I had an adjustable rate mortgage (every 3 years) with them some years back. The rate was 6%, and it was coming up for renewal.
Since the rate was based on the US Prime Interest Rate, I guessed 7% and was ready to pay it. When the bill came, it was 8%. I went to the bank and said "Hey, what's this about? Why 8%?"
"Well", they dithered, "Let us check." They came back and said "Well, you've been a long time customer so we'll update it to 7%, how's that?"
And I said "Too late. If I'm such a good customer, why did you try to stick me with a higher rate? Just to see if I'd be quiet and you'd get away with it? Well, I'm not. So long!" and off I went to Wachovia Bank where I got 7% .
I hate that tactic.