YouTube rant results in lower interest rate

While it may not be as advisable as other credit card debt solutions like a credit counseling service, one woman’s YouTube rant aimed at Bank of America has resulted in having her interest rate reduced.

Earlier this month, California resident Ann Minch posted a video on YouTube after she said Bank of America had raised her interest rate to 30 percent despite making payments on time and staying below her credit limit.

After being a customer of Bank of America for 14 years, Minch said she was withdrawing all her money from her Bank of America accounts and refused to make payments to her credit card unless the company returned her interest rate to its previous amount and presented her with a "too-good-to-turn-down payment offer."

It turns out that the video actually worked. Less than two weeks later, Minch went back to YouTube to report that Bank of America contacted her and agreed to return her interest rate to its previous level of 12.99 percent. However, she also noted that her most recent balance shows an interest rate of 23.99 percent.