Bank of Americab.o.a. closed my credit card account

S
This review was posted by
a verified customer
Verified customer

I have had a credit card with Bank of America/MBNA since 1997. And, I have used my credit card account for balance transfers since 1997. Just recently, I was told about a companion card to go along with my current B.O.A. card. I was told by a representative that I could transfer some of my credit available on my current B.O.A. to this new account once I received the new card in the mail in order to take advantage of a 0% balance transfer for 15 months.

I called a few days ago on Monday to see if I was going to get that companion card in the mail and I was told that I had been rejected for the new card. I asked why, and I was told that upon closer review of my currently revolving credit lines and balances with other cards that I was rejected for the new card and that my existing credit available($10, 177.00) would be taken away from my current account and it would be closed even though I currently have a balance of $5, 822.00 at a 1.99% rate until March 2009. And, also, I have never been late or missed a payment the whole time I have had this card since 1997. So, my credit card account has never been a delinquent account. I have very good history with them and they acknowledged that, but they said that was the right decision.

I have made balance transfers with them about every year since 1997 and they have never had a problem with this before. They just processed my most recent balance transfer in July 2008($6, 000.00) at the 1.99% rate until March 2009, and the balance is now down to $5, 822.00 like I said earlier. So, I have shown that I can make my payments every month and I have not missed any payments on my other credit cards and they admitted that I do have a good credit score. So, I asked them why do they have to close my account even though I have a balance, have not missed any payments etc., and they told me that all it takes is for me to miss one payment on one of my credit cards and then all of my credit card interest rates and payments will go up and that means that I will probably eventually not be able to pay them. Well, I have never demonstrated that I would or could miss or make a payment late! I have been with them since 1997! I don't understand this! I have excellent credit and they acknowledged that! This is not fair! They even closed my husband's Bank of America card account too, all in one phone call!

Now, because they have closed mine and my husband's credit card accounts, our credit will be ruined because credit reports will show that they closed our 2 credit card accounts and I still have a balance on one of them! The fact that they(Bank of America) closed our credit card accounts is going to now lower our credit score and cause our other credit card companies to possibly raise our interest rates and our payments and will also, most definitely cause them(other credit card companies) to stop offering us any low rate balance transfer offers! So, in effect, Bank of America is going to cause the very scenario that they were trying to avoid in the first place! By closing my accounts and ruining my credit in the process, they may cause my other credit card interest rates to go up, therefore increasing my minimum payments, and also causing them(other credit card companies) not to offer any low interest balance transfers which will in turn, cause me not to be able to pay off my current balance with them(Bank of America)! I have tried to get them to reverse their decision about closing my credit card account, but they said that they can't and I have spoke with supervisor after supervisor to no avail. They are ruining my credit by closing my accounts!

What can I do? Do they have the right to do this? Do I have any recourse? What can I do about this? Can someone help me?

Thank You So Much,
Shauna

Responses

  • De
    Debra Cook Oct 01, 2007
    This comment was posted by
    a verified customer
    Verified customer

    Frist of all let me say that I am not stupid. When I called to check on getting a loan from the packet they had given me, I thought O.K. I was going to move and 0.625 sounded like a good rate (as I knew my credit was very good at the time), and the payments were suppose to be 200.00 a month. Well this company instead of treating it like a loan put it off as a credit card debt. I have been fighting them for two years and I have been paying them there 200.00 a month and they keep adding interest and late fees and overdraft fees. Each month I subtract what I don't feel I owe and write on the bottom of my check for loan and the amount I still owe them. They except the checks and cash them but they don't take what I have fussed about for the last two years into consideration. They have harassed me at home multiple times a day, and now they are calling the hospital were I work. I pay my bills and don't mind paying for something I owe but I refuse to be ripped off, and if they don't start listening to me as I think they don't have a boss just telephone operators, I'm going to quite paying all together.

