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Just a rant...
Well, the only AA I have had so far is a rate jack on my Amex Blue and my BoA BankAmericard. The Amex Blue rate jack was late last year. November, I think. That's when I opened up my Citi card. Anyway, Amex finally lowered the APR back in February - and I didn't even have to call them. Next, BoA sent out their notices. There are multiple threads here on this.
Anyway, I called BoA a total of three times. And I was told: "Ms. Scout, your credit is excellent and you do NOT revolve a balance. The APR increase is due to the current economic climate. " I remained calm and professional. I explained that I will keep my account open and use it soley for my monthly Netflix charge. I told each CSR (supervisor, credit analyst, and manager) that I will use my other cards exclusively: Amex, Discover, Chase and Citi. I also told them that all of my other APRs are less that 10%.
My CCs are PIF each month. I try to only let one CC report a balance. So, I am done with BoA.
Interesting,
My BofA Rewards (1% cash) card just went down from 10.24% to 9.24% to 8.24%. My Chase Starbucks reward (1%+ Starbucks) is 7.24%. My Discover remains at 13.99%, a rate I would never pay unless I was dying.
Are you sure your Discover is below 10%?
What difference does the interest make if you PIF? Perhaps they are trying to make their financials look better.
I wonder with all the combining of banks and cards if it is simply the specific type of card for the BofA card that went up.
Yes, my Discover is at 8.99%.
And, no, the interest rate doesn't matter because I PIF. Just not happy with the rate jack.
My response to the rate jack is that I will use my BankAmericard only for my monthly Netflix charge and use my other CCs for everything else. And I mean everything else: groceries, gas, utilities, etc as they are all rewards cards. The other CCs have earned my business by giving me great APRs.
@Scout1965 wrote:Ms. Scout, your credit is excellent and you do NOT revolve a balance. The APR increase is due to the current economic climate.
Another perl of wisdom from a BofA. One I heard a few years back:
A 120 day late on your CR is only a sting.
So using BofA logic, I would tell the CSR that when they loose thier job when the company goes belly-up, that is only a sting to their employeemnt of course and is due to the current economic climate also of course.
@marty56 wrote:So using BofA logic, I would tell the CSR that when they loose thier job when the company goes belly-up, that is only a sting to their employeemnt of course and is due to the current economic climate also of course.
ROFLMAO !!!! . . . poetic justice.