I have a $10,000 credit card debt - lawyers fees for a divorce - that I switched from a another credit card company because my branch of Bank of America in Pasadena told me they could get me a 0% initial APR and a lower rate after the introductory offer.
I paid $300 to change to transfer the balance to Bank of America Visa. I have had nothing but cheap tricks - charging $39 fines for a payment that is late because it posted a few days after the payment was made (even though the payment is between a Bank of America Account and the banks Credit Card), suddenly putting the APR up without telling me or giving a reason requiring lengthy phone calls, visits to the bank etc.
I expected my rate to go up when the introductory offer was completed - but not 17 points. I called to say I was struggling to pay this off, I am a good payer and if the rate can be lowered to 5% I can continue to make the payments and pay it off. They were not interested and shovelled me off onto a third party debt management company that spent an hour of my time asking a thousand questions about my finances - and then gave me three alternnatives:
1. Go bankrupt,
2. Get a $300 cheaper apartment and a second job at Walmart,
3. Pay the third party company $300 per month to negotiate with Bank of America for the 5% that would make the credit card affordable for me (although they said I couldn't afford their fee).
Thanks Bank of America - way to go! So nice to see you looking out for the little man.