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So tonight I get home from work and open my mail. I get a notice from Bank of America, who owns two credit cards that I have. Originally they were with MBNA America but became part of BofA a few years ago through a buyout. The notice tells me that, effective immediately, they are going to raise my rate from 7.99% to 13.65%.

more beneath the fold

For full disclosure purposes I have never used the card beyond balance transfers and I have been making on time payments without fail. I pay a dollar or two above the minimum. The balance isn't increasing. It's steadily falling. My FICO score is well into the 700s.

So I called the number and the lady told me that this was a "business decision" and that BofA was doing this to everyone regardless of balance, spending pattern, or payment history. My only option was to "opt out of the change", which means that I am not to use the card. The second that I charge a purchase the interest rate rises.

I told the woman that I wanted to opt out of the change. She stated that she would send me a letter in writing through the mail indicating that I had opted out of the change and that my rate would stay the same, provided that I no longer used the card. Even though she said that I didn't need to do this, I also told her that I would be sending BofA a letter in writing indicating that I reject the changes. I mailed it tonight.

She did say, though, that they were getting lots of angry phone calls from borrowers who were paying on time, paying off their balance in full, and not overspending. She said that this decision was for all card holders, regardless of rating, status, payment history, or balance.

I told her that they were losing their best customers. I told her that I have been a cardholder with MBNA and BofA for twelve years now. I said that penalizing their best customers isn't going to improve their bottom line. She said that she would bringing this matter up at her "managers' meeting on Thursday".

I guess that I'm concerned because I also have a balance on another company's credit card at obscenely low rate. I have been making on time payments without fail. I fear that that this company may do the same to me.

Has this happened to anyone?

Originally posted to oceanstar17 on Mon Apr 06, 2009 at 06:51 PM PDT.

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Comment Preferences

  •  13.65% is better than my BankAmericard (15+ / 0-)

    so I get the surprise but not the anger.

    As God is my witness, I thought turkeys could fly.

    by ticket punch on Mon Apr 06, 2009 at 06:56:03 PM PDT

  •  This has been going on (10+ / 0-)

    since the first of the year.  I got notices from Discover and Capital One - I think Cap One rates were 21.99 percent.  We need to start harping our congresscritters about this.  Banks won't lend, but they've got no problem charging us to death.

  •  Hope! (9+ / 0-)

    My unemployed son contacted BofA today, and got his credit cards frozen (no interest!) for a year--of course, can't use them, but they won't multiply like horny rabbits all year as he frantically chases stimulus jobs!

    Quidquid latine dictum sit, altum viditur.

    by MrMichaelMT on Mon Apr 06, 2009 at 07:00:12 PM PDT

  •  So far I have not received any of... (5+ / 0-)

    these hideous letters...but I am a premier banking relationship with BoA...so I guess they would not do that to me given the amount of total business I have with them...and my other credit cards have been 10+ year cards...

    Obama - Real Leadership for a Real Change

    by dvogel001 on Mon Apr 06, 2009 at 07:00:59 PM PDT

    •  don't bet on it. (2+ / 0-)
      Recommended by:
      dkistner, krnewman

      Given enough time, I think EVERYONE's rates will rise.  I plan to cut WAY back on my spending, and use either of my two other cards. BOA is officially on my sh*t list.

      "And God separated the light from the dark, and did two loads of laundry"

      by Fiddlegirl on Mon Apr 06, 2009 at 07:51:29 PM PDT

      [ Parent ]

    •  Premier Banking at B of A (3+ / 0-)
      Recommended by:
      theran, Brooke In Seattle, krnewman

      FYI, We also have had a premier banking relationship with B of A for many years. Last week we were told by our local Branch Manager that B of A is closing the Premier Banking Division. Being a long term good customer had perks in the old economy that banks can no longer afford.

      I think the big banks are in much worse shape than they're letting on. They're going to cut costs and raise fees wherever possible to survive, and good customers will not be insulated from their shenanigans.

      •  That is interesting... (1+ / 0-)
        Recommended by:
        theran

        I have not heard from my branch about that...what level of premier banking were you 1st level or 2nd level?

        I do know that the personal banker person was let go...but I was unaware that they ended the program with a separate call-in queue and preferred service when I go to the branch...

        Obama - Real Leadership for a Real Change

        by dvogel001 on Mon Apr 06, 2009 at 08:15:20 PM PDT

        [ Parent ]

      •  I just got off a chat with BoA... (1+ / 0-)
        Recommended by:
        theran

        apparently, they have raised the minimum relationship value from $100K to $250K but are not ending the program entirely...FWIW...

