Attention, Bank of America cardholders: your interest rate's going up, up, up!


The Wall Street Journal (subscription required) reports that Bank of America will raise its interest rates this spring for as many as four million cardholders who carry a balance and currently enjoy an interest rate below 10%.

If you (like most of us) carry a balance and your interest rate is already higher than 10%, breathe easy. This news doesn't affect you. If your interest rate is lower, though, look out for your June account statement -- it will have a new interest rate on it.