isn't this bank of america offer special???

[onethatcares]

my wife recently paid off her boa card because of the terms they sent her as to raising her rate to 14.9%. She's had a $1.09 credit on the card for two months and called to have them send her a check for it. The nice customer service girl said she didn't have to opt out of her card due to the rise in the rate, because it would stay at 9.9 due to her fine credit rating with them and the 14.9 was for other people.

This is the first time in over 20 years we have no credit card payment to make each month and personally I LIKE IT ALOT. Now my question.


Should I tell her to trust the snakes?

[DesertFlower]

1. i don't know. we have discover and visa.

we use the cards for everything, doctors, dentists, gas, food. we don't pay interest because we pay the whole bill every month. we also get 1% cash back. so it works for us. we use them instead of cash.

i don't even know what the interest rates are.

[Better Today]

2. No, go local.

[Cronus Protagonist]

3. Put a balance on it and you'll be in jeapordy

They reserve the right to increase the rate at any time. That time will be when you have a balance.

[HipChick]

4. pay off your balance every month and get 0%

and keep a CU as a backup

[wryter2000]

5. Won't someone please think of the reptiles?

:)

Snakes are wonderful creatures, truly. They eat vermin such as rats and banksters. :evilgrin:

[Warpy]

6. Throw that sucker in a drawer in case of emergency

Trust me, you don't ever want to be beholden to some credit card company again if you can help it.

14.9% is a bargain rate for an unsecured consumer loan, though. It just felt insulting because you were getting a lower rate.

It doesn't start to become usury until it goes over 20%.

[dixiegrrrrl]

7. Didja get it in writing???

Then you can trust them as long as you pay your balance and pay it a week earlier than it is due.
And read your rate terms on every bill every month.

But, if you have a choice, why support the bank that ate this country?

[metapunditedgy]

8. I get 1% back every month on my credit-union VISA card.

I don't like VISA much (their rates are hard on mom-n-pop businesses, for which I try to use cash), but I bet the 1% back beats what you get from BofA. Shop around.