        Obama - Real Leadership for a Real Change

        by dvogel001 on Mon Apr 06, 2009 at 08:30:42 PM PDT

        [ Parent ]

      •  Same Here (0+ / 0-)

        2 mill plus per year through BofA and just got a letter from my Premier Banker that she had been canned and here's the new 800 # with no other info.  Time for a change of banks

        My Brothers Keeper

        by Reetz on Mon Apr 06, 2009 at 10:00:27 PM PDT

        [ Parent ]

    •  Keep checking your mailbox (2+ / 0-)
      Recommended by:
      theran, krnewman

      I thought the same thing...

  •  13.65% is way better than what I'm paying on (9+ / 0-)

    a balance transfer on two of my BofA cards. And I rarely put any purchase on those cards and pay them off too. When they increased the rates, I told the cutomer service rep that once the balance is paid, they are losing my business. Nothing happened, so I guess they are quite intent to anger their customers. Fuck them.

    Rabindranath Tagore-"Bigotry tries to keep truth safe in its hand with a grip that kills it."

    by joy sinha on Mon Apr 06, 2009 at 07:02:56 PM PDT

    •  That's going to hurt them later (6+ / 0-)

      I probably won't deal with them once I pay off the balance.

      •  you may consider keeping (1+ / 0-)
        Recommended by:
        krnewman

        the cards even if you don't use them.  Part of the FICO score comes from average age of all your cards.  I still have my old card from my college days; just never got around to cancelling it.  I was surprised to see how much it was helping the average account age on my credit reports...

      •  this is making me wonder if there is going to be (0+ / 0-)

        a later.  Perhaps the CEO's of the banks are intent on getting huge bonuses for as long as they can before the banks completely collapse.  

        The bankers know where the bodies are buried and we haven't even really begun to see the collapse of the commercial real estate market and those immense loans going south.  There was a large amount of building going on in Snohomish County just north of Seattle up until the last 6 months.  Now, the big condo project as well as other projects near my little bedroom community is deader than a door nail.  This is going on all around the County.   These projects will probably go into default on money already loaned.  It is getting really ugly out there.

        Buy Gold and Silver as a hedge.  Well, or don't, but I am picking up silver coins as my circumstances allow.

        My grandkids will be glad to have them if I am wrong, lol.

  •  all banks are doing this (11+ / 0-)

    technically (there is a reason i use that word) they can do that because by activating the card you agreed to the contract which states they can change the interest rate whenever the hell they feel like it.

    that doesn't make it right or fair - but until usury laws are put back in place - they can do it all they want legally*

    the best thing to do is pay off the balance, never use the card again, and not use credit cards at all if possible. if they lose enough good customers they won't be able to balance off their bad customers and they'll learn the err of what they did.

  •  Most advice I've read says (1+ / 0-)
    Recommended by:
    ilovecheese

    you should find a better deal online, switch your balance, then keep your balance-to-available-credit ratio very low (under 10%).   (Don't stop using a card; issuers hate that and will cancel your ass.  Then your credit rating will take a hit.)   Every six months, call routinely and request a raise in your credit limit.  If you're paying on time and keeping that balance low, you should be granted a raise.  This will help your credit rating.    

    I've followed this advice for several years,  and have yet to have the interest rate raised or credit limit lowered on either of two VISA cards (one from B of A and the other from Chase).      

    Their cause, if they had one, is nothing to them now. They hate for hate's sake. (W.H. Auden)

    by dotalbon on Mon Apr 06, 2009 at 07:10:14 PM PDT

  •  Capital One did the same (7+ / 0-)

    I recieved a letter from Capital One pulling the same BS......Had the card for years, never missed a payment, always payed way over the minimum due. I called Capital One to complain and they pretty much told me the same thing BOA told you. I dont have a balance on the card but I will be sure to spend $5 a month on a boca burger and pay it off right away to screw them in the ass....

    •  Yeah (3+ / 0-)
      Recommended by:
      gmb, ladybug53, ilovecheese

      I have other cards that I'll make one charge once every three months or so for $5 just to keep the accounts active.

    •  Discover did it to us (4+ / 0-)
      Recommended by:
      ladybug53, kurt, krnewman, ilovecheese

      When I called, they told me they did it to 900,000 other customers.  I told the man on the phone that the card going in the drawer and will not be used.  I swear I heard him shrug on the phone.