    0 Votes
  • An
    anil kumar agarwal Oct 04, 2007
    This comment was posted by
    a verified customer
    Verified customer

    Sir,
    I had taken a car loan from bank of America in India in the year 1999 and issued post dated cheques of bank of Baroda. The loan amount has been cleared since long and till today I have not received the N.O.C (i.e. - no objection certificate) along with the duplicate keys which is to be provided by the bank of America voluntarily.
    sir before couple of days I sold my used car but till today it has become great difficult for us to transfer the same in the name of the buyer as the hypothecation is in the name of bank of America on the registration certificate of the car.
    my car no is OR 02 K 0263,
    ANIL KUMAR AGARWAL
    OLD STAION BAZAR,
    BHUBANESWAR - PIN- 751 010,
    ORISSA
    INDIA

    -1 Votes
  • Lo
    Loren E. Wilkinson Oct 09, 2007
    This comment was posted by
    a verified customer
    Verified customer

    My grandson, who, I must admit, is fiscally responsible for his age, just received a preapproved credit card with a $10,000 max. from Bank of America in the mail. HE IS TWO YEARS OLD!

    1 Votes
  • N
    n Apr 11, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Bank of America is HORRIBLE!!! They de-linked my accounts without informing me; I went on vacation and after I came back I was astonished to see hundreds of dollars in overdraft fees!! They charged me international transaction fees, which overdrew my account (which was SUPPOSED to be protected by the linked account) by 8 CENTS, and I was charged a $35 overdraft fee. They continued to lay it on me and I received maybe 10 overdrafts in one day!! They hardly refunded anything and after calling them to complain about another incident, the customer service rep hung up on me!! (I was upset but was not cussing or yelling...)

    I am PROMPTLY changing banks and I suggest that you do too! Banks should NOT be allowed to take your money without informing you first.

    -1 Votes
  • Ch
    Christine Jaudes May 02, 2008
    This comment was posted by
    a verified customer
    Verified customer

    My spouse and I are also unfortunate victims of the BOA overdraft scam. However in our case ignorance was not bliss. After trying to reason with the branch managers very rude and incompassionate attitude she refused to return our od fees. I was so overwelmed that my knees buckled and I literally fell to the ground. Yes, right in their presence, inside the branch. I was rushed away in an ambulance to the hospital! NO ONE from BOA has contacted us since!! We have spoken to a few attorneys. They seemed reluctant. We are still seeking legal advice.

    1 Votes
  • Ma
    Margaret Opine Jun 04, 2008
    This comment was posted by
    a verified customer
    Verified customer

    When you take something that doesn't belong to you that is called STEALING!!! "If it walks like a duck & quacks like a duck it is FIA STEALING!!! Paid Balance to zero on 5/13/08 and allowed payment to clear; closed account afterwards via phone and got a letter stating account was closed. On June 3, 2008 -- FIA CARDSERVICES did an autopayment on a closed account with a zero balance. The rep told me they could send me in check in a few days. She said it was my fault because I didn't go into the CLOSED ACCOUNT online and undo the AUTOPAY. I asked if AUTOPAY was another company, she said no. I asked then why couldn't one call close one account and all that is on it? She said it all depends... and went on and on with a litany of possibilities -- AND NONE OF THOSE POSSIBILITIES included "reversing the erroneous payment." I have to wait and get my money in check form though they got theirs in immediate electronic form. My bank had me to fax a form from their site and they reversed the charge and put the money back into my account. But that leaves next month. Oh yes, 60 days after closing the account the autopay will take my money. THAT'S STEALING!!!

    CITI BANK did the exact same thing but they didn't bother to tell me about canceling autopay separately. The check took seven days to get to me. I am disabled, on limited income and was about to buy groceries when I thought to check my balance. I AM LAUNCHING A NATIONAL CAMPAIGN TO HAVE THE AUTOPAY STOPPED WHEN THE ACCOUNT IS CLOSED, especially if the balance is ZERO.

    Agency to contact and file complaint:
    Office of the Comptroller of the Currency (OCC)
    Administrator of National Banks
    www.occ.treas.gov
    email: customer.[protected]@occ.treas.gov
    [protected]

    0 Votes
  • To
    Todd Whitfield Jun 11, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I Todd Whitifeld Want To Get Reimbursed For Bank Fees Equalling Up To $245 Dollars. I Didn't Authorized You'll To Go Into My Account!

