Bank Of America To Raise Rates For Late Payers

(By Rick Rothacker and Kirsten Valle Pittman, rrothacker@charlotteobserver.com) Bank of America has started telling customers that it might increase the interest rate on their credit cards if they're late on payments.Notifications sent with bills this month say the Charlotte bank can apply a "penalty rate" of up to 29.99 percent to future balances.

Topics:  rick rothacker   kirsten valle pittman   america   charlotte   late   rate   apply   balances   
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