      The card is still in the drawer, a year later.  I don't care about their "cash back" bullshit.  It costs the vendor more for me to use my card (especially Discover, to pay for that cash back) than if I pay cash, so I figure I'm helping out my local merchants by not using it.

    •  Hee hee (0+ / 0-)

      Screw them over with the Cheeseburger Gambit!

      Same here. Will raise my rate by 10.6% in Jan and other than they couldn't handle their own business are they raising my rates. Guess getting free money from the Govt and even borrowing from the Govt at 0% wasn't enough for them...

      Hey, someone's gotta pay for those bonuses...

  •  Hungry vampires suck blood (7+ / 0-)

    Doesn't mean they are smart about killing the source of their sustenance. they are hungry, you are a victim, they will pounce. Except you won't rise from the dead, so to speak, you will cancel them. Oops.

    Yes we did, yes we will. President Obama

    by marketgeek on Mon Apr 06, 2009 at 07:19:13 PM PDT

  •  One of my fantasies (12+ / 0-)

    is for every single American to not pay their credit card bill for 6 months.  Just stop giving them money.

    Another is to eliminate FICO, or at the very least open up all the "rules" for that score.  Right now, it's a fukkin' secret and that is as wrong as wrong can be.  The access to that information is too broad too.  No reason why an employer needs to know your credit rating.  They need to know if you will show up on time and do the job.  That can only be determined after you've been there.

    The other is to have Congress cap credit card interest rates at 10% for 2 years, make it illegal for any credit card company to dump any existing customer for 5 years, and make the max interest rate no higher than 20%, ever.  We can get this one done if enough people write and put the pressure on Congress.  Joe Biden will forever be on my shit-list for his help to the CC companies.

    What no one seems to understand is in an environment such as we find ourselves right now, the banks should be damn glad to be getting SOMETHING.  The higher they make the interest rates, the less people can pay.  It's stupid, short-term thinking, which is what got them into this mess in the first place.  I know it looks better on their books, but their defaults are rising, and all the collaterized securities on credit card balances (just like mortgages) are going south pretty quickly, putting more 401(k)'s, institutional money market funds, etc. in jeopardy just like the mortgage issues.

    And, to make my dream complete, I want the banks to give back all the money, and Congress to hand every American adult $50,000.  That money will find its way to the banks from 80% of the people who receive it.  The banks get their money and the PEOPLE get a chance at a fukkin' future.  It's win-win, as they say.  Right now, that deck is stacked and it most certainly is not in our favor.  With my way, everybody has a chance at making themselves at least partially "financially whole" again and can go on with the lessons learned.

  •  My husband and I got the same letter (2+ / 0-)
    Recommended by:
    gmb, ladybug53

    the day before yesterday.  My rate went up to 14.95 %.  Of course, I will no longer use the card.
    Thanks for the diary.  I had decided not to call, but to take out a lower interest loan to immediately pay off my balance.  Now I think I will call to reject the changes also, since I had no longer planned to use my card anyway.

    One cannot deny the humanity of another without diminishing one's own. James Baldwin

    by CarolynC967 on Mon Apr 06, 2009 at 07:24:25 PM PDT

    •  I tried calling my credit union to see what a (0+ / 0-)

      payment on a personal loan would be. The problem is that, while the rate was lower, the monthly payments would be double. So instead I just called and wrote to BofA to reject the changes. Since I don't use the card anyway it was the best decision for me.

  •  BoA... (3+ / 0-)

    ...has the perfect right to raise your rate per the agreement that you signed with them, so it strikes me as odd that so many people find their behavior to be outrageous.

    They are raising your limit to deter you from using the card and encourage you to pay your existing balances down faster.

    See my diary on Credit Mard Myths.

    •  I saw that post (1+ / 0-)
      Recommended by:
      Sparhawk

      and I can understand why the would want debt off the books. I understood that "I signed an agreement", but I paid on time and haven't increased the balances. I find it odd that they would single me out for a raise when I've been a "responsible" cardholder. I'd understand more if I were increasing my balances and not paying on time.

      •  Everyone is a risk (1+ / 0-)
        Recommended by:
        krnewman

        You yourself said you've been unemployed recently, and have loans out against assets to pay off existing card balances.

        What if you become unemployed again (as is from their point of view, likely in this economy)? Might you become a serious default risk, with a lot of debt already?

        I'm not just picking on you; everyone is a default risk in this environment. All CC companies are pulling in limits on all their customers. It just doesn't make sense to lend money in a deteriorating environment like we're in.

