jacked up my interest rate to a whopping 30% APR

BANK OF AMERICA sucks!! Will admit I have a savings account with them, just to have local bank access, such as notary etc. But that's it, I would never use BOA for my primary banking.
 
Dino said:
What I took away that I never considered is in Bold and Red below. Thoughts.

Bank of America cuts customer's rate after YouTube rant - Sep. 29, 2009

NEW YORK (CNNMoney.com) -- "You are evil, thieving bastards."

That's just one of the scathing comments from Ann Minch, a disgruntled Bank of America (BAC, Fortune 500) customer who says in a YouTube video that the bank "jacked up my interest rate to a whopping 30% APR."

Her rant went viral, and Minch says the bank scaled her rate back to its original 12.99%. Bank of America did not immediately return a call for comment.

The video, titled "Debtor's Revolt Begins Now!," has been streamed about 350,000 times and earned a five-star user rating since it was posted on Sept. 8.

In it, Minch claims she wasn't over her credit limit and hasn't been late with payments, despite the fact that she doesn't have a full-time job.

She says she tried to negotiate with Bank of America, where she has been a customer for 14 years, "but they weren't willing to negotiate anything."

"I could get a better rate from a loan shark," she adds.

True to her YouTube handle, Rockerchic4God, Minch sports fiery red hair and kohl-rimmed eyes that glare into the camera for the duration of the 4-1/2 minute video.

"You have reaped ungodly profits in your behemoth casino scams, then lost, only to turn around and usurp the wealth of this great nation by the outright rape and pillage of middle-class Americans whose sweat and toil built it," she says.

Calling the bailout "the biggest rip off in the history of the world," Minch lays out her terms: If Bank of America refuses to reinstate her previous, lower interest rate and monthly payments, she won't pay "one more red cent on your 30%."

Minch tells her viewers that she is "willing to sacrifice [my credit score] in order to take a stand for what's right," and she calls on them to join her in an "American debtors' revolution."

"Stick that in your bailout pipe and smoke it," she says, smirking.

A response
Minch attracted a lot of media attention, and word of her crusade apparently got through to one of Bank of America's top brass. In a follow-up video posted Sept. 19 Minch says Jeff Crawford, the bank's senior vice president of existing customer credit services, called her to discuss her concerns.

He told her that she had two late payments, which was why her rate was hiked, and he tried to convince her to agree on a 16.99% interest rate.

Minch replied that Bank of America is receiving "money from the Fed at 0% interest ... 12.99% is a more-than-generous profit margin." Crawford agreed to that original rate, although Minch says her most recent online statement shows a 23.99% APR.

Still, the credit-card crusader is significantly more subdued in her follow-up video, in which she updated viewers about her predicament and noted that Crawford "was very polite."

But Rockerchic4God isn't completely mollified. She's launching a Web site at DebtorsRevoltNow.com, and says her next project is "a tax revolt."

"That won't involve anybody having to go to jail for not paying their taxes," she says. "There's a way around that, so stay tuned."

Minch's original video has spawned more than 5,000 comments -- some praising her, others condemning her "revolt." One detractor, billb0313, writes: "Banks need a bailout b/c people like Ann defaulted on their unsecured loans left and right."

Other posters are in Minch's corner. "You're not alone," writes tommosm. "[My] Chase is at 33% ... I'm paying more in finance charges than the minimum payment."

What do you think? Tell us by posting your own comment below.

First Published: September 29, 2009: 11:32 AM ET
Click to expand...
30 PERCENT???? LOL... like a mob loan? the sharks are swimming.
 
10 yr old thread.....

Fish .png
 
atlbusa said:
When are we supposed to stop replying to them? sorry fill me in so I won't comment on older ones. Just not sure of the expiration date. Thanks for the help. :crazy:
Click to expand...

A game Red Bull and I play-he gets it....:D

It's not a new game.

Some threads very much have relevance after many years whereas others-well don't.
 
atlbusa said:
BANK OF AMERICA sucks!! Will admit I have a savings account with them, just to have local bank access, such as notary etc. But that's it, I would never use BOA for my primary banking.
Click to expand...

I'd love to hear why you dont like BoA. I'm an employee there, if you have any complaints they have what's supposed to be a white glove service that I can refer you to. Product specialist or whatever you may need to resolve an issue I can have someone call you within 3 days at a time you choose.

I'll say back in my younger days I hated the company, hated the fees they had and never thought I'd ever bank with them. I accepted a role 2 years back after being with JPMorgan for quite sometime. The way they treat their employees and how involved the bank is with local communities is something I admire about my company.

Anyways let me know how I can help out. I'll make sure to get someone who can do something to reach out to you.
 
04LE said:
I'd love to hear why you dont like BoA. I'm an employee there, if you have any complaints they have what's supposed to be a white glove service that I can refer you to. Product specialist or whatever you may need to resolve an issue I can have someone call you within 3 days at a time you choose.

I'll say back in my younger days I hated the company, hated the fees they had and never thought I'd ever bank with them. I accepted a role 2 years back after being with JPMorgan for quite sometime. The way they treat their employees and how involved the bank is with local communities is something I admire about my company.

Anyways let me know how I can help out. I'll make sure to get someone who can do something to reach out to you.
Click to expand...
They are too big. And they are just out to make money, I use USAA and Local credit union. BoA is convenient, but you pay for it. The local branch is good, I have no issue with the local service, but it is the company I have issue with. Such as one time I got a check that was a BoA, and I went there to cash it and it was a big deal because I did not have an account there. Can't remember if they wouldnt cash it or it cost me to cash it, but it didnt seem right. It was about 18 years ago. Just like I keep a savings account there, used to have to keep 300 in it or a 5 dollar fee for the month. Now it is 500, and if it gets below 500 at any time I get charged the 5.00
 
Yeah as much as I love BoA I use discover for a savings account for their higher rates. I'm no product specialist but there might be a different savings account they offer that might suit your needs better instead of having to tie up $500. If was you or a family member, thank you for your/their service!
 
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