Report: #1078920

Complaint Review: Bank of America

  • Submitted: Sun, August 25, 2013
  • Updated: Tue, May 20, 2014
  • Reported By: Sandy — Lakehead California
  • Bank of America
    Box 15284
    Wilmingoton, Delaware

Bank of America BankAmericard Minimum Interest Charged on NO Balance due! Wilmingoton Delaware

*Author of original report: Yes, it is a RIP OFF!

*Consumer Comment: Not a rip-off

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 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!


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This report was posted on Ripoff Report on 08/25/2013 12:45 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Author of original report

Yes, it is a RIP OFF!

AUTHOR: Sandy - ()

I understand the agreement of a minimum fee charged if not paid within the due date.  You assume this is why I was charged the $1.50.  Your mistake.  I paid this entire amount way before the due date and argued that point with the Bank of America people.  If you don't believe me I will gladly send or submit a copy of the original bill showing date of receipt of payment to you for proof of why this was an error on their part and they would not adjust the charge.  You are free to your opinion, but I suggest you have the facts before you pass judgement.  Watch your statements if you are doing business with any card company.  Don't let them rip you off, even for a $1.50. 

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#2 Consumer Comment

Not a rip-off

AUTHOR: coast - ()

Excerpt from Bank of America's Credit Card Important Terms Disclosure web page:

We will not charge you any interest on purchases if you pay your entire balance by the due date each month... If you are charged interest, the charge will be no less than $1.50.

You wrote, "when you pay within the grace period, you will still be charged this fee", so apparently you paid after the due date; therefore, it is not a rip-off because the charge is within the boundaries of the credit card agreement.

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