Are There Any “good” Banks To Bank With Not Jerking People Around With Their Charge Cards?
We have “excellent” credit, and bank, as well as have two credit cards with Bank of America in McLean, VA.
Over the past month, we saw Bank of America, first, completely eliminate the “available credit” on our two charge cards, while reassuring us that “our interest rates would not go up at all on our credit cards”.
Then today, we got a letter in the mail from Bank of America, saying that they “now, are going to raise the interest rates on our cards up from the agreed upon rates that we had borrowed the money at.”
The letters said that, “If we did not want to have to pay the higher interest rates, we then had to notify the bank in writing before May 1st, and we could then continue to pay off the charge cards at the agreed upon interest rates, but our credit cards then would be completely closed by the bank.”
We are well aware, that this is happening to many other people, who also have “excellent” credit and have never made a late payment on anything in their entire lives.
My question is, “Does anyone know any “good” banks, around this area, that are NOT doing these completely underhanded things to their long term “good customers”, so that we can close our checking account with Bank of America and switch to another bank for all of our banking?
We had heard that some of the smaller banks are not doing these things, as most of them didn’t get envolved in the “toxic” mortgage investments that the bigger banks did, and that the bigger banks are now trying to make up some of their losses for.
The government has said that they are going to set rules for the credit card companies in July 2010, but that is just causing the charge card companies to be frantically closing accounts and raising interest rates now,
It is hard to believe that they can get away with this, and that there is nothing we can do about it.
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