jlawless
Coldfoot, AK
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we_rv wrote:the bank executive I spoke with had no idea this was happening and said I was the first/only person who protested the methodology of collection of additional fees.
LOL -  Those tobacco executives never knew cigarettes were dangerous either. And Pete Rose never bet on baseball - I'm shocked!
FYI - this is customer service 101 - make the customer feel like they are the problem by complaining.
Talk to the animals. They will talk back to you. If you don't talk to the animals, they won't talk back to you, and you will fear and when you fear animals you will destroy, and if you destroy the animals, you will destroy yourself.
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smkettner
Southern California
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Joined: 03/21/2005
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Ruin my day?? Not possible from an internet chat.
Yes I add them up. I don't use it a lot but I have had a BofA CC since 1984. No rewards etc so I don't use it much but I have never had the trouble you say. I am an accountant so yes I check it out top to bottom. And no I do not work for BofA.
The silly face was to show I prefer not to use debit cards but I do a few payments with automatic ACH.
Summer is too warm for the juice but around the holidays I would take you up on that offer.
My only trouble (BofA CC) was when in Russia last year I could not get a cash advance at a bank teller but I think it was the Russian bank's error not BofA. Apparently only ATM transactions will go through their pathetic banking systems over there. ATMs were limited to a miserable 8000 rubles.
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mr. ed
Madison, SD (but usually elsewhere)
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I've used a BofA Visa card for many years and have never had to pay any charges. The full amount due is paid automatically every month and works just fine. I will be keeping a closer eye on my account, though, due to your experience. Thanks for sharing...
Mr. Ed (fulltiming since 1987)
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kd8wdave
Middletown,OH
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we_rv wrote:I thought I was fairly astute in avoiding any extra charges on our Bank of America Visa
Card. I was wrong to assume I could match wits with this ‘Bailed-out’ institution.
We file a tax extension each year because we are out of the country when taxes are due. Our tax time is now approaching and I was reviewing all Credit Card transactions and discovered that there were hidden finance charges in the amount of $30.00, which I ferreted out. These charges did not appear in our e-bill statement. They are smothered in the depths of the Transactions page. Where is the new transparency?
To avoid any finance charges, the bill MUST be paid in full on the statement closing date. Ok, that should not be too difficult, right? Wrong, of the eight (8) statements for 2009, there are five (5) different closing dates, which range from the 12th to the 16th. This is not the only issue because if the e-bill is posted on the e-bill site late, or late in the day (11:30 PM), there is no way you can avoid the finance charge.
The finance rate is the same for one second beyond the closing date or up to 21 days to the due date.
I missed paying on the closing date (21 days before due date) two times in 2008 and that is how they charged me finance charges. We pay, in full, the moment I see the e-bill but they caught me twice in 2008.
Remember, these are finance charges not late charges. This is really critical for those who depend on USPS to deliver their payment.
This is ‘change’ faster than I can ‘hope’ to adjust. Incidentally, the bank executive I spoke with had no idea this was happening and said I was the first/only person who protested the methodology of collection of additional fees.
I have Visa/BOA and mine has to be paid by the 'due' date to avoid charges ?? R U Sure ??
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Trish Davis
eastern Ohio
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Yeah, he's right. BoA has gone around the bend collecting fees.
Fees are how they paid off their bail-out so early and they, among others, did that (BoD decision) so the execs would get their bonuses without Fed interference.
NPR has a pretty frightening article about several banks' practices and BoA is highlighted.
It's not the bail-out or the stimulus, it's greed.
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we_rv
USA
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Joined: 06/01/2005
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DH made the earlier posts. This is DW.
I can assure he is right. The bank exec saw that he was right and admitted he was right -- and refunded the charges. We pay in full every month when the bill is received. This is not a problem DH created or imagined. It never showed up on regular e-statements. We had no clue until printing out the end-of-the year transactions and found the fees buried in them.
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264SRinPA
northeast Pa
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mr. ed wrote:I've used a BofA Visa card for many years and have never had to pay any charges. The full amount due is paid automatically every month and works just fine. I will be keeping a closer eye on my account, though, due to your experience. Thanks for sharing...
Same here. We use electronic bill payment and schedule all payments one day before the due date. Have never been charged any extra fees, and yes we do check. Have never had any problems with BOA.
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DIYGuy
TX, NY and all points in between.
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Check the due dates carefully. Several have been making the due date a Monday Bank Holiday. Capital One gave me a due date of next Monday. That means that the electronic payment has to be registered on Wednesday, and in the fine print of most credit cards is that they can take upto 3 business days to credit an electronic transaction.
My favorite one last year was my Home Depot bill due the Sunday after Thanksgiving. If I were mailing that one in, I would have needed to mail it in 12 days before it was due.
All electronic banking allows me to pay whereever I may be, but the games that billers are now playing to hit us up with fees is ridiculous.
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mlh
Walker, Louisiana
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My opinion is to get rid of your B of A card and let the illegal aliens deal with all their nonsense. Remember way back when they were giving credit cards to people with no address or SS# trying to target the illegals? I remember well and will NEVER deal with them because of that. Let's see if they pay THEIR bills on time.
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Glen41
North Texas
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Just my observation, but recently I have had a cluster of mail from any card I ever had claiming they were "modifying" the business model.
Chase says they are moving to an adjustable rate instead of fixed rate. At 12 percent over the prime rate it is not a very good deal.
Most of the rest are setting the interest rate at 21 to 26 percent if you ever make a late payment. Ouch! When I was young the govt made anything over 11 percent illegal. Then the cards got powerful and bought enough politicians until they got their way.
My point is they are all thrashing around looking for loopholes in the new laws. And there are bound to be some because their accountants are better than the government accountants. If they can't find one they will just have their paid for congressmen create one. So just realize that they are NOT on your side.
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