| I don't know if Bank of America has this program; however, JP Morgan/Chase offered this to me after they arbitrarily raised my minimum monthly payment from $271 to $681 - I was never late with a minimum payment, nor did I ever miss a payment. Apparently they chose a certainly group of low rate, life of the loan, portfolios and then just raised the minimum payments. My question is this: in order to join this program, I must cancel my card and then the fixed rate at 2% stays for 5 years...a good financial deal, however, I am concerned this will effect my credit report/rating. Does anyone know if this program is detrimental? It is obvious that JP Morgan/Chase is reducing their revolving accounts...does anyone know anything more about this? |