STFU, Conservatives
Note for Bank of America customers

Sent by an anonymous reader:

I’d heard some Bank of America employees were threatening customers with increased credit card interest rates if they closed their checking accounts, so I consulted my friend who works closely with the BoA credit card department to get the scoop firsthand: 

“Closing your checking account doesn’t trigger any sort of automatic review or change to the terms of your card. Similarly, closing your card doesn’t change anything either. However, they do recheck your credit every 6-12 months to see if you still “qualify” for the limit and interest rate you’re getting. Also, if you close the card before you finish paying it, they will not negotiate a lower or better rate or terms for you. If you keep it open, there is the possibility that they will do that. And the only way now that they can raise your interest rate is if you are delinquent on payments and they notify you ahead of time that they do so.” 

I just wanted to let others know so they won’t be threatened or intimidated into keeping their accounts open.

FYI!

Posted 1 year ago
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