    0 Votes
  • Ed
    Edward Jun 20, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I just wanted express my personal opinion to everyone on this particular bank. I feel that it's one of the worst banks you could possibly do business with. I've been a customer with them for 5 years, and they recently charged me over $700 in overdraft fees in one day. Apparently I had "pending" transactions that went though which over-drafted my account. On the day this happened, I was using my debit card all day in the subway ($2 a pop) with no knowledge I was over-drafted, and they were letting the transactions go through. They charged ($35) every time I used the card, which at the end of the day, for about 40$ in transactions, they charged me over $700 in overdraft fees. Now, mind you, I had plenty of money in my savings account and credit card to cover the overdrafts, but they made no effort to cover me, or alert me that I was over-drafting. When I called to ask about at least getting some of it refunded, they treated me like [censored] and said there was nothing they could do. Now, $700 isn't a crazy amount of money, but the fact of the matter is, they're scam artists. What other company do you know of that is allowed to charge roughly 170.5% interest on borrowing money ($700 they charged % $40 I borrowed.) There are laws against this kind of thing, but apparently there is no law governing how much a bank can charge in overdraft fees. This is like someone coming up behind you and jacking your wallet, except since you have your money in their hands already, it makes it that much easier. I feel as though there should be more laws written on banking practices. I take the blame for not balancing my checkbook as well as I should have, but I'm outraged at the penalties banks charge people for this, it's a legal form of robbery.


    It seems all I can do now is spread the word, do yourself a favor, DO NOT BANK WITH THIS COMPANY! PEACE!

    TJ

    0 Votes
  • K
    k Jul 18, 2008
    This comment was posted by
    a verified customer
    Verified customer

    It is rediculous how many complaints B of A has. They are "legally " fleecing us in every possible way that they can find. It also makes me wonder why the CS reps are so unhelpful and nasty rude, when you know they make about $15 an hour. They certainly arent going to benefit from all of these overdraft fees. I would normally not put the blame on the employees as they arent the ones who make the rules, but in this case I make an exception. The majority of people at B of A are rude, condiscending, and unhelpful. It always makes me laugh when I think about it, they are charging us money for not having enough money!! Duh. And here's another funny one, they told me that because the balance in my Savings Account (not checking) was $1.52 they were charging me a $3.00 service fee, which left my SAVINGS ACCOUNT OVERDRAWN!! I didn't even know that was possible?! Steal from the poor and give to the rich, but...isn't it suppose to be the other way around? That pretty much says it all.

    0 Votes
  • So
    Sonia Jul 21, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Hi my name is Sonia Buentello, live on 2301 Lafayette St, Laredo, TX. 78041. My Bank of America credit/debit number is [protected] and I have been ripped off by BOA for more than 1300 dollars in a period of 11 months, this is not fair. There were many times when the amount of my debit purchase was less than 2 dollars and I was later charged 35 dollars because of supposed insufficient funds. The debit purchases would be put in P status then for whatever reason bounce and not go through. I figured if you use your card it should go through ASAP, not days later. I know this is a way for the Bank to make money. It is outrageous! I am a single mother of 4 and have been taken advantage of by this bank. Out of approx 37 or so charges, only 2 were refunded. The last straw came about two months ago when I used my debit card, then the charges had already cleared to C status, and then afterward I used the card a couple of times, and when I checked again the next day, the charges were already in C status were sent back to P status, this is when I realized that I was getting robbed by the people who are suppose to take care of my finances. Please help in getting me back some of these charges. My checking balance is $ –527.30, I could no longer afford to bank with Bank of America. I was forced to change banks.

    Sonia Buentello
    2301 Lafayette apt 325
    Laredo, TX. 78041
    [protected] or [protected]

    0 Votes
  • Je
    Jennifer Jul 21, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I just want to let you know that you should not post your full name, address, and certainly not your credit card number to the internet. This is dangerous.

    1 Votes
  • Je
    Jennifer Jul 21, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Unfortunately, what happens is that people often close their accounts and still have a balance that they are paying on. Therefore, they would not want their autobill to be cancelled. In fact, they would certainly be very angry if it was and they incurred late fees. Because people with closed accounts can still have a balance, closed accounts still accept payments.

    Unfortunately, you scheduled the payments to be withdrawn, and this means it is your responsibility to cancel them.

    0 Votes
  • Jo
    Joni Aug 08, 2008
    This comment was posted by
    a verified customer
    Verified customer

    The new ATMs are horrible for making deposits. Previously, checks were tallied and put into an envelope. The total was input into the machine and the envelope inserted. Two minutes tops. Now, each check must be scanned individually. Half the time the scanner does not read the number and you must zoom in to see it and input it yourself. It takes about 30-60 seconds per check. For someone like myself, self-employed with many clients and many individual checks per week, it now takes about 10 minutes to make one deposit. Then I have to re-scan my card to make a second deposit into a different account. Need I mention how irritated the people behind me are? Of course BOA didn't think to put two machines in each location. They claim that by the end of the year they will have machines that can read 10 checks at a time. I won't hold my breath. What were they thinking?????

