Jungle Jim Pulls a Fast One with Bank of America

I am sending those nice people at Bank of America the following letter:

January 29, 2008

Dear Bank of America:

The following information pertains to your account XXXX XXXX XXXX XXXX.

IMPORTANT AMENDMENT TO YOUR CREDIT CARD AGREEMENT

Below is an amendment to your Credit Card Agreement that decreases your Annual Percentage Rates (APRs). Please read it carefully. You do not have to accept this amendment. The steps you must take to reject this amendment are described below. You must act promptly to reject this amendment, so please read it now.

ANNUAL PERCENTAGE RATE DECREASE

Summary: Your account will have fixed APRs that are lower than your current APRs. You may reject this amendment by following the rejection instructions below. I must receive your written response by March 2, 2008.

Amendment:

Effective on the first day following your statement Closing Date in March, 2008:

• Your fixed APR for all outstanding balances will be a fixed ANNUAL PERCENTAGE RATE of 3.99% (Daily Periodic Rate of 0.010932%).

Rejection Instructions for Annual Percentage Rate Amendment:
If you do not wish to accept this APR increase, you must meet all of the following requirements:

1. Write to me at XXXX XXXX. Clearly print or type your name and full credit card account number and state that you reject this change. You must give notice in writing. It is not sufficient to telephone me.

2. Write to me immediately. I must receive your letter by March 2, 2008 or your rejection of this change will not be effective.

Since they wanted to raise the interest rate to 23.99%, I thought I would lower it to 3.99%. If and when I get a response from them, I will post it here.