Credit Cards

[haulingthescoreup]

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Mark-MD wrote:

...Does anyone know why they would send me such a nice balance transfer offer in one envelope yet send me a HUGE rate increase on another of my accounts in the other.  I do not need to use the accounts, however, I do find this very very odd.  Anyone have any answers??????????????

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This is probably not it, especially since you have 7 other accounts to play with, but it would be fun to think that they would encourage you to BT to one card, locking it up against new purchases, and forcing you to use the other, hoping that occasionally you would carry a balance.

But that implies a coordination of effort and planning that I'm not sure that banks do any more.

[casinoannie97]

It was just on the news.  BoFA needs cash from the taxpayers.  I worry because they bought out Merrill Lynch.

Does any one know a good IRA?

[txjohn]

seems like a sort of bipolar behavior, doesn't it.

[casinoannie97]

?????

[Pappy214]

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Mark-MD wrote:

I have read on here that "calling in" can cause your accounts to be closed.  My solution to a 27.99% interest rate is just to never carry a balance.

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I fully agree. I got my first RJ letter yesterday from US Bank, and I will continue to PIF that card every month until it is lowered to a more acceptable percentage rate.And like you, I do not plan on calling nor complaining. I figure at present its par for the course.  

[NinComPoop]

Thats how BOA operates.  The card with a rate of 8.99 you hardly use and probably could be closed by them at some point for non-usage.  I would try to keep it active to keep it open but this is something common with card holders.  When I worked there I would see customers with many accounts that were with other lenders at some point in the past and their purchase rates and BT rates would be vary greatly.  One other possibility is you are not the primary account holder.  Many times people have a card with their spouse and think they are the primary account holder but are really an auth user but have no idea because the primary never uses the card.