        •  I was unemployed between 2006 and 2007 (0+ / 0-)

          but I now have a very secure job.

          •  Sure (0+ / 0-)

            But you can understand why the CC company in this environment isn't just going to operate on your say-so. In fact, a human being probably doesn't know you exist at that company; it's all done by computers.

            •  Even when I was out of work, though, against all (0+ / 0-)

              odds, I kept all the accounts current. I paid all the accounts on time.

              •  If... (0+ / 0-)

                ...you are still running those other loans, you almost certainly don't have the cash to pay them off, which means you have little or no cash on hand (most likely). This is very dangerous from the POV of the credit issuer: many, many people who have never defaulted are now defaulting. If you did lose your job, lived on credit cards, didn't have the cash to pay them...

                I'm not saying you did anything wrong here, but nor am I saying that their actions are particularly unreasonable. Just try to understand it from their perspective. They do not want you to default, and for every one of you, there's five other people that look like you that are serious risks. By raising your rate, they can call in your loans now and force you to pay them down, rather than watch you sink under the weight later and default.

                •  Actually my cash reserves are rising every (3+ / 0-)
                  Recommended by:
                  Sparhawk, theran, iBlue

                  month. One of them my loans is a secured loan against investments that I liquidated. I put the funds into a savings account and took a loan against them. I'm literally paying myself back every month. And even though there is a loan against the funds in the savings account they're gaining interest as if they were not borrowed against. So literally my interest rate on that loan is around 3%. I did take a loan out against my car too, but that is current and on time.

                  The key is that both of those loans are secured. If I were to default the credit union would simply take the balance of money in the savings account and use that to make up for the loss of the bad loan. If I defaulted on the car they'd simply sell the car and come out fine.

                  I do have a personal loan with the credit union but I'm aggressively paying it off. The only other "unsecured" debt that I have are two balances on credit cards, but I'm steadily taking them off the books.

                  In about a year or two, combined with raises from work, I should be able to further reduce those debts. As I said I work in a very secure job.

                  •  "I pay a dollar or two above the minimum" (0+ / 0-)

                    is the more significant fact.

                    As God is my witness, I thought turkeys could fly.

                    by ticket punch on Mon Apr 06, 2009 at 09:06:32 PM PDT

                    [ Parent ]

                  •  I got a letter like that today, too. (0+ / 0-)

                    I pay my balance off in full every month. My card is thru Working Assets which uses BofA - but there is no mention of WA on the letter - just a snotty letter like yours.

                    I have no other debt except a home mortgage and pay other bills on time, every month.

                    I figure they're just trying to get it from the taxpayer at both ends - from their cardholders and from us tax payers, too.

                    Thinking of Joe Biden a bit, here.

                  •  And I don't get this part at all: (0+ / 0-)

                    One of them my loans is a secured loan against investments that I liquidated.

                    If you sell the collateral, the loan is no longer "secured." Does the bank know this?

                    I put the funds into a savings account and took a loan against them.

                    Loan upon loan upon loan. Balance transfers to shuffle the debt around. Minimum payments each month and little more. On whose advice were these actions taken?

                    I keep reading these claims of financial prudence, but I am just not seeing it.

                    As God is my witness, I thought turkeys could fly.

                    by ticket punch on Tue Apr 07, 2009 at 05:07:53 AM PDT

                    [ Parent ]

                    •  No (0+ / 0-)

                      I sold my investments and put the proceeds into a savings account at my credit union. My credit union allows people to take out loans against their savings account at very low rates. So if I default they basically keep the cash that is in the savings account. They call it a shared secured loan. These monies are not in the stock market.

                      Actually, since I financially reorganized late last year, I've already cut my debt by several thousand dollars.

        •  Not True... (0+ / 0-)

          All CC companies are pulling in limits on all their customers.

          Within the last month, I've had about $16000 additional credit offered to me by Chase. And they gave me $200 to open a business checking account which will be free of monthly fees because they gave me a linked business credit card as well. That's in addition to the business CC I already had with them.

    •  But Sparhawk, generally, if someone is in a (0+ / 0-)

      position that makes it harder for them to pay, but they are working hard and paying, raising rates only makes it more likely that they will default, imo.

      •  Or more likely that they'll pay YOU off first (0+ / 0-)

        in order to avoid the higher rate. If you're a creditor, that's your priority: to get paid back.

        Our diarist reports paying the minimum plus a buck or two each month. We'll see what happens now.