    1 Votes
  • Al
    [email protected] Aug 15, 2008
    This comment was posted by
    a verified customer
    Verified customer

    My boyfriend has his checks from work directly deposited into his account at midnight each pay-period. He called the morning after the usual deposit and he had 700 something dollars in his checking account (as he should) he spent 200 on something and later was charged 400 something in overdraft fees, the bank says the 200 he spent was an overdraft... even though the money WAS IN THE ACCOUNT and was checked before he spent it. Makes no sense to me.

    1 Votes
  • Sh
    shell Aug 18, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Same thing happened to me.

    0 Votes
  • Al
    alan truong Sep 23, 2008
    This comment was posted by
    a verified customer
    Verified customer

    i just recieved a letter today Dated September 18th 2008 saying after careful review of my account they decided to close the account to future charges...This was my first credit card and have had it for 3 years with no problem...my credit score is gonna take a hit since that was the longest card i have now that im 21 years old. Here the fishy part, my older brother who is 29 and have 2 accounts with bank of america, same letter came to the house saying both his accounts is closed too...

    2 Votes
  • Se
    sean Sep 25, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I agree, the same thing just happened to me a few days ago for no reason. I don't have the best credit by this was after the first payment...

    2 Votes
  • Br
    Brian Sep 29, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I recently received a letter from B of A closing one of my cards with them, allegedly because I haven't used it in over a year. Because of B of A's acquisition of MBNA (and just about everyone else under the sun) I think I had three cards with them before this letter. I was surprised that they made this decision unilaterally, and would have much preferred a letter saying, "You haven't used this card in over a year. Please respond or use it if you'd like to keep it." As this thread points out, their unilateral decision decreases my overall available credit and will therefore cause the balances I carry on other cards to appear to be a larger percentage of my available credit, and thereby likely decrease my credit score. Doesn't seem like they should be able to do this.

    0 Votes
  • Jo
    joy Oct 03, 2008

    I hate Bank of America, they just did the same to me. I just gave them a $500 payment and they had the nerve to close my account because I asked for a new card! That is a big blow on your credit. I will never deal with credit other than my home!

    0 Votes
  • An
    anon Oct 08, 2008
    This comment was posted by
    a verified customer
    Verified customer

    What is shocking is when they do this reduce your limit to 0 and then charge you over limit fees and interest on the over limit fees. They did that to me and then told me I could get an interest rate reduction after 6 months if I don't go over the limit. Class Action anyone? I am still waiting for them to turn on the disability insurance I paid for.
    The insurance is supposed to pay off my card.

    0 Votes
  • Ja
    jackie Oct 16, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I just found out today bank of america closed my account with them. I never missed a payment and i dont owe them alot of money. I called to add a authorized user to my credit card and they checked my credit report and said i had to much revolving credit. By the way i have no deliquencies at all and i pay all my credit bills on time. So now my credit is ruined because of them. I wonder if they are the undercover credit bureau or something? Can someone be done can they get away with ruining peoples credit?

