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Thursday, June 04, 2009

How's Your Interest Rates Working For You?

I would like to pose a complaint to you and see if you have heard anything about this issue. I have banked with Bank of America for all my life. (well, I should say Maryland National, then it was Nationsbank, and I may have missed one name in there too) But, today I looked at my checking statement, and mind you I don't usually have this much money in there, but my company bonus came in recently so I have upwards of almost $20,000 in there. My checking account is an "Advantage" account that pays interest. My interest with them for last month total was .09 cents. I thought this was odd, because last month was less than half that total amount in the account and my interest was .32 cents. (yes, I know its pennies, but still) The point was, after looking at the interest rate, I saw it was 0.02% now. Since the first of the year it has been 0.05%. (yes, still talking pennies here) But the bigger picture to me is this, after getting billions and billions from the O'bama Mint, this bank is now using my money as well as the governments to cover losses on top of losses. I work hard for every dollar I earn and pay every bill on time. I never carry a balance on any credit card unless I can pay it off with the first bill received. This is the thanks I get from my bank. I also have been notified that several credit card companies are raising APR's over the next several months, arbitrarily, even though my credit score is over 800. My attorney was to have a meeting with Sen. Mikaulski about this, as she is apparently involved with the bills being written in Congress about how credit card companies handle their business. I guess maybe now is the time to invest in gold, but not with a certain local nut job who shall remain nameless, but through a nationally recognized group like Goldline Corp. Inc. (featured on the Glenn Beck website).

5 comments:

Anonymous said...

I believe I earned a total of 13 cents interest this month with my local bank. Not even worth posting this to my checkbook.

Anonymous said...

You have 20k in the bank and you are complaining? Many people would die for part of that. People that are losing their homes, cars and everything they own. Be glad you have that in the bank, many do not

Anonymous said...

Mine isnt in the bank.

Anonymous said...

Hey, it's the free market, if you don't like it, go to another bank.

Anonymous said...

Stick with one of the local banks.
for what it's worth I am at Bank of Delmarva and happy.