Ann Minch Launches Debtors’ Revolt On YouTube To Fight Interest Rate Hike And Wins [Video]
Ann Minch is a popular YouTube user that launched a revolution against Bank of America. She called the revolution a “Debtors’ Revolt.” Minch said that on the YouTube video that she refuses to pay her credit card bill because of an unfair interest rate hike. It turns out that Bank of America has reduced her rate as a result of the one-woman protest.
Minch said that a Bank of America representative contacted her on Friday and they had the following conversation as described by Minch.
“He asked me to talk a little about my personal financial situation so we can negotiate some kind of agreement in regard to my existing credit card account,” stated Minch. The B of A executive “tried to get me to agree to 16.99 percent and I said, ‘No, nope, I believe because you guys are getting your money from the Fed at zero percent interest… that 12.99 percent is a more than generous profit margin for you guys.’ So he did finally agree to that and he also agreed to send me that in writing.”
Minch’s credit card balance is about $5,943.34. “Just because my personal account situation has apparently been resolved, which is a small victory for this debtors’ revolt movement, we still have a war to fight,” added Minch.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry