Thursday, October 8, 2009

Consumer Revolts Over Increased Credit Card Fees

I liked this story about a woman who took on Bank of America after they increased her credit card rate to 30% after she was late on one payment in 2008 and a second in 2009. After she launched a widely distributed youtube video, Bank of America agreed to reduce her rate to 12.99%. It is a shame that consumers have to go to such lengths to get a favorable bank response. Here are the videos before and after the renegotiation:




- JSM

1 comment:

soniya kharadi said...

Ya thats True!!! Pepole pay fantastic Amount to credit card companies But many credit card companies slashing credit limits, rising interest rates and increasing fees.So You have to be very wise & careful while using credit card.