Bank of America

Discussion in 'Credit Talk' started by tom65432, May 18, 2001.

  1. tom65432

    tom65432 Well-Known Member

    I have been a long time cutomer of BOA with almost perfect credit. I have had many loans with them and have always paid on time. I have their VISA card and was shocked to see that the interest rate was 20.99%. I have always paid this bill in full each month so it is not a problem. But, I am curious if others with a BOA VISA have this high an interest rate?
  2. Donna

    Donna Well-Known Member

    I don't have this card, so I can't offer advice from that perspective, but why not call and ask BOFA what's up. As a consumer, you certainly have the right to know. At best, you could get the APR lowered. At worst, it will remain where it is. So you have nothing to lose.

    Good luck. If I were in your situation, I'd be asking questions, too.

  3. Karen

    Karen Well-Known Member

    I'm curious. If they treat good customers like this, how much do they charge bad customers?
  4. Cadillac408

    Cadillac408 Well-Known Member

    It is my understanding that BofA doesn't entertain bad customers. Feel lucky if you obtain a card from them w/o having some kind of prior relationship established.
  5. jonesing

    jonesing Well-Known Member

    Well I'm getting a BofA card in a few weeks. Not sure what all the terms are off hand.

    "Picking your interest rate. With most Bank of America credit cards, you can choose an interest rate â?? one that fits your needs.

    With a Bank of America Visa Platinum you can enjoy:

    9.9% Fixed APR
    No Annual Fee

    8.9% Fixed APR for Balance Transfers that won't expire
    No Annual Fee

    3.9% Introductory APR
    No Annual Fee "
  6. creditwork

    creditwork Well-Known Member

    I have had a BofA card since they took over Nations. I always pay on time and only use cards when a teaser is offered. My rate is 19.8%, balance is 0, line is $10,100.
  7. judyputy

    judyputy Well-Known Member

    Creditworks and I have the same card.

    I have three B of A cards. One is a very old card from Nations Bank. It is a miles card that carries 19.4% interest. So I have hardly anything on that card.

    Another card has a 8.9% rate fixed for the life of the transferred amount.
    Another with a 8.5% rate for the life of the transfers.

    I have tried to negitiate a lower rate on the Nations card, but they give me some dribble about the rewards card has higher interest...yada yada. So I don't often use it. But it's a very long trade line so I keep it open and charge $30 her and there on it to keep them happy.
  8. creditwork

    creditwork Well-Known Member

    I keep it open in the hopes they will give me a teaser. I have had a zero balance since 2/01. No offer.

    GEORGE Well-Known Member

  10. miles

    miles Well-Known Member

    I definitely think you should call them. Have you checked your CRA reports? Maybe there is something on there that gave them reason (in their eyes) to raise the rate? If not, complain big time. I'm sure they will work with you.
    I have a BofA visa gold with a 10.9% rate.
  11. tom65432

    tom65432 Well-Known Member

    I have been in the process of clearing up a few negatives on my credit reports. I think I need to pull a report again. I have never checked my FICO score so I will do it today. It's about time.
  12. miles

    miles Well-Known Member

    Make sure you check all 3 CRA's. Good luck to you!!

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