******Direct your complaint to the COC(address below)..BOA is scared of them, and the COC regulates BOA's actions. Also, send complaints to Senator Dodd of CT and Schumer of NY (both on Senate Banking Committe). All 3 have websites to send complaints too. You have to let them know and how it is impacting you to have any change in BOA's practices.

Comptroller of the Currency
Customer Assistance Group
1301 Mckinney Street, Suite 3450
Houston, TX 77010-9050

****TO ALL HERE: ********DIRECT YOUR COMPLAINTS TO THE COC***** (see address below, or their website) - BOA is scared of them and they regulate BOA...Also email or write to Senator Dodd (CT) and Schumer (NY) - both are ranking members on the Senate Banking Committee (they also have websites to direct complaints).....Nothing will change unless you let the ones in charge know about the abusive and unfair practices by BOA..

Comptroller of the Currency
Customer Assistance Group
1301 McKinney Street, Suite 3450
Houston, TX 77010-9050

I never get resolutions until I write to the COC....It also creates a public record by which BOA is evaluated compared to other banks by the Federal Regulators....too many complaints and more severe action is taken against the bank.

Also go to any revelent website and voice your unfair service with BOA so others know about BOA's practices....

Funniest part is I didn't get such a notification for a card that switched to 19.99% with no explanation, about a year ago.

Obviously, in this game the average Joe cannot win. Fixed rates will remain a thing of the past, belonging to the credit bubble era. I'm still making money off of BofA, but I can't say how long can this continue.

got my notices for my BofA cards and my Fidelity/FIA cards in the same week.

Jessie09 said:MY RANKING OF THE FAIREST BANKS TO THE WORSE:

JUNIPER (Barclays) (plays fair)
CITI BANK (plays fair)
CAPITAL ONE (unfair)

the following are all bad, but from bad to worse:
BOA
CHASE
HOUSEHOLD Bank

interesting rankings, I'm surprised Citibank ranks so highly

cancelled my account when I got my letter. My credit union has a fixed visa for 9.99 apr.

I got the rate change letter this past week. Fortunately, I basically only use the card (ex-MBNA) for BillPay purposes.

FIA is a wholly-owned subsidiary of Bank of America. It was renamed FIA from MBNA when BofA bought them in 2006. They are one of the largest card issuers in the US. Many banks and other financial institutions use FIA to issue their branded cards. FIA determines almost all aspects and decisions regarding the cards. Fidelity uses FIA to issue their AMEX and VISA cards which are popular for those with a Fidelity brokerage acct as they receive 2% and 1.5% cash rebate respectively.

BuLLitz said:blarp said:I received the same note and have placed a call to not accept the changes, close the account, and pay off the balance under the original fixed rate contract. All of the folks I talked to, and I have been on the phone for an hour said that I am not able to opt out of the amendment because the variable rate is no different than the current fixed rate. I tried to indicate that it was a change in terms that will result in future increases and they indicated that I don't know that. Are they kidding! How can they change the terns of an account and not allow the account holder to not accept the changes and close the account pursuant to the current agreement. This is wrong and it seems like a real semantic difference that indicates it is an amendment and not a change in the rate.

I just got that letter too. Here is what happened when I called the number on my card...

The person I talked to said it was the "risk department" that changed my interest rate to a variable rate. I don't know why that would be since I haven't been late. So they transferred me to that department... which didn't exist. I got disconnected.
So I called back...
This time it was a different person. He said that my APR can't go any higher than it is right now even though it is a variable rate. I called him out on that.
I said, where does it say that in the letter that there is a limit on my rate?
He said, it doesn't say that.
So I said, so you are telling me that I have a variable rate that will not go up? He said, you are already as high as it will go.
I said, how do I know that if it isn't in the letter? He said, because that is what I am telling you.
I said, if it doesn't say it in the letter I ain't buying it.
He said, well what do you want me to do?
I said...
CANCEL THE DAMN THING AND LEAVE MY RATE ALONE.
He said Ok.

In the letter, it specifically stated "An increase in the index means that you will pay higher periodic rate finance charges and have a higher Total Minimum Payment Due". It also says, "If the Wall Street Journal does not publish the U.S. Prime Rate, or if it changes the definition of the U.S. Prime Rate, we may, in our sole discretion, substitute another index".
SCREW ALL THAT!!!

I HATE BofA. Always have. My credit card account was originally with someone else but BofA purchased it.
I should have cancelled it years ago.
I have a large balance on the card and am going to pay it off ASAP so that they do not get any more interest from me.

WATCH YOUR ASSETS!!!
Run. Run Fast. Run FAR.

Does this mean Acct was closed at the current Fixed Rate and will not change to Variable?

I called to keep the Fixed rate but she said even if I close the acct, it will become variable so haven't closed it. Can someone confirm any success in keeping the fixed rate and closing acct.?

On a side note, couple of week ago, recd letter from RBS Citizens, N.A., stating that they are hiking the rate from 6.99% to a var which is currenly at 17.99% --OUCH! 11% hike from 10/2009. Called to see if I could close the acct and keep the current rate and pay the balance off. She told me economic conditions prompted the change and will apply to all current and future balances and closing the acct is not going to keep the current terms. When asked why wasn't given the option to reject the change in terms and close the acct, she responded, their acct agreements specify that they can change rates whenever they want. I haven't looked at the terms in the original acct agreements yet. Can anyone with CC from Citizens confirm this? I am not carrying a large balance, so I will just pay it off but would've liked to keep the balance at 6.99%.