Bank Of America / living nightmare!!!

Fresno, CA, United States Review updated:

BOA is an perfect example of what does NOT work in America! I had my credit cards, mortgage, savings and checking accounts with BOA and it meant nothing to them when they jacked up my CC rates after I missed my payment dues date by one day and then missed my minimum payment by 82 cents! Both cost me my favorable 8.5% rate and after calling them to ask them to be reasonable and take into consideration my many years of charging and paying all their bills faithfully and on time, they rewarded me by reducing my credit line from $15K to $8K and because they did that, my outstanding balance now amounted to more that 80% of the credit line value so I was hit with another penalty and my interest rate went to 28.8%! Our AAA credit cards which were funded by BOA interest shot up as well and because my wife had her AAA credit tied into mine, her AAA BOA credit card rate went up as well! After spending countless hours on the phone mostly waiting after the automatic attendant placed me in Queue, I was not allowed to speak to anyone who had power to change the rates for me!

Seriously, I've had many banks in the past (Boston Five, Suffolk Franklin, Bank of Boston, Bay-bank, Citizens, Mt. Washington bank, South Boston Savings, Massachusetts Cooperative, and a few others) but I have never been treated with such disdain or impertinence and ultimately rudeness and disregard. Bank of America should have been allowed to fail so that perhaps out of the rubble a few decent SMALL banks could rise.

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  • Jf
      19th of Mar, 2012

    I've already posted my opinion about Bank of America. It's a doomed to fail bank because it does not understand that people are it's customers and people matter. My wife and I dumped BOA and we refinanced with a local credit union. Try to get in with one if you can. They seem to be more like the banks of old that I remember, and worked with us in Boston. Also, note that their accounts actually pay an interest rate that you can calculate with out too many digits to the right of the decimal point: what is 0.05% on a savings account anyways? It's the principal of it that I'm talking about here. The kids can actually see their acct grow with the credit union. Check it out you may like them.

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