I ran across this video and it reminded me that I was supposed to write a quick piece about how BAC recently DOUBLED the interest rate on my credit card, despite the fact that it was assured to be a fixed rate forever. The only way it would increase would be due to very high general interest rates or late payments.  I have had the card for over 6 years and have never been late.  In fact, I almost always pay off the balance in full each month. 

When I asked the representative, why my rates were doubled, she said because "funding costs have increased."

In other words, the cost for the bank to borrow money have gone up.  Of course, she didn't know any better.   She only repeated what she was told.  You can imagine I lectured this girl for quite some time.  In fact, by the time I finished (20 min) she was ready to quit her job once she realized how the banks have raped consumers. 

I've hated BAC for many years due to several incidents that you would find difficult to believe. In one case, the bank actually stole $300 from my account and would not return it, most likely due to stupidity.  Do I need to discuss how brainless most of these bank employees are? 

I closed my checking and saviings accounts there several years ago.  I only had a credit card with them because they bought MBNA.  My credit card is now in the trash. 

Going forward, I plan to find a way to get by without banks.  As you know, it's very difficult especially if you travel or run a business. Things will be more of a burden but I WILL find a way; no bank accounts, no debit cards, no credit cards.  I suggest you do the same if possible.  I'm sure everyone has their own stories about at least one bank that makes your blood boil. 

Anyway, have a look at this video.  I urge you to never do business with BAC.  It is poorest run, biggest POS company in America.

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