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The vanishing fixed rate credit card

July 9, 2009 | Wall Street Journal, alternatives, industry | Comments (0)

From the Wall Street Journal:

Nearly all of Bank of America’s fixed-rate cards will be converted to a variable rate. The exceptions: some student accounts, accounts in debt-assistance programs and some newly opened accounts, says spokeswoman Betty Reiss. At BofA, customers will not be able to opt out of the changes, which they will start to see with August statements.

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