Bank of America - Platinum Visa Review

I received a Bank of America Platinum Visa about 6 years ago. It came with a very impressive interest rate of 0% for 12 months on balance transfers and a 8.9% fixed rate for purchases and after the promotion expired. I transfered a balance and used the card for all my purchases since it was such a low rate. I tried to pay more than the minimum payment each month. Once the promotion expired they increased the interest rate to 21.9%. I had never been late with a payment on this card nor any other card and had never gone over the limit. It seems credit cards lure you in with these great low rates and they tell you the rate will not increase unless you default on the terms however, it seems because I kept a balance on the card they saw it fit to increase the rate. This is one of the main reasons people go into debt. This not only increased the percentage rate but also the minimum payment amount. It just about doubled with the rate increase. So what I was paying over the minimum payment was now considered just the minimum payment. This isn't the only company that uses these kinds of practices. I have since torn this card and will never use it again.