We received a tip today that Bank of America supposedly plans to close nearly all of its customers’ credit cards on October 1st, but the only source we can find for this rumor is a single post at iReport.com, CNN’s public journalism free-for-all. Everything else online that mentions this is traced back to that one short post. So, until we find out more, we’re going to say this one is bunk—and a great example of how wild rumors can pop up during desperate times. (Thanks to Joseph!)
When Things Get Crazy, Rumors Get Even Crazier
By cwalters September 30, 2008
- making the transition Square Trying To Help Small Businesses Meet October Deadline For New Chip & PIN Credit Cards
- redeem yourself Which Credit Cards Have The Most Restrictions On Rewards?
- Not Meeting Deadline Most Small Business Owners Aren’t Ready For Chip-And-PIN Credit Cards
- Not Playing By The Rules Colleges May Be Violating CARD Act By Not Providing Copies Of Credit Card Agreements
- where credit is due Banks Mail Out Pre-Activated Credit Cards, Don’t See The Problem