Credit Card Questions


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » FAQs » Other Questions » I am very sorry to bother you, but we are just about dieing keeping up with our credit card bills...

I am very sorry to bother you, but we are just about dieing keeping up with our credit card bills each month. I have NEVER missed a payment or been late, but now Bank of America has suddenly doubled my interest and minimum payments on the two accouts which I have with them. They refuse to lower it, in spite of my continued honest dealings with them in paying my bill.
We cannot file bankrupcy and have no other choice but to stop paying our credit card bills. I live in Texas where I am told that they can do a lot of things to us (file leans on everything, etc.) but that they cannot take things like they can in other states.
I wonder if I should stop paying just the Bank of America, who unjustly went up on us, and keep on paying the others with whom I have some very good rates (3.9% for life, 4.9% for life, 7.9% ect.) and wait until they raise my rates, or do I just go ahead and stop paying on all of them, and save up our money until the future when we will have some money to pay, if they wish to make

Date: April 3, 2007, 12:32 pm
The content is accurate at the time of publication and is subject to change.
To tell the truth, stopping bill payments is not a good idea, as you may run a risk to get into debt, and anyway you`ll have to pay all the missed bills. If you possess a positive credit history and if it is impossible to make the terms more preferable, you can apply for a balance transfer credit card. In this case you'll get an opportunity to transfer several of your balances (usually not more than four) onto one credit card with the lower interest rate. So, if you have good-to-excellent credit, you can choose among our balance transfer credit cards. You may choose another variant - close the accounts, which you think are not profitable. But it is better to think twice about canceling your credit cards, as having longstanding accounts with good payment histories can help your credit score. If the credit card account has no negative items, there is probably not necessary to close it. So, it`s up to your to decide which variant is best for you, but skipping bill payments won`t do any good to your credit history and your budget.
Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Didn't get an answer to your question?
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!