    0 Votes
  • Ma
    Marie Nov 09, 2008

    I have a Bank of America card. A card that started off as a MBNA card back in 1999 when I first got out of college. Over the years the have increased my credit limit to $10, 000. And it is about maxed out. I am not an irresponsible spender. The debt is due to a period of unforeseen unemployment and a break-up of an engagement which left me with nothing.
    I have been a fantastic customer. Always on-time. My promotional 0% APR just ran out and my minimum payment jumped from $139 to $278. My husband and are not doing great financially right now. He lost his job that we moved to this town for and I am making below what i should be. But we have been getting by and all bills are still on time. Once I saw the new minimum payment I got a bit concerned and called Bank of America on 11/3. I wanted to see if they could lower my APR which is a high 18.34%. They would not. I explained that I was calling because I was concerned about making the minimum payment at this time in our situation. They transferred me to another gentleman who discussed the option of different credit counseling companies. A path that I do not feel I need to take. So fine. I had no luck. Then MY luck turned around and I got a transfer to new job in my company with a nice raise and my husband finally got a job after over a year of looking! Great for us. I sent in my new minimum payment to Bank of America because i had the extra money. A payment that is not even due until the 18th. I figure. It will be a little tough but I can do it and I just recently paid off some other things so I will use that money towards this.
    Ok, this is the part that starts to baffle me and left me in tears. Today I decided to get my free annual credit reports for the year. The first thing I see is that it lists my Bank of America as closed. What? I did not close it. I called Bank of America. The automated system says my card is closed. I get a rep and she explains that since I called and expressed economical hardship they closed the account to protect their assets. Are you kidding me? I made the payment! I have never been late! I have had this account since 1999. I get a supervisor and he tells me the same thing. He says when I called in and spoke with the gentleman about my options that he ran a snapshot of my credit and they felt that I have too much credit. And this is to prevent me from using this card. I have not used this card for purchases for well over 5 years!! And my other credit cards are not late ever! I will skip an electic bill before I skip a credit card bill. So then I said. OK, you closed my account can I at least get a lower interest rate so I can pay this off quicker. His answer was "no", "we do not negotiate APR for closed accounts." How can they do this? This was my longest standing credit card! This will will my credit score! And for no reason!

    Funny thing is they closed my account on 11/3 which is the exact same day that I called expressing concern of the payment due on 11/18. And guess what...I paid them the 278 on 11/6.

    0 Votes
  • Va
    Valerie jean Nov 20, 2008
    This comment was posted by
    a verified customer
    Verified customer

    My and my husband's accounts were closed by BOA and we have good credit. I have also spoken with BOA to no avail. What can we do?

    0 Votes
  • An
    ANONYMOUS Nov 26, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I LOVE THE NEW ATMS!

    0 Votes
  • Mi
    mike bunch Dec 01, 2008
    This comment was posted by
    a verified customer
    Verified customer

    i got the same letter. dated the day after i updated my address on their website. rediculous...

    0 Votes
  • Na
    Nancy Dec 01, 2008
    This comment was posted by
    a verified customer
    Verified customer

    BOA closed my credit line for no reason at all. This will now lower my FICO score and show on my credit report as an account closed by creditor. I have also spoken with several BOA reps who claim this was a "periodic" review. They also lowered my credit limit on a credit card I have had for over 8 years. They cut it by almost 75%. Same reason, "periodic" review. I recently made a large payment on the credit card and based on what I have read here, this seems to be BOA's typical practice. Nothing on my credit report is any different than when I was originally approved for both of these accounts. As far as I am concerned, their liberal lending should not be my problem. I should have have to suffer and have a lower credit rating because they were (are) an irresponsible lender. They have done nothing other than give me the run around.

    0 Votes
  • Li
    linda mosley Dec 12, 2008

    COULD YOU PLEASE REPLACE THE MONEY TO MY ACCOUNT I HAD CANCELED THE ORDER AND THEY STILL TOOK MY MONEY

    0 Votes
  • Bc
    bcc Dec 22, 2008

    I called BofA today 12/22/08 because they doubled my interest rate. I was transferred to a credit analyst and asked if she could run my credit report to find a card with a "lower interest rate". After pulling my credit report she cancelled both of my cards. I have a "good" credit rating, always make payments on time and only missed one [ayment by $3.00 because of an error I made when I made an online banking payment 3 months ago. At that time I called b of a and explained the error and I was assured that there would be no negatives on my credit rating or credit report. Now my credit is going to be ruined...I have worked so hard the last few years to get it up to the 700's...

    0 Votes
  • Ma
    Marie Dec 24, 2008

    I posted here about 44 days ago you can see my post above. i wanted to give you all some advice that worked for me. I filed a complaint with the Better Business Burea and even though Bank of America still is keeping my account closed they are fixing it so it does not show on my credit report. Not sure exactly how that works but at least it is something.

    0 Votes
  • Dl
    dlindland Dec 31, 2008

    BE VERY CAREFUL - THEY HOLD YOUR FUNDS -We are a non-profit business. One of our checks came in and was returned. We still had a positive balance on our accounts. However, after 7 years and no warning, BOA froze ALL our accounts on December 23rd at 8pm. No warning, no nothing. Our money has been unable to be accessed for 8 days so far. Supposedly, "corporate has decided that we are a high risk customer" and is closing our accounts on December 31 (today) We are going to be mailed Cashier's checks from each account today - supposedly.

