Well, friends, that's a tough question, but I think I know the answer. The Great White Shark is going to take a big whomping chunk out of your ass and gobble you up for lunch because that is what it has to do to survive. Bank of America will take a great big whomping chunk out of your ass when it comes to what you are being charged for interest on your credit cards because 1) they're stupid (they got burned in the subprime mortgage mess) and 2) they're greedy as Hell and profits are down. Good Bank of America credit card customers who are always on time and have never been late are now getting notices from Shark...I mean, Bank of America, that their interest rate is going up from an average of 13% interest to 24% interest. In Al Capone's days on the south side of Chicago, only guys with pin stripe suits and machine guns walked around charging those kinds of rates. In Samuel Adam's day just before the American Revolution, people charging those kinds of rates on behalf of King George the III promptly found themselves measured for a tar and feather suit.
So avoid Bank of America and dump 'em if you already got 'em. And cue that scary music score from Jaws, because you can expect more credit card companies to follow Bank of America's lead on this. Tar and feathers, anyone? Just remember to pay cash for them.
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