Thursday, February 7, 2008

Bank of America informs cardholders of mystery rate hike...

Bank of America has taken an aggressive stance toward its credit-card holders, raising interest rates based on criteria it won't disclose. Many credit-card lenders have raised rates on cardholders who are current with balances but see a deterioration in their overall credit scores. Bank of America last month notified some of its 40 million cardholders that it would more than double their rates.

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