Bank of America Credit Card Complaint

Bank of America Credit card department,

APR or interest rate California

I am writing this letter due to what I believe to be misleading and perhaps fraudulent behavior of Bank of America against the consumer regarding interest rates on balance transfers. I opened a Bank of America credit card -/-/- years ago because I was offered a promotional rate of 0 % interest on all charges until - -. I also took advantage of repeated 0 % promotional interest rates for balance transfers. In - - I transferred balances equaling $3900.00. As of my statement for -/-/-- -/-/- my balance were as follows $1900.00. - purchases promotional rate until - -, balance transfer $1500.00 promotional rate until - -, balance transfer - promotional rate until - -. By my statement for -/-/-- -/-/-, it indicates that I had paid off all of my balance transfers. I received additional balance transfer offers which would not generate interest until - - so -/-/-, I transferred $5600.00 as indicated on my statement dated -/-/--/-/-. I later transferred additional money for a promotion lasting until -/-/-. Therefore, I was shocked -/-/-. when I started paying interest on my whole balance. I called and asked about my promotional rates on balance transfers, they said all of


account has balances with different APRs, we will allocate the amount of your payment equal to the Total Minimal Payment Due to the lowest APR balances first ( including transactions made after this statement. ) Payments in excess of your Total Minimum Payment will be applied to balances with higher APRs before balances with lower APRs. '' While, I paid some $9000.00 on my credit card for the year, I thought I was making payments both on my purchases and on balance transfers. However, somehow BofA only applied my payments to my balance transfers exclusively at first so that I would not be able to take advantage of the promotion interest rate on the balance transfers which is what lured me into making the balance transfers. This is not explained on the statement, was n't told to me verbally when I asked and I do n't see such info on the tons of offers they keep sending me. This is slight of hand for the consumer. I hope you can help protect consumers like myself from such financial chicanery and shame on Bank of America, a name with such a long legacy, in whom we should be able to trust.