BOA offered me a great credit card with a great rate. After having the card for over one year and paying additional not just the minimum due i get a notice that says your rate now is going to 24.99%....how is that possible when every payment is on time, more than the minimum and i have not even used 30% of the line of credit issued. Believe me this is called 'legal loan sharking".

the banks are borrowing money at nearly 0% and then charging us consumers 24.99%. If that is not loan sharking i don't know what to call it.

After this i plan on transferring my balance to another bank that has a better...