Bank of Stupidity, woops, America
The major credit-card lender in mid-January sent letters notifying some responsible cardholders that it would more than double their rates to as high as 28%, without giving an explanation for the increase, according to copies of five letters obtained by BusinessWeek. Fine print at the end of the letter—headed “Important Amendment to Your Credit Card Agreement”—advised calling an 800-number for the reason, but consumers who called say they were unable to get a clear answer. “No one could give me an explanation,” says Eric Fresch, a Huron (Ohio) engineer who is on time with his Bank of America card payments and knows of no decline in the status of his overall credit.
Now the kicker of it all
This is what employees have internally on their email too:
best interest!
I inquired about the quote and here is the response I got:
We were told to put that on our emails from Liam (the number 2 guy at
BOA)
He wants all the leaders to be reminded of it everyday
Tags: bank of america
I despise B of A to a degree shared by no other company. My mortgage is held by Countrywide and I cringe more at the thought of B of A taking it over than the previous concerns I had with Countrywide.
I’ll read that link in a minute, but I’m kind of hoping that was a fucktard moment of theirs and not a “your in until you opt out” method of jacking up revenue.
uh nope, it’s called repricing
Oh my … God. They suck, they really really do. I just finished reading that. I expect crap from the top of B of A, but even this has me in shock. I can’t even curse, because I’m mumbling so bad.
What a POS B of A is.
Tyler Durden: Do you know what a duvee is?
Narrator: It’s a comforter…
Tyler Durden: It’s a blanket. Just a blanket. Now why do guys like you and me know what a duvee is? Is this essential to our survival, in the hunter-gatherer sense of the word? No. What are we then?
Narrator: …Consumers?
Tyler Durden: Right. We are consumers. We’re the bi-products of a lifestyle obsession.
Tyler Durden was right.
That was from Cal Thomas, as linked to by It’s-His-Fault Burris.
BTW, there is a wider point to that statement, it wasn’t to say that people shouldn’t buy things. I felt if flowed from VC’s comment.
Don’t
Use
Credit
Cards
If you want a big screen TV, go to Grottos and have a beer while watching theirs; its a lot cheaper.
don’t go to grotto’s go to Grottino’s! 🙂
grotto’s is too expensive.
haven’t we had this discussion before?
Cal Thomas is a dogmatic conservitive moron.Telling us we spent too much already . A 10% drop in consumer spending in 1930 plunged us into the Great depression. Like most people that call themselves the C word he knows nothing about capitilism except how to destroy it.