Tuesday, August 25, 2009

An Open Letter to Bank of America

An Open Letter to Bank of America:

Dear Credit Card,

As you are aware I, JW, have been a card holder since 2005. In the past I have used this credit card for school purchases, tuition, and fees. Most recently I used the credit line to pay for medical expenses. As you could imagine this created a very high balance, 13,900.00 total. Each month we paid twice a month, managing to pay 800.00 per month. Between the months of July 15 and August 15 I paid only 343.00 which was the minimum payment, due to an impending move. On August 1st I scheduled a payment and called to change my address. The change of address took three days to "verify" and caused my payment to be in limbo one extra day. This created a default! You created a default! You are so stupid. Now instead of an average interest rate of 13.5% I have been informed that my interest will be 27.5%.

I could not believe my 27.5% notice. When I received it this week I reviewed my account and my little notes, and noticed, that this is not my mistake. So, I call. I get nothing but a pep talk saying if I pay my bill on time for six months you can adjust my rate. This is unacceptable.
I have transferred your crappy service and my balance to USAA, at 11% interest. They were delighted to help and promised me an auto pay system that will not default if I change my address. Today, I called to cancel my BOA account. I am going Dave Ramsey on your ass. Fuck you.

Sincerely,
Thanks for screwing me.

2 comments:

Jamie said...

Oh boy first of all I am really LOLing about your last two sentences. Secondly, you go girl. Third, what a major pain. Fourth, I never have liked that bank. Fifth, ROCK ON USAA- you're the best bank! Glad you got it all straightened out!

Kim said...

Yikes! Yeah we hated that credit card too. They charged us $71 a month if the balance wasn't paid in full so therefore it never seemed to go down. Thank God we got rid of them for good. We will never have a credit card again. We swore by that and it's been 2 years credit card free.Thank Goodness. I heard somewhere before maybe on the news or something that BOA was like the worse credit card to have because of the interest and other fees they get you on. So glad USAA was able to help you out.