Bank of America lies and cheats

I received an invitation from Bank of America to transfer a balance to my credit card at a rate of 7.99 apr for the life of the balance transfer. 1 month later, I received a notice in the mail that my finance rate was going to increase. Immediately I called and verified that the rate increase would not affect my finance rate on my balance transfer and was assured that it would not and that the new rate would be for purchase only or any new balance transfers. 3 - 4 months later - Bank of America increased my APR on my balance that I had transfered from 7.99% to 21.99%. When I called, they told me that I never had a rate good for the life of the balance transfer, that my rate was strictly a promotional rate. I argued the point and explained that I even called when I received the notice and was assured that my rate would not increase, only to be told that I was mistaken. I asked why my rate was going up so high when I always pay my bill early and always above the minimum payment. I was told that I was a high risk because my debt to income ratio was high and I was not makeing very aggressive payments. I told them that I always paid more than the minimum. They said it was not aggressive enough. I also explained that I was in the process of buying of house and had enough to pay off the balance in the bank but was not touching that money until I settled on the house. He told me there was nothing he could do. I asked to speak to his manager and was told - he had the final decision making capability and refused to let me speak to anyone else. This company lied in their advertisements to get people to transfer balances and then raise the interest rates with no recourse for the comsumer

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I don't experience bad problems with BOFA and am mostly satisfied. Yet I've noticed how cashier ladies behind the counter try to NOT give me cash when I cash a check. It happened to me at least 3 times in the last 10 years and last year happened twice as far as I remember if not more. The lady behind the counter, usually a young one would give me a receipt and she would say "how else can I help you" and "you can go now", yet I'd ask how about the cash actually and she would say "oh yeah the cash" without even blinking. I am not an idiot, I can see (and sense) they are trying to cheat me out of my money, probably good money by cheating people out of their cash and some people probably fall for it and then when they come back home they probably think they already spent that cash somewhere. BE CAREFUL, always be alert at any bank. Some cashier ladies at banks are preying on your cash. Important rule is to not trust any young ladies, either at the bank, the road por elsewhere. They are one of the most dishonest preying creatures I've experienced. Sorry for the guys who date such gals. Oops.

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Call all of your elected officials and give them your feelings at http://www.usa.gov/Agencies/Federal/Legislative.shtml. Banks are borrowing money at record low prices and we are paying record high interest rates. All this will kill what is left of our economy and some of us have the only choices of getting government to do something or stop paying which could mean more bailouts and highter taxes becuase you didn't think it would effect you. Bank of America and Chase are the two that have done me and my business the worst.

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I agree that Bank of America lies and cheats too. We wanted to do a balance transfer at the lowest rate possible, so we called them for the rate that's available to us. At first, the representative said the lowest he can offer is 1%APR plus a balance transfer fee of 3%. I told him because of our account/credit history, we usually get 0%APR for a certain number of months, and asked him to check carefully for that. (Even though 1% is low, who doesn't want 0%?) After talking for awhile, and we were going to process the balance transfer at 1%APR, he says actually he found an offer at 0%APR plus no balance transfer fee. So instead we went with that. Just to be sure, we verified over and over several times with him to make sure the transaction's going under 0% and no extra fee. He said yes each time, and even at the end repeat it to us and asked for our permission to process the transaction. We agreed. After we hung up, we thought why not transfer another balance while we get such a good offer. So we called back, and to our shock, we found that the transfer we just made was actually under 1%APR and we had a balance transfer fee. We told them that was the rate given at the beginning, but we were offered a 0%APR afterward. The representative basically repeat the same damn thing over and over to us saying that the transfer was placed under 1% instead of attempting to explain why such confusion happened. 1%APR isn't high, and we were going to go with that in the beginning anyways, but it was about the principle of being honest. So I asked to talk to the supervisor. The supervisor did not try to fix the problem, had an attitude, blamed the fault on me and said it is clearly written on my account that the transfer was given permission by us before it was processed. That's true that we agreed, but to 0%APR not 1%APR with an extra fee. We ended up cancelling the transfer due to their dishonesty and insincerety when dealing with their customers, not because of their rates. We will never do a balance transfer with Bank of America again. Note to other people, only do balance transfers based on rates that were sent to you on paper (i.e. balance transfer checks). At least you have something as proof when they lie about their rates. Don't call in for rates.