        As God is my witness, I thought turkeys could fly.

        by ticket punch on Tue Apr 07, 2009 at 05:01:28 AM PDT

        [ Parent ]

  •  me too--there's some way to protest, and I'm goin (0+ / 0-)

    going to follow through...eerrrgh!

    Find your own voice--the personal is political.

    by In her own Voice on Mon Apr 06, 2009 at 07:53:20 PM PDT

  •  Be sure and read the fine print on your notice. (0+ / 0-)

    You have to send the letter to a different address than the usual one.  And your refusal and rejection can only concern that topic--no others.  I've done this four times.  

    Also, be sure that you don't have any automatic payments on the card before you do it.

    I got a weird Discovery happening.  I usually like them, but they sent a letter saying how i had managed my credit so well they were raising my credit limit, then in a separate letter, they raised my rates to above 12%.

    Meanwhile, everytime i get a lot paid off on my BofA cards, they cut my available credit.  Never been late, always paid.  Was overlimit once because they didn't alert me, just let me keep charging at a wedding, which was years ago.  Continuous paying off since then.

  •  Don't be angry (0+ / 0-)

    a. it's nothing personal
    b. it happened to lots of people
    c. they simply don't want you to use your card. You don't understand, you are assuming they want you or anyone else as a customer. They don't. The US has $2 trillion dollars of potential credit card debt still out there. They want to call it all in before they get left holding the bag. You are more of a potential liability than a current assett. We all are. It's nothing personal, they have no choice.
    d. happened to me, too, I came home tonight and got the same letter
    e. my interest rate went higher than yours and I have a higher FICO, if that makes you feel better, but it's kind of moot since you won't be making any charges on it and neither will I and it doesn't affect any promotional balance transfer rate you might have got.
    f. this is the second wave of the credit card contraction. At the end there will be close to no credit card credit available to anyone in the country. In about a year or so. Not worth getting upset about it now.
    g. I saw this coming from about 5 or 6 years out, and it has all been quite predictable, steady, inevitable. It's not TEOTWAWKI. Other stuff is, maybe, but this is just a sideshow, a footnote.

    Any questions?

  •  I literally don't know my interest rate (1+ / 0-)
    Recommended by:
    polar bear

    actually because I always paid in full and get cash back.

    •  Same here (1+ / 0-)
      Recommended by:
      iBlue

      Absolutely no clue.  I actually argued for a higher rate when applying for a card- they would give me a better deal in terms of rewards if I had a higher rate.  Fine by me: I'll take the extra cash and still pay them no interest.

  •  My card went from 9.9% to 17.9% for difficult (0+ / 0-)

    economic times or some such shit story.  I have a Capital One card and always make about 5 times the minimum payment on time!

    Fortunately, I do not have a large balance so they will get practically nothing from me even at the higher interest rate but this will be devastating for people who have large balances.

    Since the new bankruptcy law was passed, credit card companies know that no matter how high they make the interest rate, people cannot get out from under that debt.  And, at the obscene interest rates they are setting, people will owe double and triple what the original debt was.

    I call for pitchforks soon!

    •  it's typical short term thinking = they never (2+ / 0-)
      Recommended by:
      twinpeaks, polar bear

      learn...

      having booted people from their houses, now they plan to boot them from the money economy - it will be handout city from now on.

      What's the idea behind 30% interest rate - usury is all it is.

      How did Congress authorize such a rate. Awful...

  •  This is happening to everybody... (1+ / 0-)
    Recommended by:
    polar bear

    I don't have credit cards, just a bank debit card (thank heavens), but my DH has several and so does my sister. Both have paid compulsively and have been very good customers. DH got notices of rates going up to 29.99%. He refused the change and is paying off the cards. Sister did the same thing.

    I think they may be gambling that more people will stay with the cards and wind up hooked for super-usurious rates than they will lose. Fewer accounts to service, but way more money.

    That, or they're afraid everyone's going to bankrupt on them and they're trying to rescind credit.

  •  Capital one is the worst...They charged me (1+ / 0-)
    Recommended by:
    polar bear

    an annual fee out of the blue when I had their card for several years.  I paid it off and was paying the balance in full.  Once they stopped getting interest from me they charged me $25 annual fee.  I called to ask them to waive and they refused.  I tore up the card and told them to cancel my card.  It hurt my fico score for a short time but my fico score shot up above 700 after i got another card and made timely payments.   I plan to close all cards I don't use because I don't plan to refinance my home  or borrow to buy anything.  I plan to have just my credit union visa and my gas card both I pay in full each month.  

