Fuck Bank of America

[Hawaii Hiker]

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

This is utterly insane, raising people's interest rates for no REAL compelling reaosn....I can see if people default, go over thier limits, etc. charge them....But when people get a credit line increase in one month, then a couple months later raise their interest rate from 7.99% to 28.99% etc. for no reason, something is wrong....

Congress needs to stay involved in this (there were hearings in December not sure if anything came of it) as what Bank of America (and other credit card companies) are doing is absolutely dishonest, & deplorable....

[Blue_Tires]

1. crooks n/t

[flvegan]

2. Simple fix: creditors are allowed only initial access to credit scores.

You make your lending decision based on that. Unless increasing a credit limit or lowering interest (based on borrower request), you cannot for any reason access your customers' credit scores unless they specifically let you.

[Gormy Cuss]

4. Naw, that would be too consumer friendly.

It would also force financial institutions to work at developing a loyal customer base the way they did in the old days.

The use of credit reports and credit scores as tea leaves for predicting employment behavior has got to stop too.

[flvegan]

6. For deciding auto insurance rates as well.

[MissMillie]

3. the sicker parts of this are

they pay less than 1% interest on savings (!!!!!!)

and prime rate is DROPPING!

[TK421]

5. I'm actually very close to paying these shitty bastards off....

They did something similar to me a while back ( and I was paying under a consolidation ).
I will be wiping my ass with the final payment, and that's fitting since they STINK

Crapital One ( that's what I call those fuckers ) are no better, and are also extremely arrogant shitheads.

[Pacifist Patriot]

7. Fuck most banks

Whatever happened to usury limits? Anything over 12-15% is greedy, unethical, immoral and insane.