Why Bank of America can go straight to hell…

I got a bit of bad news the other day is three folds. First, Bank of America sent me a very nice letter informing me that they were jacking up my rate based on serious delinquency on my credit report. Thing is, I don’t have any serious delinquency on my credit report and when I called and talked to one of the underwriters at Bank of America, she pulled every imaginable things out of her ass to explain why they jacked up my rate even though I have always been a timely payer on my credit cards.

But what she didn’t tell me, was the truth. Which is Bank of America is part of a “stress tests” and the Obama Administration is requiring top banks to raise capital to “build cushions officials hope will restore faith in financial firms and set a course out of the deepest recession in decades.” – CNBC (http://www.cnbc.com/id/30626486).

Bank of America stated they were going to sell assets as well as “take other steps to fill the hole.” What the Bank of Bullshit, uh America, failed to say was that those other steps included high jacking loyal customers interest rates on credit cards, slashing their credit lines and creating arbitrary reasons for it.

I was sick for most of the day when I learned this, because right now, my credit lines is the life line of business until things pick up in the economy.  I did balance transfers to keep my interest rates low so that I could afford to make the payments, and most of all, I PAID ON TIME!!!

But learned a very valuable lesson that day, never place in loyalty into an institution.  I actually read that by Dr. Wayne Dyer a few years ago, but I promise you it’s ringing true now more than ever!  I thought that if I paid my bills on time, that Bank of America would reward me with low interest rates and an increased credit lines.  But of course, that is not true.

What is even more interesting is that, people are already struggling to pay their bills.  And what Bank of America (and other big banks) choose to do, is increase their fees.  What do they possibly think is going to happen?  That people will be able to pull this money out of their asses?  I’m sure big banks like Bank of America will always be around, but this has truly inspired me to work my ass off to pay my debts completely, switch to a small bank or credit union where they truly know my name and tell Bank of America to shove their usuary fees completely up their asses!

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One Response

  1. Hey there
    Keep up the good work with your blog!!!
    When you get the chance, check out my blog: drmyers.wordpress.com; Recent dealing with the Economy! (http://drmyers.wordpress.com/2009/05/11/where-do-we-go-from-here-a-night-of-laughs/).
    Shoot me an email; perhaps we could do a mutual blog roll.
    Again, keep up the great work, and I hope to talk to you more the future!
    Thanks,
    Aaron Myers
    Twitter.com/aaronmyers (If you have twitter, shoot me an email)
    Ceoexchange07@gmail.com
    Drmyers.wordperss.com

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