U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 04-10-2009, 04:55 AM
 
Location: Charlotte, NC
7,041 posts, read 12,618,977 times
Reputation: 2312

Advertisements

Your boa issue was on the news!!
Quick reply to this message

 
Old 04-10-2009, 06:44 AM
 
Location: State of Being
35,886 posts, read 64,018,302 times
Reputation: 22239
Quote:
Originally Posted by Gosox05 View Post
I don't know how they can get away with what they are doing. I'm going to open a checking account with another bank and slowly make the transition. Anyone know of a bank that is treating their customers Fair?
Well, I checked out the Mecklenburg Credit Union. Here is their website. I have not opened an account with them but think I may do so for my son, so he will have access to lower car loans when that time comes. I do not bank w/ BofA, but if I did, I would be transferring my account some place.

https://cmcu.org/index.asp
Quick reply to this message
 
Old 04-10-2009, 06:48 AM
 
Location: State of Being
35,886 posts, read 64,018,302 times
Reputation: 22239
Quote:
Originally Posted by chicagocubs View Post
Your boa issue was on the news!!
Yep. And I am not the only person upset. We all know that the banks managed to get Congress to allow them the RIGHT to do all kinds of things to us consumers. They have loopholes that allow them to do things like raise credit rates on consumers who have never missed payments. That doesn't make it RIGHT, tho.

I can totally understand that rates are raised when a consumer is late on a payment. I get that! BUT I FOLLOWED THE RULES - AND THEY CHANGED THE RULES. People all over the country are angry. It is not right to gouge people when they followed the rules that the banks themselves outlined! Just b/c they were able to put loopholes in, i.e., we can change the terms of this account for ANY REASON - that is not fair business practice and someone should call it what it is - DRACONIAN.
Quick reply to this message
 
Old 04-10-2009, 08:16 AM
 
Location: Huntersville
1,852 posts, read 4,510,337 times
Reputation: 524
Quote:
Originally Posted by sheenie2000 View Post
Check out the movie 'The International.' I think you might find it interesting. I'm curious to know your thoughts on it, since you're on the other side of the spectrum in regards to the banks.
I wanted to rent that.. Clive is pretty cool..

But before you say I am on the other side.. I would say I am more in the middle. I don't like what they are doing. I am just trying to understand it before I run in with my pitchfork. In my previous posts I went over that, so I won't repeat, but it's a change in business model, that is going to screw over the customer. As the customer we have the right to move and those who can or want to ... should. If enough can move they may have to re-think their business model. It may be too late, they may burn too many customers, who knows. But they also know their main competition is doing it, Wells, Capital One, Chase, etc... The local places may be safe, right now, but don't think you will be immune by going local, they could easily do the same thing to you. I canceled a local bank account in texas because they did some funky stuff, BEFORE the chaos.

Legally they can do this, and they can only effect your new balance, though they are busting credit limits too, which is ruining people's percantage of credit to amount of debt ratios (thats what ticks me off more, not the higgher rates). Could they have commucated it better, absolutley. But it is a burned if you do, burned if you don't scenario, i guess.

Lastly, I don't want anyone to think I am not both sympathetic and empathetic to the comments of people on here. I feel deeply for the plight of the consumer, I been involved in several issues regarding consumer fights. With my background I sometimes have an advatage with companies like this. I have several family members running in money issues, job issues, etc. Mind you, its not like I am well off and sitting on perch over looking this mess, my brain thinks it must understand things. I want to understand the processes and thinking behind things. I know Upper Bank Management isn't sitting up there like the guys in Mary Poppins, wringing there hands on how to screw the consumer. Yes they want to make money, want business does not. If your cost of goods were going up or your customers were defaulting, wouldn't you re-assess your risks and try to cover your collective "assets". Just like in Florida after all the hurricans or in Texas after huge amounts of hailstorms, home insurance companies pulled out, they couldn't afford to be in that business anymore or had to charge super high rates. Even if you had never made a claim before.

Thank goodness we have alternatives, unlike cable, phone, water, gas, schools, highways, gov't, etc. Where as a citizen consumer we are stuck. I love when people choose with their wallet! That is our power, use it your advantage.
Quick reply to this message
 
Old 04-10-2009, 11:09 AM
 
Location: Boone, NC
1,155 posts, read 3,048,847 times
Reputation: 282
Quote:
Originally Posted by Gosox05 View Post
We need to boycott BOA when this recession is over!

Let's find a bank that is treating their customers fair. Any suggestions?
Why wait?? I've already done it and urge others to as well.

Quote:
Originally Posted by Gosox05 View Post
I don't know how they can get away with what they are doing. I'm going to open a checking account with another bank and slowly make the transition. Anyone know of a bank that is treating their customers Fair?
I transferred my checking account to First Citizens. I live in Boone, so not sure about First Citizens locations in Charlotte or other areas. So far I've had great customer service - very personable. I don't know anything about their loan or credit card rates (not in the market for either of those at the moment), but their basic checking account has no fees and I even got some free checks.
Quick reply to this message
 
Old 04-10-2009, 11:18 AM
 
Location: Chattanooga, TN
616 posts, read 1,512,801 times
Reputation: 301
Default First Citizens

Quote:
Originally Posted by jdljr View Post
Why wait?? I've already done it and urge others to as well.

I transferred my checking account to First Citizens. I live in Boone, so not sure about First Citizens locations in Charlotte or other areas. So far I've had great customer service - very personable. I don't know anything about their loan or credit card rates (not in the market for either of those at the moment), but their basic checking account has no fees and I even got some free checks.
I banked with First Citizens when I moved here in fall 2007. They treated me well, but I had the chance to go with Wachovia through my employer. I also wanted more ATMs available to me. Lately it seems there are more First Citizens locations around the Charlotte area, so they might be more convenient than before.
Quick reply to this message
 
Old 04-10-2009, 11:52 AM
 
Location: Way up high
14,062 posts, read 19,679,212 times
Reputation: 14269
We bank with FC. Haven't had an issue yet.

AB-There are more FC popping up everywhere.
Quick reply to this message
 
Old 04-10-2009, 12:04 PM
 
Location: Ayrsley
4,714 posts, read 8,083,761 times
Reputation: 3809
Quote:
Originally Posted by Gosox05 View Post
We need to boycott BOA when this recession is over!
And that will not hurt the "big guys and gals" that have everyone so ticked off if masses boycott BoA. If a boycott were to do any damage at all, it will just put a lot of low-level employees out of work.
Quick reply to this message
 
Old 04-10-2009, 02:27 PM
 
3,651 posts, read 7,985,470 times
Reputation: 2740
Quote:
Originally Posted by drew0020 View Post
As a stockholder of BOA at $2.66 I am happy with these decisions because they will boost profits for the bank.
I doubt it. With rates like this people will pay off quicker and/or end their cards/accounts with the given bank in droves. The many replies you see here of people doing exactly that is but a small sample.

IMO it's a hideously stupid idea. Hey we want you to use your credit card.....so we'll jack up rates.
Quick reply to this message
 
Old 04-13-2009, 10:39 PM
 
Location: North Beach, MD
65 posts, read 135,793 times
Reputation: 35
Unfortunately this is the case when you let banking become so privately run; not to say that the govt couldn't do the same thing and didn't necessarily influence things, because the cyclical regulation changes sure didn't help one bit, but this mess went a lot further than it should've because the industry was afraid to realize that the growth wasn't going to remain linear.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top