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Resolved
Bank of Americalower credit limit

T

I had been having constant problems with BOA since they bought MBNA, I had an auto pay scheduled for a specific date of the month, they took my money out for a while, then they abruptly change my due date, but instead of them taking the money out on the new due date they decided to say I was late, charge me late fees and instantly increased my APR to 29.99%, since I have two other MBNA cards, they increased the APR on all of them and cut my credit line even though Ihad never been late on any bill in twenty five years.
They want me to get a second mortgage because of my credit card debt, I told them NO, two days after that they started cutting all my credit lines which now affect my credit score despite the fact that Iwas never late on any bill.
I love free enterprise but institutions like this are the reasons more people cry for Government Regulaions.They are a RIPOFF.

Responses

  • Bo
    BobDylon Dec 15, 2009

    BofA ripped me off also, lowered my credit limit to exactly what I owed the day before they put interest for month on my account. This of course caused an overdraft fee the next day, well before they even notified me of lowering my credit limit by 10, 000.00. I imagine they do this to raise extra money during slow months, as when I called they offered to increase my limit back to what it was. RIP OFF, use another bank.

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