ED Magedson – Founder
Bank of AmericaBox 15284 Wilmingoton, Delaware USA
Bank of America BankAmericard Minimum Interest Charged on NO Balance due! Wilmingoton Delaware
Bank of America is charging $1.50 Minimum Interest on accounts with no outstanding balance. They are charging from the closing date of billing to the date they receive your payment on any charges. I have always paid my bill in FULL every billing cycle for over 10 years. This is the first time they have done this to me! I have no interest on charges for purchases, balance transfers or any other interest charge, yet they bill me a MINIMUM charge for nothing!!!
I spent over an hour on the phone with them to resolve this issue to no avail. The response to me was they are charging a minimum amount from the time of their closing billing date, to the date of receipt of payment. So, what transpires is when you pay within the grace period, you will still be charged this fee from date of closing on their billing cycle, even if the bill has not reached you yet!!! This is a genuine RIP OFF, and should be illegal. Someone needs to do something about it. How many people are doing business with them at the tune of $1.50 per month?!
NOT ME! I cancelled my account, turned in my points for cash and told them to send me the credit balance on my statement. Anyone who does business with these crooks should be ashamed!
Check your statements!!!!!
This report was posted on Ripoff Report on 08/25/2013 12:45 PM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-of-America/Wilmingoton-Delaware-19886/Bank-of-America-BankAmericard-Minimum-Interest-Charged-on-NO-Balance-due-Wilmingoton-Del-1078920. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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