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It really makes little difference because for somje reason they see you as a customer not worth servicing your account.You never said now much you charge each month on that card. You alos need to realise that banks are starting to look at income verus debt and tatal credit line you have on that income. just drop the card and take the tempoary hit on credit.
It really makes little difference because for somje reason they see you as a customer not worth servicing your account.You never said now much you charge each month on that card. You alos need to realise that banks are starting to look at income verus debt and tatal credit line you have on that income. just drop the card and take the tempoary hit on credit.
I used the BOA card for reimbursable business expenses which vary from less than $100 to a bit over $1500 per month. I use my other card for personal expenses.
I canceled the BOA card this a.m.
How would they know my income? I use a credit union which is not affiliated with my mortgage or my credit cards?
Im another one that had the $59 fee charged to my card this month. I've never missed a payment and they have had no problems with me. I had Fleet Bank for many years and then in 2005 they were taken over by BOA. I would cancel the card as well as other banking with BOA right now, but I am moving late this year and don't want to change banks until the move is over. I did notice when I called about the fee the employee amost immediately wanted to know would I like to cancel the acct. I mean could they make it any more obvious they are trying to rid the bank of accts. Even those accts that have paid their bill on time or don't carry much of a balance. I told the employee "No I will keep it open for the time being just to annoy BOA" and hung up.
I wanted to add I hope I live long enough in life to see BOA completey collapse. I can't wait to be rid of them, and think I will go for a Credit Union when I do get to change my banking
I have been a card holder since 1995. Always pay on time and typically always pay off at the end of the grace period and they charge me $59 fee due to the costs of maintaining my account. I read on the Internet and see this was announced in 2010 due to low profitability on clients who payoff their balances every month. I am being penalized for outstanding behavior. This is for Visa Platinum Plus and similar folk. $35000 credit line.
I canceled with them today.
I guess the percentage they chart the merchant for the transaction is not enough.
I would close all BOA accounts ASAP. BOA is the worst bank I've ever dealt with. Many feel the same way. How much is that CC doing for you that it's worth it? I.e. are you getting a great amount towards points or cash back...?
Im another one that had the $59 fee charged to my card this month. I've never missed a payment and they have had no problems with me. I had Fleet Bank for many years and then in 2005 they were taken over by BOA. I would cancel the card as well as other banking with BOA right now, but I am moving late this year and don't want to change banks until the move is over. I did notice when I called about the fee the employee amost immediately wanted to know would I like to cancel the acct. I mean could they make it any more obvious they are trying to rid the bank of accts. Even those accts that have paid their bill on time or don't carry much of a balance. I told the employee "No I will keep it open for the time being just to annoy BOA" and hung up.
I wanted to add I hope I live long enough in life to see BOA completey collapse. I can't wait to be rid of them, and think I will go for a Credit Union when I do get to change my banking
its all about what the competitors do. money loves a vaccum and if your competitors do it eventually they all do it.
rember when atm fees were .50 cents?
I believe you're right.
Eventually all banks will charge their "convenience users" (those that pay in full each month) an annual fee. If that happens...I guess I'll just have to pay it....the convenience of credit card use is worth 5 bucks, or more a month to me.
My cards are all issued through credit unions however, and I suspect they would be the last to start charging an annual fee to convenience users, being non-profit, and all...
Eventually all banks will charge their "convenience users" (those that pay in full each month) an annual fee. If that happens...I guess I'll just have to pay it....the convenience of credit card use is worth 5 bucks, or more a month to me.
My cards are all issued through credit unions however, and I suspect they would be the last to start charging an annual fee to convenience users, being non-profit, and all...
It makes sense if the person charging and paying off monthly didn't charge much. WE use our main cards A LOT, and spend 800-1600 a month on both. I can't see us getting hit with fees.
Yet. Sooner or later they may have to go back to that route. And yes -- we'll pay it. We have a business, and we can write that off.
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