I just cancelled my Bank of America credit card today – I actually had two with BOA, but they cancelled one due to inactivity towards the end of last year. I must have missed notification – if they even need to send it. So, I cancelled the remaining card.

I hadn’t carried a balance on the cards for probably over a year now, but didn’t want to cancel them in case the reduction in available credit would impact my overall credit score and therefore my rates on existing balances.

But with the new credit card rules coming into effect and the current state of lending – I feel that now is as good a time as ever to cancel my zero balances. I’m making good progress in paying down debt and if there are any repercussions to canceling cards – I’m betting that it will help in the long run if I just start making adjustments now.

One thing I do know so far is that I’m thrilled to no longer have any ties to Bank of America.

The Daily Show took a turn trying to explain the effect that the new credit card rules will have. Funny and frightening at the same time…

This past weekend I watched the documentary “Maxed Out”  (trailer here)based off the book of the same name by James Scurlock. I definitely recommend this movie to those, like me, trying to get out of credit card debt and also to parents of kids heading off to college (where it seems to all begin).

So I was checking out the debt management section of bankrate.com and saw this:

It’s an ad for a Bank of America Visa Card.  Again, in the Debt Management section of bankrate.com.  I found this to be ironic and a little disingenuous really.  I mean I know that bankrate needs to sell ads to make money, but you would hope they’d align the ads with their content and keep credit cards ads out of that one section.  That’s like M&Ms advertising on the dieting page of a fitness website or something, no?

I closed my Bank of America account this week after being hit with yet another round of fees. You know the kind they dish out…overdraft fee due to an inter-bank scheduled transfer, then another fee for there not being enough to cover the overdraft, and another one for the fee that is added to the other fee…and what the heck…give us $20 for looking at our website…

(I try to keep my blog G-rated – even though in person, I may not be – so please view these links with caution as, depending on your personal sensibilities, one or two of them may be offensive either in text or graphics)

Anyway, I’m not when it comes to my feelings for Bank of America.

In fact, they even have T-shirts for the feeling…