Does anyone have trouble with Bank of America credit card interest rates skyrocketing?
481469
Credit card interest shouldn't matter if you use the card correctly and pay off the balance every month.
191689
Credit Card Convenience Checks are horrible.  Some of the interest rates go into the double digits.  It is the same as a cash advance off your credit card.  if you look at the paperwork that came with the checks, you will be able to see how much interest they are looking to charge.\nThen go to your local banks and find out what line of credit they would extend and at what rate.  Unless your credit history is really bad, you will get a significantly better rate at a bank than you will off a credit card.
477849
Yes! I experienced the same thing. I am on a fixed income and the amount that it took for me to try to go in to it was alot that I shouldn't have tried. I called them the same day and said I would like to have my money back, and I got the answer that it wasn't refundable, at cash flow direct.
316728
They tried to take out my mortgage payment 2 days early, and they charged me a NSF charge and a Late Charge, when the money was put in the correct day, and I had to notify them the day my mortgage was due and asked why my balance was off by $19.00. They say it was some kind of computer error. of course it would never be there error.\n\nThis happened 8 more times durning my 5 year mortgage with them.\n\nIt also took 2-3 months before they refunded my account the $19.00 and to rebalanced my mortgage accordingly.\n\nJust because banks have some fancy Business Degree, they still need to held accountable for work.  Like Mom use to say: Watch you pennies and the dollars will take care of themselves.
654413
You could probably get a pretty high limit. But beware...Higher the limit, and more you think you can spend. I figure, if you've gone this long, why get yourself into that situation again. If you choose to get one, do your research, I know several people have been screwed by Capital One! Find one for a no annual fee too...why pay someone an annual fee on top of huge interest fee and/or penalties. My advise...save up. Use the money you already have. If you are afraid of debit card getting lost or something, try Travelers Checks.
738709
I have filed bankruptcy 2 times and I am 35. The chargeoffs are on your record for max 10 years depending on company.  Within 1 month after each bankruptcy I was getting credit card offers. Interest rates are HIGH and credit limit is low but you can build up credit limit with on time payments and eventually getting credit line increase. I have orchard bank. I also applied for a sam's Club membership card, had it a few months and then applied for a credit card and got it with no problem..(it's now 30%). You can use it at Wal-Mart also...There are several you can get..just go online and research..Be careful..I have gotten offers for some that offer 300.00 credit line, 6.00 month fee, 150.00 year, 100.00 act. activation fee..(210.00 year total) at 22 or 23 % interest..Don't get in over your head.
1037012
I think they are a huge problem for the most part.\n\nAt their best, it is great to not carry cash, be able to easily buy over the phone or Internet and have the refund protection of using a credit card.\n\nHowever using credit, which implies buying things you don't have the money for yet, is a pit so many of us fall into, that can be a real deterrent to future financial security.\n\nIt is becoming increasingly necessary, in fact downright required, that one have a good credit record.   Your ability to get a mortgage, low insurance rates and even in some cases a job, all hedge on your stupid credit file.\n\nI have a big problem with a society that requires a credit rating just to find a job.\n\nAlso the credit card company's are rapidly becoming some of the biggest thieves in the world.   They offer cards to people on shaky ground, then jack'em up with high interest rates, late fees and overlimit fees when they get into trouble.\n\nNow..I know that each of us is responsible for our own choices, but the credit card companies offer the temptation of a life we cannot afford.\n\nSo...it is really easy for the good to be overcome by the bad.\n\nAt their best - you have a no fee card that gives you mileage points for every dollar you charge that you can use on any airline AND you pay the bill in full each month so you still have no debt.\n\nAt their worst, they will hold you back from ever having any stability, or any true wealth.
154693
Depends on the card. In my experince there is none. Even if they don't send you a statement, it's still your responsibility to pay the bill on time. If you have a ligitimate reason, they may wave the $25-$55 late charge, but if you had any promotional low APR, it will now be hiked up to 17% (or something else rediculously high).
980575
I saw this on a news cast one night.  They featured a story where the news employee approached people at random that were walking thru the mall.  They asked them if they had a credit card and would they want to lower their interest rates.  Well.....who wouldn't?  They simply called the credit card company and asked!!  Yep, it was that easy.  Time and time again, people (including myself) were amazed!!  All you need to do is call and ask them to lower it.  The odds ended up being something like, 8 out of every 10 people who called were successful.  Good luck, I hope this helps you.
525918
The safest thing to do is contact them ASAP and make a payment that will bring you below your limit.  Many things happen when they calculate your statement at month end, they assess extra fees and penalties, they adjust your limits and they re-categorize your risk profile.  All these thing can have an effect on what your cost will be, so don't wait. \n\nWhen you call them take the opportunity to ask for a credit increase if you are going to hit your max periodically.  \n\nNever forget that in the hands of undisciplined users --CREDIT CARDS ARE PURE EVIL.  DO NOT LIVE BEYOND YOUR MEANS.\nYour choices now will have an effect on your credit needs in the future (like buying a home.)\n\nGood Luck ~The Renegade Banker
1017288
Speaking as a 19 year old who somehow acquired $3000 worth of debt through an American Express card, I might be able to help...\n\nI say shop around for the lowest interest/APR rates. I'm not sure which Visa, AmEx, Mastercard, etc are the lowest, but just be careful with your rates. Try to stay away from credit card agreements where the company can raise your rate at any time, because that will screw you over in the long run.\n\nJust keep in mind that you SHOULD NOT GO CRAZY with a credit card. Its not free money. Think of it as a loan every time you purchase something. ...Sorry if this sounds like a lecture, but like I said before, I learned the hard way :-)
627948
Fico is not the only thing Amex considers when looking at an application. Do you have any lates, collections, Public records, bankruptcy? With no previous history with Amex the lowest I have seen thus far for approval was 640 with a 3 yr old charge off no other derogatories.  If you have already established a positive payment history with Amex like have the green or gold charge cards, it is possible to get "more desired" cards like Blue, Clear, etc. with a lessor Fico. Just so you know, Amex pulls Trans Union and Equifax. If you are between 640 & 700 with no negs in the last couple years you may have a chance at their Delta, Hilton, or Starwood as the underwriting for these are more relaxed. Then one can always call and convert to a card of their choice. Good Luck! I Love AMEX! They treat their customers very well.
1005024
Welcome to the latest credit card "gotcha".....it's call UNIVERSAL DEFAULT....screw up on one credit card, one loan, and have a low credit rating....at any time....and they find out....they can increase your interest rate.....get your statement from a couple of months ago and compare the interest rate to the current.....\n\n\nFirst, go to annualreport.com....pull your free credit report and pay the $8 or 9 bucks to get your fico score....if its above 620, you can call and argue.....if your history w/ them is good, you might have a shot.....BE POLITE......Tell them you are a great customer because you carry your balance and are never late....whatever...BE POLITE, but insistent.
678521
Including the usury rates of credit card companies? How do they get away with it?
192332
We have had Bank of America for several years and I am vey satisfied with it. It also has online bill pay (free) which saves a lot of stamps and envelopes. You can write checks to just about anyone.
1038453
Bank of America will kill you with hidden fees and stupid minimums. Go with Wachovia or Washington Mutual.
301123
That is a good rate, but be sure to read the fine print...they can often increase the interest rate if you are late, don't pay a certain amount each month, or after a certain period of time.  It is better to pay it off each month if you can...then you are paying 0% interest...can;t get better than that!