    •  Close only the accounts with an annual fee. (0+ / 0-)

      You can say you'll never need them, but you can't guarantee that. Don't cut off your nose to spite your face. If you want to punish them, you'll accomplish more by hanging around and doing nothing.

      As God is my witness, I thought turkeys could fly.

      by ticket punch on Tue Apr 07, 2009 at 05:10:07 AM PDT

      [ Parent ]

  •  me (1+ / 0-)
    Recommended by:
    polar bear

    got that same letter today. i also try to pay-off every month, never put a transfer on there, never did cash/check advance, have used this card for like 10 years. i just make ordinary purchases, and then pay them off.

    but they actually began messing with me almost two years ago--they push my due date by as many 3 to 7 business days routinely and that bill shows up with about 24 hours to get the check mailed or it will be "late" and cause the $40 penalty fee even when the amount due on the bill is $15, so at least once every couple payments, my check arrives a day or so late and i get hit with the fee (happened this month, in fact--got the statement last Saturday, suddenly due the 1st, when last month it was due on the 5th.)

    this interest rate rise is the last straw for me. i'm going to call for a pay-off balance and to complain, and then cancel the card. i don't need to play these silly games. other cards, like Discover or whatever, give you credit for being a good customer, instead of punishing you.

    éí 'aaníígÓÓ 'áhoot'é

    by Librarian on Mon Apr 06, 2009 at 11:56:14 PM PDT

    •  Keep track of your credit card due dates (1+ / 0-)
      Recommended by:
      polar bear

      If you haven't received a statement by 7 days before the check is due, send them a check. Call to get the payment address if necessary.

      Make sure to note your account number on the check as well as on a letter -- all you need to do is (legibly) scrawl "Credit $XX to account XXXXX" on a piece of paper and include your name and billing address.

      HSBC is the worst, I've had to do this several times with them the past year. But they always get the check on time and properly credit it to the account with no late fees.

      Don't use the "pay by phone" scams - that will cost you an extra $15 each time!

      "Some people pay for what others pay to avoid." -- Howard Devoto

      by droopyd on Tue Apr 07, 2009 at 12:13:36 AM PDT

      [ Parent ]

    •  If you have a BofA checking account, (0+ / 0-)

      set up online bill pay to pay the mininum when the e-bill comes in. That way you won't miss it. And you can always pay more on some other day.

      As God is my witness, I thought turkeys could fly.

      by ticket punch on Tue Apr 07, 2009 at 05:03:59 AM PDT

      [ Parent ]

  •  check out my email thread with them (0+ / 0-)

    Dear Charles A. Meek,

    Thank you for your inquiry dated 4/9/09 regarding the interest rate. We
    are happy to assist you.

    The interest rate will be change on 05/01/2009.

    We apologize for any inconvenience this may have caused. We value you as
    a customer and appreciate your business. If we may be of further
    assistance, please contact us again by e-mail. Thank you for choosing
    Bank of America.

    Sincerely,
    Angel Balderas, Bank of America

    I am not facing hardship, I want to know when your company is going to
    jack up the interest rate on my card before I leave.

    ---------Reply Separator---------

    Dear Charles A. Meek,

    Thank you for your inquiry regarding your Annual Percentage Rate. We are
    happy to assist you.

    We at Bank of America understand the hardships many of us are facing. We
    encourage our customers to make wise decisions with finances and
    reconfigure financial planning for a better balanced personal budget and
    a better tomorrow.

    We recommend you contact us directly at 1.800.732.9194 to determine if a
    lower APR is available. If you are outside of the United States, please
    call us collect worldwide at 1.888.801.3723 and request to be
    transferred to the number above. We are not able to change interest
    rates through email request.

    Please be assured that we know your time is valuable and would not
    direct you to contact us by telephone unless absolutely necessary.

    We value you as a customer and appreciate your business. Thank you for
    choosing Bank of America.

    Sincerely,
    Saul Sanchez, Bank of America

    Daytime Phone#: (860) 436-9116
    Evening Phone#: (860) 436-9116

    Message text: When is your company planning n raising the interest rate
    as reported on the news. I would like to transfer my balance to another
    company before this happens, again. It is pretty pathetic that a company
    that I as a taxpayer help fund your bailouts, is going to be gauged
    again. And please don't offer the opt-out option, it just ruins my
    credit score.

    Thank you

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