Here is more about it

http://articles.moneycentral.msn.com/Banking/CreditCardSmarts/IsBankofAmericaBlindsidingCardholders.aspx?page=1

Hey guys its not just BOFA,
My mom called me on Friday and she was really upset about HSBS. Apparently they are trying to do the same thing. They had sent her something in the mail regarding an interest hike, I tried to reassure her that its not personal regardless of how good of a customer you are but something the banks are doing. I think we would feel the impact of the economy crunch in one way or another wether its your stock portfolio or the credit card companies...
:

If you make full payment every month, how high the interest rate is of no concern of yours. Perhaps, this is a blessing in disguise to force people to be more disciplined.

I don't own a bofa card, just debit. Where is all of this coming from? Why are creditors dogging good paying customers. What they don't know, is that, it is going to make people say "Forget Credit" and just play banks like a tune. Good news but I am still kicking back with my fingers crossed.

Here is another link about BofA raising credit card interest rates. Be sure you click on this link along with the one posted above

http://www.businessweek.com/bwdaily/dnflash/content/feb2008/db2008026_105146.htm

B of A is having problems with customers paying their credit cards. They now have 5 BILLION in defaulted credit cards on the books.

Even if you have good credit and have never missed a payment they are going to DOUBLE interest rates to make up for the defaults.


Here is a link and you may find it shocking.

http://www.associatedcontent.com/article/591985/bank_of_america_doubling_credit_card.html