they both will be switched to variable rates starting at 14.99% and 19.99%. How can they do this when I signed up at a fixed rate and I have never been late and usually pay more than the minimum? How can they start the variable rate so high when the prime is so low right now? This is unbelievalbe to me and I don't know how it's legal. I can't just pay off the balance, but I know I will NEVER use bank of america for anything again.

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