Bank of America Raising Rates, Check Your RCCL Credit Cards

[ChevyCruiser]

Here's a couple of links for those of you with the RCCL-branded Visa card through Bank of America. They are raising interest rates on credit cards. Here's the link to the story on the interest rate hikes:

 

http://articles.moneycentral.msn.com/Banking/YourCreditRating/YourCreditRatingDyn.aspx?cp-documentid=6198042&Gt1=10922

 

 

And here's a link to find the the disclosure statement for the RCCL-branded Visa cards. May be worth printing out in the event you get a notice that your interest rate has jumped to 28%. Click through as if you are applying for a card and then click on "terms and conditions" at the top of the application page to see the terms, then you can print them out for your file.

 

http://www.royalcaribbean.com/dealsandmore/offer/visa.do;jsessionid=0000F0QAMvaq1vYE1EHEeKUEzfg:12hdhuaq2

[cruisegirl1]

Increase makes no difference if you carry no balance. Seems like ANY finance charges would wipe out benefits for most cards.

 

M

[montekat]

Increase makes no difference if you carry no balance. Seems like ANY finance charges would wipe out benefits for most cards.

 

M

We always pay in full every month also. The rewards are like free money and they pay us to cruise!

[Vividraven]

How horrible! If it weren't for it being Royal Caribbean affiliated, I'd quickly cancel mine. Hopefully I won't be one of their guinea pigs. :mad:

[Dr_DNA]

Seems sleezy especially seeing that Fed Rates have been lowered quite substantially.

 

Agreed that the best practice is to not carry a balance.