    Our non-profit business serves the youth. I am not sure how to publicize this event but I want everyone who has an account with Bank of America to switch. They will pull your accounts at a moment's notice without telling you, no matter how long you have been with them or how much money you pass through them. We are small but still passed over $750, 000 through them this year. There is no one local to talk to. The branches are at the mercy of "Corporate" and can't help you. I have opened a new account at TD BankNorth and it is nice to talk to humans who actually know you and actually want your business. What was amazing to me is that they closed my wife's and mine personal accounts also!! They have frozen them since December 23rd despite having positive balances!! Fortunately we have other means of buying food, gas, etc. but had we not we would have had a terrible holiday season!

    If you own a local business do not bank with Bank of America. They do not care about you and their local branches are completely powerless. Go with someone you can have a personal relationship with.

    0 Votes
  • Ma
    Matt Jan 27, 2009

    Just spoke with BOA to inquire about lowering my APR. The rep asked if I was going through any kind of financial hardship and he said he could lower my APR from 28% to 19%, naturally I responded that in this economy most of us are trying to get by. I advised him I did not want to make any changes at this point and that I was only inquiring about this account and he said sorry but he's closing it. He told me I brought up the financial hardship when in turn he spoke about it right away and said he could help lower my payments because of it. He completely lied to me just so they could cut their losses. I am waiting for a call back from a supervisor, but I doubt this will solve anything. They are raising the APR on accounts to get people to call in and then they are getting you to talk about your finances and then they close the account. In no way did I need to cancel this card and ruin my credit, I just wanted a lower rate. I did the same thing with other cards and they gave me lower rates.

    0 Votes
  • Oz
    ozforme Jan 29, 2009

    I have had a card with Bank of America for over 5 years and have been paying faithfully on my account. I have never been late with a payment but today received a bill saying my interest rate had been raised from 9.90% to 24.99%!!! This is outrageous. I pay on time, every time and yet I am being punished. I cannot pay this new bill. It has more than doubled my bill. They said it was common but they are the only company who has done this. She said she can lower the rate but I can never use the card again. So, again; I am being punished even though I pay on time, every time. No wonder there is so much bankruptcy and foreclosures.

    0 Votes
  • Co
    concerned-for-the-future Jan 30, 2009

    The same thing is happening to my rates. Please call all of your elected officials and give them your feelings at http://www.usa.gov/Agencies/Federal/Legislative.shtml. Banks are borrowing money at record low prices and we are paying record high interest rates.

    0 Votes
  • Je
    JEC Feb 18, 2009

    BOA closed my account last week, never been late, never missed a payment. I went to Dentist and card was denied, got home and received letter that day saying they were closing due to Credit Report from Experian saying I had late payment to another Creditor. I pulled Credit Report and no such thing on it. Called and Customer Service Rep stated that they closed due to what was on Credit Report. I let her know I had the Credit Report in front of me and that there was no such thing on it. She put me on hold and came back taking my information again this time saying that in December I had made a minimum balance payment. I told her yes but the payments since then were three times that. She put me on hold again and this time came back and said that there were two accounts from 2005 that I had paid less than what they showed was owed under an agreement. I said yes but that was due to dispute on amount owed and I proved the correct amount and paid it. She then said that because I made minimum payment in December that I must be having financial problems so she was keeping the account closed. I let her know I am not having financial problems but it did no good. The account is now closed and she got to decide without absolutely any verification. I only owe around 2000.00 on this card so plan on paying it off and going elsewhere if I can find someplace that can be trusted not to be so dishonest in there dealings.

    0 Votes
  • Th
    Thieves Feb 19, 2009

    This bank is the worst. They changed my APR rate from 10.24 to 19.99 without contacting me. When I realized it had changed I called them and the refused to change it. They said the change was due to me having a high revolving balance with them. Okay, this is true, but think about this. A customer has a high balance, does it make sense to jack up their rates so it's harder for them to pay down this balance. Hmm...I would say no! Well, long story short I argued back and forth with them and they wouldn't budge so I reported them to them better business bureau. We'll see what happens. This bank is horrible! The first thing i'm doing when I pay off my credit card is closing it down.

