For whatever reason, I’m now humming Twisted Sister’s song "We’re Not Gonna Take It, No, We Ain’t Gonna Take It, We’re Not Gonna  Take It, Anymore!"

Perhaps some of you have caught wind of a recent video posted on YouTube, wherein Ann Minch informs her credit card issuer, Bank of America, that the "evil, thieving bastards" can stick her credit card bill in their "bailout pipe and smoke it." Basically, Minch threatens B of A with refusal to pay her credit card statement until the company lowers its interest rate from a "whopping 30%" to a more reasonable 12.99%. Minch’s interest rate had been suddenly hiked on her in January of this year, for no good reason (she was not behind on her payments and had a good credit rating), and without her even realizing this fact.

Minch tried reasoning with Bank of America for a return to her former interest rate, to no avail. Basically, B of A told her "tough sh-t", and referred her to a debt consolidation company.

That’s when Ann Minch got mad.

The original YouTube video is located below. It’s worth a view.

The first thing that Minch did after posting the video was follow up on her threat by closing her saving and checking accounts at a local Bank of America branch. She also wrote the CEO of Bank of America, Ken Lewis, telling him to watch her video and lower her interest rate, or else he would never see the $5943.34 owed to the credit card company.

Minch knew she was in uncharted territory, probably ruining her credit rating, and maybe even releasing the collection agency hounds to boot.

However, within just 5 days, Bank of America caved; Minch’s credit card interest rate was lowered.

This video certainly gives a voice to the many folks who are steaming mad that they have to pay exhorbitant interest rates on their credit cards, especially when the credit card companies just received a $700 billion bailout thanks to the tax payers!

Many individuals are following in Ann’s footsteps, telling their credit card issuers to also stick their high interest rates where the sun don’t shine. Others are holding back, stating that they have too much to lose. However, whichever way one looks and reacts to this movement, it certainly is getting people talking.

Your Money and Debt wants to ask its own readers if anyone has similarly challenged their credit card company to lower its interest rates. If so, what was the outcome?