I agree, however, with banks doing things like this it will put many people in default at rates they can not afford and if you times that by millions of customers, hmmm. This can put our country in a recession very quickly

Wow, I wish he had not been banned. He really knew what he was writing about.

uh oh, I made a typo, BofA only earned 9 billion last year not 90 billion. I guess they would have earned more if they didnt buy out Countrywide. You do know that we will all be paying for the Countrywide bailout next year

How the heck dis Porgy know this? Last year?

It's about saving money and REVENGE!

I hear ya hjm331. Give them (Card Services) a call though and here's why, if you find out the reason for the increase in APR maybe it can help the rest of us who are BOA customers and might be facing the same dilemna down the road.

But I like your decision in regards to the Balance Transfer, always about saving money !

Smcc, I didn't even bother calling them. I just BT'ed the balance off the card to my ESPN Visa which has a BT promo of 3.99% til April 2009. Apparently, there's someone watching my account which is how my interest rate was increased. Well, let them found out on their own that there's only $5 worth of charges on the account and that I will not heavily utilize the card anymore. Let them fix what they broke.

Oh my HJM. I never expected that one. HJM, do you have more than one card with them?

Im kinda scared that Chase might do that to me because my balances with them are high, but I pay like $500 and then charge like $200 or less... So my balance is deff goin down.

I currently am disputing the APR on my Chase Freedom.

I was approved 03/2008, CL $5500 w/ 0% APR for 6 months ending 09/09/08 then Prime+3.99%, currently 8.99%. They auto upgraded me to a Signature in July even though I told them not to. After numerous calls, on 08/04/08 they finally downgraded me and a few days after when I logged online, my interest was no longer 0%, it was 14.99%!!!!! With the downgrade back to the regular Chase Freedom, my special APR offers cancelled out. They refuse to deny thats the reason, and tell me that I was only suppose to b on 0% for 4 months, WTF! And I was never offered 8.99%... I am currently disputing this and have proof that my APR is suppose to be 8.99%. I still have all the original papers when I rcvd my card, which shows exactly what I was offered and a reply email from a Rep telling me on 07/14/08 the end date for the promo and what my purchase/cash apr will b after!

I mailed them a dispute letter 8/9 specifically acknowledging my 2 documents of proof. I rcv reply on 8/22 telling me that my APR is correct and to send in proof! I called and told them that I already did and that I will remail. So I remailed the documents 8/26 which they rcvd already on 8/29 and im waiting on a reply which I should get by Monday 9/15. They are fairly quick with replying and obviously fairly quick in reviewing my information, they dont bother to look at page 2 and 3. Hmmmm.....

Update]
I just rcvd the second reply and guess what? Its the exact same letter I rcvd the first time, just signed by a different name. I think they have monkeys opening their mail

Do you guys think that if I go to a branch and show them my documents and explain the situation, they will assist me or refer me to the 1-800 #?

hjm331 call Card Services to see why. I got approved for my Visa Signature Card with 9.9% and my BankAmericard rate is still the same. You think it might be the high utilization? I guess what bugs me is that if your making multiple payments within the same cycle and they are all more than the minimum and you have been doing this on a consistent basis, there should be no reason for this.

I also have a cking with Chase, I close my savings because I was simply not able to save.

That is odd how they only did the AMEX, maybe they have something to do with it.

I have 4 accounts with BOA. I have a checking and savings account with them. I also have a BOA Worldpoints Visa ($2k CL) and a BOA AMEX ($1.5k CL). The APR on the Visa is still 15.99% but I don't know what happened to the AMEX.

Oh my HJM. I never expected that one. HJM, do you have more than one card with them?

Im kinda scared that Chase might do that to me because my balances with them are high, but I pay like $500 and then charge like $200 or less... So my balance is deff goin down.

I currently am disputing the APR on my Chase Freedom.

I was approved 03/2008, CL $5500 w/ 0% APR for 6 months ending 09/09/08 then Prime+3.99%, currently 8.99%. They auto upgraded me to a Signature in July even though I told them not to. After numerous calls, on 08/04/08 they finally downgraded me and a few days after when I logged online, my interest was no longer 0%, it was 14.99%!!!!! With the downgrade back to the regular Chase Freedom, my special APR offers cancelled out. They refuse to deny thats the reason, and tell me that I was only suppose to b on 0% for 4 months, WTF! And I was never offered 8.99%... I am currently disputing this and have proof that my APR is suppose to be 8.99%. I still have all the original papers when I rcvd my card, which shows exactly what I was offered and a reply email from a Rep telling me on 07/14/08 the end date for the promo and what my purchase/cash apr will b after!

I mailed them a dispute letter 8/9 specifically acknowledging my 2 documents of proof. I rcv reply on 8/22 telling me that my APR is correct and to send in proof! I called and told them that I already did and that I will remail. So I remailed the documents 8/26 which they rcvd already on 8/29 and im waiting on a reply which I should get by Monday 9/15. They are fairly quick with replying and obviously fairly quick in reviewing my information, they dont bother to look at page 2 and 3. Hmmmm.....

Woe , wonder if that had anything to do with the link porgy provided in the first page! Take another look at that bro, I think they are out to hurt the good because of the bad.

I never thought this would happen to me but it happened and I'm definitely not pleased. BOA ratejacked me on my AMEX card from 15.99% to 26.19%. I haven't had the chance to call them yet but I'm definitely going to threaten them. If they don't reduce my APR, I will BT the balance off to another card and sockdrawer their card making sure it won't see any usage, just enough to keep the account open.

I'm still trying to figure out the reason for this move by BOA. It's either the economic climate or the fact that my utilization is high on the card and on my report. I have not been late with any of my cards and I always pay more than minimum, sometimes make more than one payment. I am going to try to find the time to call them today and see what happens. I will update this thread when new info is available.

If you have ever been ratejacked such as I, please post it here because it is a hot topic especially during these financially tough times.

The credit card companies are in a hurry to issue credit and then do things like this when they have losses. I think that if they were not so out to get peoples money they would not be in the predicaments they are right now. They thought the new bankruptcy laws would be very beneficial to them. But the CC companies are the problem not the consumers.

Hi Attagirl

I had to disagree. Card companies AND consumers are both to be blamed. CC supply the bait, customers swallow. :

The credit card companies are in a hurry to issue credit and then do things like this when they have losses. I think that if they were not so out to get peoples money they would not be in the predicaments they are right now. They thought the new bankruptcy laws would be very beneficial to them. But the CC companies are the problem not the consumers.

Hi HJM

You got me wrong; I have never treated credit card debtors like criiminals - the real criminals are the card companies that charges usurious rates of 24% or more.

As for emergencies, I understand that using a credit card to tide over may be necessary, but do you consider buying big ticket items like a laptop to be an emergency?

It is really nice talikng to you and if our exchange resulted in one less debtor, I will be very happy.