Bank of America soon to start charging annual fee to some credit card holders

United States
November 2, 2009 7:44am CST
I just read an article online that stated that Bank of America will begin charging some of its credit card customers an annual fee starting next year. This will include those who have "no annual fee" credit cards. Supposedly, not everyone will be charged an annual fee; just certain accounts that Bank of America will pick and choose for whatever reason they see fit. They are calling the new annual fee "experimental" and they will "see how it goes". I suppose if it makes them more revenue they will continue charging the annual fee indefinitely. Reading this article made me so angry. Americans are getting hammered with interest rate hikes by the credit card companies as it is. I know some people with 30-something percent interest rates on their credit cards. It is unfair that many will have to pay an additional $25 to $99 a year, especially if they originally signed up for a card with no annual fee. If that isn't false advertising, I don't know what is! It appears that Bank of America (and many other banks who issue credit cards) intend to pay off the bailout money by charging their loyal cardholders more fees. Everyone, especially those who are Bank of America cardholders, please discuss this.
1 person likes this
3 responses
@kingparker (9673)
• United States
25 May 11
I notice that your discussion was 2 years ago, and now, it is 2011, and I can take proof of your discussion actually came true. Not long ago, I received a letter from Bank of America credit card, notifies me there will be $59 annual fee charge to my credit card. Oh my God, I still owe them a lot of money on that card too. They will threaten me if I default one payment, or make one late payment, they will definitely increase the Interest charge. I want to cancel my account with this card, definitely.
@kingparker (9673)
• United States
6 May 11
You know what, it become a truth, and I was one of the victim of bank of america experimental mouse. That is really something that I can't tolerate. We have to pay our tax money to save those mega giant bank, and now, we simply let them take advantage of us. That is BS. I would close my account for sure. I just have to find another better credit card to have business with.
@Hatley (163781)
• Garden Grove, California
27 Dec 09
HI A newlevel i am a Bank of America user but hurray I have no credit cards, only use a debit card that is paid up always so hurray for my side. all I have to pay for right now are some blank checks that I need.