Will Bank of America learn from Netflix Mistake?

This post was written by marc on October 25, 2011
Posted Under: Letters to the Editor

Letter to the Editor

In the last few months Netflix decided to drastically increase their prices and their customers got angry. They lost 800,000 customers in the last few months. Their stock price dropped from $300/share in July to about $75/share now. Bank of America is doing the same thing with their plan to add a $5/month fee for debit cards and Bank of America customers are very angry about that.

Making customers angry is bad for business as Netflix found out. I wonder if the folks at Bank of America are paying attention and might want to rethink their $5 fee in light of what happened to Netflix.

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