When some consumers get credit cards, they assume that they will only use them for emergencies. What some people don't plan for is how billing practices and other charges on the credit card can add up, especially when those charges are deceptive. A recent case with Bank of America shows just how important it is to keep track of every single penny that is being charged to a credit card. Anyone in Illinois who has had a Bank of America credit card might be interested in this case.
It is estimated that Bank of America misled around 1.4 million customers about the cost of payment protection products that allow minimum payments to be suspended if the card holder suffers a severe illness or loses their job. The bank is also accused of billing customers for identity theft products prior to the customer getting them, as well as failing to provide some of the services related to fraud monitoring that consumers were paying for.