    0 Votes
  • No
    nomorecredit Feb 23, 2009

    Had an account with MBNA since 96, later bought out by BOA. Last year, BOA started cutting my credit short in $5K increments. Now, they canceled all of my high limit cards. Never been late on a payment. BOA will pull the rug out from under your feet. You cannot and should not ever consider BOA to be a reliable or trust worthy creditor. What good is credit if you can't depend on it being there when you could use it? It appears that BOA is cutting their loses before they happen. Probably a smart move in this economic climate. Credit cards are going to become a thing of the past.

    0 Votes
  • Dr
    drb46 Feb 25, 2009

    I have had a BOA Visa card for at least 20 years probably more like 30 years. It's the type of card such that if you pay the balance each month then there's no charge to use the card. 99% of the time we pay the balance in full every month and have never been late with any payment.

    Yesterday, we received two letters from them. The first letter said that our account information may have been compromised at a third party location, but then went on to say that they see that no evidence that our account has been misused in any way. But just to be sure they are closing our account and issuing a new credit card with a new number which, oh by the way will now include a $30 annual fee, plus probably a higher interest rate. Now it's not that we can't afford the $30, it's the principle.

    BOA must be in REALLY BAD trouble to pull a stunt like this. What ever happened to morals, ethics, and honesty in business in the USA? Bank of AMERICA? Should be Bank of CORRUPTION!

    They no doubt have a large number of credit card accounts and will produce a lot of income by doing this, but I won't be contributing.

    0 Votes
  • Sh
    shecota Mar 01, 2009

    Bank of America sucks! and I agree it is very corrupt, instead of helping people who want to pay their debt it is forcing people into financial difficulty by raising their apr's for no reason, and increasing monthly payments. I too will file a complaint with BBB, i hope you all will too! I hope they go under!

    0 Votes
  • Ma
    MADconsumer Mar 02, 2009

    I was with MBNA since 1995. I had a credit card account and later a loan account totaling 14, 000. They closed my loan account in 2000 for reasons I still dont know. I was late maybe twice but always paid every month. I called in 2007 AFTER BANK OF AMERICA TOOK OVER MBNA to see if they would reopen my loan account for a transfer --- so DURING THAT PHONE CALL they decided to also close my credit card account. Simply because I asked to reopen the other account! Even though i was current and in good standing for 36 months! Apparently since I didnt qualify for reopening the loan account -- that meant they had to close the credit account? I did the whole spill about ruining my credit further etc. --- THEY DONT CARE! THEY CREATE THE SCENARIO THEMSELVES. THE ENTIRE CREDIT INDUSTRY IS A JOKE! BANK OF AMERICA IS THE MASTER OF CEREMONIES!

    0 Votes
  • Ta
    tanyap117 Mar 02, 2009

    MadConsumer: I had this same stunt pulled on me just this past week! BOA called me after I had requested a credit line increase online through my account. I have been a BOA customer since 2002. NEVER once been late on a payment in all that time. In fact I've had $300 payments coming out of my checking account since the card was opened (we use the card for groceries, gas, etc, and then pay the bill off). Last year my available credit was over $34, 000. A few months ago, they called and said they had to reduce my credit limit. So I agreed to have it reduced to $5000. Fine, whatever, I didn't need $34, 000 anyway. So fast forward to this past Friday, and they called and said they needed to verify some info to asertain if I could get more credit. I said to the lady, nevermind, forget it, I just asked as a matter of course, but I don't need it. So she went on to tell me that my credit card account had to be CLOSED! I said what??? I thought you were calling me to see if I could get a credit increase? Well, she just said she had to make a determination about my account and she determined it had to be closed. I said "but this is my longest credit history, and this will affect my credit". Nope, she didn't care, and after we exchanged words, she actually HUNG UP on me! I was so pissed that I called the customer service number and spoke to someone else. Got my account reinstated and with a credit limit of $1000. Better than nothing for sure! At least my credit report won't take a hit. Here is some advice:

    1. DO NOT request more credit! It is a red flag that you are over extending yourself, and BOA is in no mood to extend more potential debt to consumers who may use if because of job loss, etc.

    2. If you find that a rep is telling you he/she is closing your account, and you are not happy about this. CALL BACK! Chances are, you will get to speak to someone who has not already made a judgment about you and your account.

    BOA is in really bad financial trouble right now, but if you have a good credit history, and have had your account for a long time, don't let them push you around. They are using your hard earned tax money to stay afloat, so you still have the upper hand as a consumer.

    0 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions