Did BoA just start charging interest plus a 1% of your total balance fee?

12/17/2005 8:01:22 PM

I wouldnt be surprised. I've been seeing a charge every month recently that equated to roughly 1.5% of my current balance added at the end of each billing cycle. Honestly, I'm not terirbly good at watching my stuff as close as I should, but I know this was added on each month, as Ive looked back lately. My balance has been so high that Ive just havent noticed it until I finally paid it off and saw it kick on for this past month. I know I was never charged any money on top of what I paid off every month, but that was back when I could pay it off at the end of the month.

Ehn... I learned my credit card lesson the hard way.

12/18/2005 12:58:17 AM

I don't think your "problem" is specific to Bank of America. From my understanding, recent legislation (or regs) have forced the credit card companies to collect more money to pay the balances. It is supposed to get people out of debt faster--however, some people will have a more difficult time paying, at least initially.

12/18/2005 2:17:42 AM