BofA to Boost Rates on Cards With Balances

[Slimprofits]

Starting with June account statements, any credit-card customer who carries a balance and has an interest rate below 10% will see his or her rate jump into double-digit territory. A company spokeswoman declined to provide an exact number, saying the changes would affect less than 10% of the bank's card customers in the U.S. The bank has 70 million card customers world-wide, but doesn't break out the number of customers who are in the U.S. "It impacts a small portion of our cardholders," said Betty Reiss, the spokeswoman.

http://online.wsj.com/article/SB1239...s_us_nonsub_pj

Another stake in the back of EJ's "Monthly Payment Consumer". This specific move might impact only a small portion of BoA credit customers, but it reflects the massive systemic shift that we've been discussing.

I can't at this point imagine any machinations by the Fed or the Treasury, any amount of bailouts, phony stress tests and PPIP or epically failing TALF programs that will revive the F.I.R.E. scam. It is D - U - N done.

[don]

Re: BofA to Boost Rates on Cards With Balances

Starting with June account statements, any credit-card customer who carries a balance and has an interest rate below 10% will see his or her rate jump into double-digit territory. A company spokeswoman declined to provide an exact number, saying the changes would affect less than 10% of the bank's card customers in the U.S. The bank has 70 million card customers world-wide, but doesn't break out the number of customers who are in the U.S. "It impacts a small portion of our cardholders," said Betty Reiss, the spokeswoman.

http://online.wsj.com/article/SB1239...s_us_nonsub_pj

Another stake in the back of EJ's "Monthly Payment Consumer". This specific move might impact only a small portion of BoA credit customers, but it reflects the massive systemic shift that we've been discussing.

I can't at this point imagine any machinations by the Fed or the Treasury, any amount of bailouts, phony stress tests and PPIP or epically failing TALF programs that will revive the F.I.R.E. scam. It is D - U - N done.

and expect FIRE in crisis to be desperately more combustible.