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B of A has a on line bill pay system that I use every month. My bill is due the first. I usually get paid the day before so I go pay my bill the day before it is due. On two occasions now, the system has taken two days to process my payment. The result? A $39 “late” fee and an interest rate of, No im not kidding, %27.24. Not only that, but when I tried to schedule my payment on the 15th to process on the 31st, the system automatically reschedules the payment to come out the NEXT BUISNESS DAY!!! That means, if I want to schedule the payment early to avoid the excess processing time, the payment comes out the next day instead of when I ask it to process, so there is no way for me to avoid this ‘processing time’. It seems I am stuck paying the high interest rate and the late fees because of B of A’s system. I have been set up for failure and I hate it. I already filed a complaint with the BBB, but I am still mad. I have not ranted for a while so I figured it was time. I hate B of A. 🙄
49ER wrote:That really sucks–have you talked to their phone customer service about it??
Yep, but barring a $39 refund, they wont help. Really, $39 is a drop in the bucket compared to the interest rate. Im working on getting it paid off. I have asked my husbands help to cosign a personal loan… that hurts my pride but I will swallow it to get out from under B of A.
My boyfriend got screwed $1200 by them less than a year ago. I went in to open a checking account with them a few years ago when I started getting real money in, and they wanted $500 to open the account.
Ski, if you can, switch to Wellsfargo. I HATE….wait, lemme say that again…HAAAATE….wait, one more time to emphasize…HATE banks…but I’ve been with WF for 3+ years. I LOVE them. They are so easy to work with, and if you use their online bill pay system to pay your, say, car payment. And your car payment is due on the 10th and you schedule it 2-3 business days before the due date…and if for some reason its late, the BANK pays any and all fees, because its their fault, so they cover it.
Also, if you get a savings account with their checking, (which you only need $100 to open) and if you set up an automatic transfer of at least $25 every month from your checking to savings, its free to have a savings account. You can transfer the $25 back into your checking if you want. Still free.
If you set up your savings account that way-and if you have money in it and get an over draft, they only charge you ONE fee of $10 and pull the money from your savings.
If you didn’t know your account was negative, spent $2 on coffee, $5 at Chick-fil-a for lunch and $40 on gas that day….they dont post debits until the end of the day, so they only charge you ONE overdraft of $10. Not 3 over drafts of $30 each, like Washington Mutual did to me (HA HA WAMU YOU LOOSE!!)
Even the last company I worked at banked with BofA and they always had late fees etc.
Lame.Best of luck, Ski!
Thanks Wolfen:) I will probably just have my husband bail me out. I dont know what I bring to the table. Oh look… now Im all weepy. Pregnancy hormones… at least im giving him a daughter… thats something. 🙂
The more I hear about BoA make me dislike them even worse. I have a friend who used to be a manager for them until he got sick and he doesn’t even endorse BoA any longer due to how they treated him…an employee!
Ski, have you considered a Credit Union instead of a bank? Remember that banks are profit making corporations. Credit Unions on the other hand are member owned and most, if not all of them, are not-for-profit. You can usually get a much better deal from them than you can from a bank.
I’m with Pegasi… the more I hear of BofA, the more I dislike them. I used to have a credit card that I had gotten through my fraternity. It was decent, then the company got bought out by Bank of America. After that, everything just starting looking screwy and their website was just a mess (with the same long processing times, or if you paid a little too early, it wouldn’t count as a payment). I found a better card and transferred the remaining balance I had to a better card through another bank. Maybe this might be an option Ski? Called and closed the account and let them know why. This was several years ago before the banking issues that are plaguing some of the banks now that took more risk than others. I avoid them and I’m glad I never got involved with a card from Citibank. They’re a mess as well.
I was going to suggest a Cradit Union also. I’m with one and I LOVE it
I would think that being in the Army you would have the BEST Credit Union ever at your finger tips???HEY!!
How about we figure out a way to start the Bank Of Windstone???
Real money from REAL people that understand how touigh it is out there right nowsiberakh1 wrote:I’m glad I never got involved with a card from Citibank. They’re a mess as well.
We have a Citicard and it’s okay. They randomly switched it from a Visa to American Express at one point, but they kept the balance and everything the same. Then they recently raised the interest rates from 9.9% to something like 15% (when rates were raised for everybody). We still have the card, but use it infrequently and try to pay it off in full the following month so there is no interest to be paid at all. We’ve talked about closing it down and getting another card (preferably Visa) from the credit union we belong to, but we don’t want to hurt our credit scores too badly.
I’m sorry…but your banks charge you to open an account?? WTF?? They charge you to do business with them? 🙄 They charge you so they can make money in interest, in bank charges, in late fees?? That is just ridiculous!!
pegasi1978 wrote:siberakh1 wrote:I’m glad I never got involved with a card from Citibank. They’re a mess as well.
We have a Citicard and it’s okay. They randomly switched it from a Visa to American Express at one point, but they kept the balance and everything the same. Then they recently raised the interest rates from 9.9% to something like 15% (when rates were raised for everybody). We still have the card, but use it infrequently and try to pay it off in full the following month so there is no interest to be paid at all. We’ve talked about closing it down and getting another card (preferably Visa) from the credit union we belong to, but we don’t want to hurt our credit scores too badly.
That happened with me too. Credit card companies are floating the idea now to tack interest on immediately on a charge instead of giving it the 30-day grace period now in place. I also vouch for a credit union; they’re great and limit the amount of accounts members can have so that no member has too much stock in it.
purpledragonclaw wrote:pegasi1978 wrote:siberakh1 wrote:I’m glad I never got involved with a card from Citibank. They’re a mess as well.
We have a Citicard and it’s okay. They randomly switched it from a Visa to American Express at one point, but they kept the balance and everything the same. Then they recently raised the interest rates from 9.9% to something like 15% (when rates were raised for everybody). We still have the card, but use it infrequently and try to pay it off in full the following month so there is no interest to be paid at all. We’ve talked about closing it down and getting another card (preferably Visa) from the credit union we belong to, but we don’t want to hurt our credit scores too badly.
That happened with me too. Credit card companies are floating the idea now to tack interest on immediately on a charge instead of giving it the 30-day grace period now in place. I also vouch for a credit union; they’re great and limit the amount of accounts members can have so that no member has too much stock in it.
True, that can affect your credit. I guess it depends on where your credit lies right now with regards to closing the card out totally, but you can at least go to a lower interest rate as a whole, which since it isn’t being done (yet) and just not close out the card (keep it, but don’t use unless necessary sort of thing). Depending on how many cards you have though, too many can be a problem, so dropping one may not be quite so bad if you have 5 or 6 than if you only had 2 or 3. I also belong to a Credit Union and love them. My parents belong to the same one (that’s how I got my account when I was starting out, since it was for state employees only and their families at the time… they’ve opened it up since).
Oh yeah, this bank has a long standing reputation of disgruntled deposit holders. Had dealt with them when I was very young and found their tellers to be very rude–guess I didn’t amount to much because I was young and didn’t have any money. To this day, I will not deal with them–have Wells Fargo and Citibank and they’re okay. What jerks to start charging interest the day the charge hits the card! I mean at a time like this it seems like good ol’ greed is rearing its ugly head. Remember–what goes around, comes around and banks and credit card companies are no exception! :negative:
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