I have a Fleet credit card that was bought by Bank of America. In Jan. 2003 I got convenient checks for balance transfer and the rate was 2.99% until the life of the loan if I pay in on time.
So, I used the checks to transfer my higher rate cards in the 3rd week of Jan. 2003 then I was waiting for the bill so, I can it ontime and also to know how much the minimum due.In Feb.2003 maybe 18 or 21st of Feb. 2003 I got a phone call from Bank of America demanding that I am overdue on my bill in Febuary 2003?
I said I never get the bill and I was waiting for it I never get it. Denise the caller said, we sent you the bill and it was due two days ago and if you will pay the minimum today we will not charge you a pinalty and will never change the promotion rate.
So, I did just that I paid the minimum over the phone gave her the Bank account information to drawn the money.
The next month the bill arrived I noticed that they charged me 39.00 for the late fee and my 2.99%APR. was changed to 27.98% APR. I called the Bank of America and told them about what happened the previous month and I was told that no changes since I paid Denise in Feb.
The Rep. told me that you will have to pay on time with in 5 months then we put your 2.99% back. I told her that was not I was told when I paid Denise? The Rep. said that is the policy because you did not pay on time last month. I said I never get the bill how do I pay it that I don't know how much the minimum ?
They will not change I felt frustrated. Then I went online set up my payment to be drawn in my bank on time for 6 months I thought that will fix it. for the meant time I paid 27.98%.
on the 6 months came I bill still showed that the rate is 27.98%.
I called BoA also sent them a letter about what I was promise and I did all that to get my rate back to 2.99% I was told too bad you defaulted the agreement in the promotion offer is says there clearly. I said I know that but I never get the bill! you did not send me the bill the Rep. said that they sent the bill to me and I did not pay it on time I been with Fleet Bank and B O A since 1997 that was the first time that I never recieve a bill.
I believed it is a Big Rip-off they did not send the bill intentionally so they can not honor the promotion rate. That should illegal.