I'm not happy with BOA right now!¿ I've talked with numerous people and everyone is telling me, BOA is reducing their credit limits while increasing their interest rates.¿ I recognize BOA didn't want to take government funding, so they got creative and decided to create their own capital.¿ Having been a former banker, back in 1998, I know that fee income (like late charges, NSF fees) go straight to their bottom line profits.¿¿I feel sorry for those people who can't afford BOA's new plan of action.¿ Isn't there a better way!¿ Anyone watching their stock trend?¿ I know you're not suppose to "get personal" when it comes to buying stock...but I have to with this one.¿ I'm not giving them any of my business! Want to add anything to my comments?
I'm not happy with BOA right now!¿ I've talked with numerous people and everyone is telling me, BOA is reducing their credit limits while increasing their interest rates.¿ I recognize BOA didn't want to take government funding, so they got creative and decided to create their own capital.¿ Having been a former banker, back in 1998, I know that fee income (like late charges, NSF fees) go straight to their bottom line profits.¿¿I feel sorry for those people who can't afford BOA's new plan of action.¿ Isn't there a better way!¿ Anyone watching their stock trend?¿ I know you're not suppose to "get personal" when it comes to buying stock...but I have to with this one.¿ I'm not giving them any of my business! Want to add anything to my comments?
Hey "thenewman" Not sure what kind of biz you own, but I use to be a credit card rep, and those fees can be high if you have a high "ticket" item.¿ You did the right thing and shopped around.¿ Actually, you should shop around at least¿every 6 months.¿ Also, not knowing what your average ticket is, I can tell you that you want¿your customers saying "credit" when they have ticket item <$20 and definitely "debit" >$20.¿ This is probably your breakeven price.¿ If your clients with high purchases, "would you mind swiping debit, to keep my business costs down?"¿ Most purchasers won't really mind.
Hey "thenewman" Not sure what kind of biz you own, but I use to be a credit card rep, and those fees can be high if you have a high "ticket" item.¿ You did the right thing and shopped around.¿ Actually, you should shop around at least¿every 6 months.¿ Also, not knowing what your average ticket is, I can tell you that you want¿your customers saying "credit" when they have ticket item <$20 and definitely "debit" >$20.¿ This is probably your breakeven price.¿ If your clients with high purchases, "would you mind swiping debit, to keep my business costs down?"¿ Most purchasers won't really mind.
Taycott..That's exactly what happened to me!!!¿ Paid my monthly bill, stayed below my minimum...even had 3 cards with approximately $13,000, and they raised my rates substantially...so I just paid them off....not by transfer...CASH!¿ I need to be able to get into my account info for tax purposes....so I'm not cancelling them out yet...but I'm like you....WHO NEEDS BANK OF AMERICA! I'm not a whiner, complainer and don't usually cause trouble, but I'm so upset with BOA!¿ Thanks everyone for listening to my ranting and raving! Other than that....haha....it's a beautiful day here!¿ OMG...it's beautiful!
Taycott..That's exactly what happened to me!!!¿ Paid my monthly bill, stayed below my minimum...even had 3 cards with approximately $13,000, and they raised my rates substantially...so I just paid them off....not by transfer...CASH!¿ I need to be able to get into my account info for tax purposes....so I'm not cancelling them out yet...but I'm like you....WHO NEEDS BANK OF AMERICA! I'm not a whiner, complainer and don't usually cause trouble, but I'm so upset with BOA!¿ Thanks everyone for listening to my ranting and raving! Other than that....haha....it's a beautiful day here!¿ OMG...it's beautiful!
I hope that what all these banks are doing, is setting up for the big Nationwide Infrastructure rebuild, 'cause they say 60% of America's roads,bridges ,tunnels and everything else Is going to need replacing within 10 years. Myself, I had some cards with wells fargo that started at 14%. When they told me they were going to 19.99 I closed them out and took the option to repay at the current rate, which had gome to 15.99 ! All Iknow about BOA (BAC NAS)is i bought some of their stock in april for like 6.67. It about 18.00 now. citigroup was 1.50 it's 5.23 now. The only way for us to get some of our bailout money back is hope the stock's keep rising. Most pundits think c will hit 14.00 soon. I really hope they are planning on investing in America! For the sake of the next generation.
I hope that what all these banks are doing, is setting up for the big Nationwide Infrastructure rebuild, 'cause they say 60% of America's roads,bridges ,tunnels and everything else Is going to need replacing within 10 years. Myself, I had some cards with wells fargo that started at 14%. When they told me they were going to 19.99 I closed them out and took the option to repay at the current rate, which had gome to 15.99 ! All Iknow about BOA (BAC NAS)is i bought some of their stock in april for like 6.67. It about 18.00 now. citigroup was 1.50 it's 5.23 now. The only way for us to get some of our bailout money back is hope the stock's keep rising. Most pundits think c will hit 14.00 soon. I really hope they are planning on investing in America! For the sake of the next generation.
Ive been with BOA for years. Never missed payments or maxed out my cards. Apparently that put me in a bad light and two weeks ago they froze my credit cards. A friend told me it is something they are doing to cut down on risks. Ok, makes sense. But if I have never violated the terms of my contract, why my cards? I called and told them I would pay them off and cancel them. I have others so I don't really need them. But it was odd to be picked for the freeze for no reason.
Ive been with BOA for years. Never missed payments or maxed out my cards. Apparently that put me in a bad light and two weeks ago they froze my credit cards. A friend told me it is something they are doing to cut down on risks. Ok, makes sense. But if I have never violated the terms of my contract, why my cards? I called and told them I would pay them off and cancel them. I have others so I don't really need them. But it was odd to be picked for the freeze for no reason.
Thanks Bill for taking the time to respond.¿ Maybe you are one of the lucky ones that BOA isn't giving a hard time...but even my CPA, who is a "stickler" about his credit...told me that they increased the interest rate of a long standing account he has had, and couldn't give him a reason. They are raising my rates also and lowering my credit balances...and I usually pay 5 to 10 times the monthly amount, so I just paid my accounts off, and am now looking for a more competitive credit card company...course I have lots of cards...maybe I should just stop saying, "Chargeeeee"....hehe ¿
Thanks Bill for taking the time to respond.¿ Maybe you are one of the lucky ones that BOA isn't giving a hard time...but even my CPA, who is a "stickler" about his credit...told me that they increased the interest rate of a long standing account he has had, and couldn't give him a reason. They are raising my rates also and lowering my credit balances...and I usually pay 5 to 10 times the monthly amount, so I just paid my accounts off, and am now looking for a more competitive credit card company...course I have lots of cards...maybe I should just stop saying, "Chargeeeee"....hehe ¿
People that bounce checks and pay late should pay more in fees than those who¿pay on time. There is a greater chance that they will default on the loans. Credit is a privilege and not an entitlement. I have dealt with the B of A for over 20 years and never had a problem.
People that bounce checks and pay late should pay more in fees than those who¿pay on time. There is a greater chance that they will default on the loans. Credit is a privilege and not an entitlement. I have dealt with the B of A for over 20 years and never had a problem.
