A few days ago I was going online to make a credit card payment. Bank of America VISA.  I owed around $2500. Used it on my last vacation. No biggie. Planned on having it paid off by the end of the year.  
I check my account and $0 payment is due and I have a balance of -$1776.  There is one transaction posted, a bank charge of -$4391.  The only note on the transaction is INTEREST CHARGE ERROR CORRECTION.  
Not believing in free money I call BOA immediately to see what's up.
They told me the adjustment was correct. They would not give me a straight answer why they gave me over $4,000 back.  They asked me if I was in the military and thanked me for my service then read a statement. The same is on my bank statement for the month.
 " We want you to know that we appreciate your commitment to our country and pride ourselves on serving you.   Based on a recent review of your account, we may not have provided you the level of service you deserve, and are providing you a credit."  
I have had the same card for eight years and never really kept a big balance on it. I'm thinking I might have been overcharged on interest, especially on my deployments to Iraq and Afghanistan where they were supposed to lower my rates.  I called back three different times to different operators and they all assure me the refund is correct and the money is mine.  Still seems to good to be true.    

Has this ever happened to anyone?

Never heard of it, but that's pretty sweet for you, man!

Go buy a sweet firearm to celebrate!!!

I'm guess they will figure it out in 4-5 days.

Yeah, better spend it fast.



 

A 10 year Arfcommer with a 31 post count is more impressive.

Keep all paper statements and a record of who you talked to and what department they were in. Don't spend the overage for at least a year, just sit on it and see if anything changes. After a year, if all statements showing the overage is still there, you're probably good to go to use it.

It does sounds as if there was some class action lawsuit brought by the govt possibly that resulted in BOA settling before it hit the courtroom. And if ANY bank could find a way to screw you on interest charges, BOA would be one of the top picks.

More than likely they have been fucking you somehow for the last eight years and got caught with their hands in the cookie jar and had to issue people credits. Regardless it is a good deal for you.

I received the same credit a few days ago, blew my mind. I was also told that it was correct and was given the "thank you for your service" spiel. It must have something to do with SSCRA and the interest rates while bring deployed. Still a little leery of it though...

That's nuts. Awesome but nuts!

And then get ready to pay it back with double the iinterest



 

1. Call another credit card company and see if you can transfer a negative balance.

2. If the above is in the affirmative, do it.

3. If BOA contacts you and includes a postage paid envelope wrap the paperwork up with a brick, attach the postage paid envelope and return it to them. They're swine.

Just checked mine, no credit.  

I got around 2k back from Capital One about a year ago.  Have 2 cards through them both are about 7 years old.  I never used those cards except for little stuff.  anywho, im refi'ing the house and i check my cards see some account serv charge of $9.xx on there.  i call to see wtf this is (thought it was something new) and apparently they been charging me this since day 1 and it was something they automatically  opt u in for.  they said they would refund me the $.  I figured maybe $100 if that.  they called me back and said something like the whole amount for the entire life of both cards.   went and bought my 308.  before anyone was the wiser

Wow. Nice.

.



You can get a check sent to you for the overage.  I once received a check unasked for an overpayment that rolled over a couple of months.



It's your money - tell them to send it to you.  B/A doesn't pay you interest when you overpay.  

I got a check too for $563.  

"We have enclosed a check for you.  We want you to know that we appreciate your commitment to our country and pride ourselves on serving you.  Based on a recent review of your account, we may not have provided you with the level of service you deserve and are providing you with this check.  There is nothing you need to do other than cash your check."

Weird thing is, I never carry a balance or pay interest.

I wouldn't spend it.

Actually BofA is now advertising they are doing this. It was on a sign board at the ball game.

It's because they were supposed to lower your interest rate while you are/were active duty, what they're doing is giving it all back to you.