Livingston, New Jersey
Not resolved

I owe less than $10,000 on a card with a zero-interest promotion.

For 4 months my minimum pmt was about 10% of card balance, usually $96 or $97, so I made $100 payments each month to cover it.

Suddenly on the August stmt the min payment increased to $108 and I accidentally made the same $100 pmt I had been making.

This threw this account into interest mode and I will now be charged interest each month until I pay the account off, missing out on the remaining 7 months of the zero-interest promotion.

This appears to be a deliberate attempt by BankofAmerica executives to throw customers off and charge interest, and I resent it.

Product or Service Mentioned: Bank Of America Account.

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Yes, yes, yes, how many times do I have to say that I realize it was and is my responsibility to pay the minimum balance. Are you so dense that you can't understand that my argument is not that they have done anything WRONG just SNEAKY? Geez!


The increase has nothing to do with billing cycle as shown in the figures below. Rather, as previously stated it was normally 1% of the balance, until the sudden increase.

Days in Billing Cycle:

31, 30, 29, 32, 31


$9984, $8834, $9734, $9634, $9545

Minimum Pmt Due:

$99, $88, $97, $96, $106


it may seem like a tactic on the bank's side but it's not really. minimum payment is usually calculated based on the number of days in the billing cycle.

if you pay close attention, a cycle can be between 25-32 days.

the more days in the cycle, the higher the minimum payment. it's unfortunate but in the end, it is your responsibility to pay what is required as shown on the bill.


Sorry, my mistake, it was about 1%. I think you are missing my point.

I was taking advantage of a promotion where they allow you to transfer a balance to their card and give you zero percent interest for, in my case, about 12 months. There are still minimum monthly payments required. But if you accidentally miss just one payment or even pay just a dollar less than the minimum payment, it breaks off the zero interest deal at that point. So if you were planning (as in my case) to pay off the 10K shortly before the zero interest runs out, it's tough now that I have to pay interest I wasn't planning to.

Yes I failed to make the payment and they are in the right, but I thought it was sneaky to suddenly change the minimum payment which had been in the $90s for 4 months and suddenly make it more than the $100 I'd been paying regularly, just to (seemingly) try to catch me not paying attention (which they did and which I wasn't) so that they could get out of their zero interest deal.

I could be wrong, but I wouldn't be surprised if this is a tactic credit card companies use to get out of the deal. Same thing goes for if you set up autopayment each month...they will automatically pay the bill on the day it is due, but if it turns out one month to be on a weekend, your payment won't process until the following budsiness day, and you'll get knocked into interest-mode that way too. They don't give you an easy way to automatically pay the monthly payment, and I guess my point it that it is easy for an imperfect person such as me to get caught off guard, not to mention when they (rather sneakily, I still maintain) increase the minimum payment suddenly.

But your point is also well taken.

I did indeed not make the full payment. Still, surely you see the point I was making??


wow, 10 % is not ~100 BUCKS. YOU WILL NEVER PAY OFF TEN GRAND WITH $100 payments.

you need to pay $500 each month to pay it off in 20 months. you didnt make the minimum payment on time or payed too little

so now you got to pay the interest.

this is not a ripoff, you agreed to it and didn't follow up on your end of the bargain.