Last month BusinessWeek had a story about Bank of America suddenly jacking up interest rates on many customers' credit cards, telling them they had to accept the new rates if they wanted to keep holding the cards. (They could opt to cancel their cards and pay off the remaining balance at the old rate.) The story quotes people who consider themselves good customers who are upset about having their rates suddenly and perhaps unfairly increased.

My first thought? "Get a new card."

I don't know Bank of America's reasons for wanting to get rid of these customers (and it's obvious they were trying to get rid of them), but if these people really are trustworthy customers, some other bank will be more than happy to have them. In that case, it's Bank of America's loss, their poor choice.

So why get upset at Bank of America's dumb decision? Well, my guess is that, in many cases, these people who think of themselves as good customers do not have a lot of other options. If they leave Bank of America, perhaps they know that they're not going to find a better deal elsewhere, because there's something in their credit past that is going to turn off other lenders as well. Their choices are to accept a rate hike at Bank of America or get a similar rate elsewhere.

Here's what I'm getting at: the weaker your position is in any situation, the easier it is for others to treat you like crap, whether it's your bank, your employer, or your girlfriend. The stronger your position, the easier it is for you to walk away, making you all the more desirable. So you need to work to strengthen your position in all these areas:

1. Improve your credit. Bank treating you like dirt? Keep working on your credit, paying your bills, maybe making more money, until you have the power to walk away from a greedy company that hikes your rates just because they think you can't get a better offer. Once you're there, you won't have to worry about your rates being jacked up, because it won't happen. You've become too valuable.

2. Employer treating you like dirt? Leave. What do you mean, you can't? Well, then, you'd better do something about that, whether its improving your skills so you're more in demand or building up a bigger nest egg that allows you the freedom to walk when you want to. I once had a boss that treated almost everyone like idiots. The only people that commanded her respect were those who were willing to get back in her face. And the people willing to get back in her face were mostly those who knew they could find a comparable job the next day if need be. My boss knew it, too, so she didn't mess with these people.

3. Girlfriend treating you like dirt? Get a knew one. Not likely? Then you have to do something that makes you more attractive, whether that's working out, clearing your zits, making a lot of money, whatever. Point is, you're more attractive to your current girlfriend/boyfriend when your mate thinks you're attractive to others. If he/she thinks you could walk away and hook up with someone new tomorrow, you are much more desirable. (And if they think no one else would want you, oh watch the contempt rain down.)

So, always have a backup. Always try to put yourself in a position where you feel confident you could walk away and someone else would welcome you with open arms, whether that someone else is an institution, an employer or a lover.

(Photo courtesy of dcJohn.)