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Bank Of America / scam and abuse!

1 1207 market street, Wheeling, WV, United States Review updated:
Contact information:
Phone: 3042332440

I am a business owner... I applied for a business bank of america visa card... For money in money out use for customers paying by cash and repaying there purchase with a credit card... Never was late with payments paid the balance... But but... Bank of america visa never told me that they charge a daily interest rate and inhinded charges on top of there monthly interest rate... Which we were unaware of... After three years... $15, 000.00 dollars of interest was added on to the visa card... Can this be real... How can they get away with this robbery... We finally got a loan and closed the acct. And please be aware of this horrible company... I hope this helps people out there thinking about a credit card for there business...

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Comments

  • Cs
      13th of Oct, 2008
    Bank Of America - they closed my accounts without notice
    Tennessee
    United States

    I called Bank of America to ask if I could lower my interest rates on my cards only to be told that 24.99% is a good rate and the only way to get a better one is to be a new customer. What? That's ridiculous! Two days later I called to see what my balance was only to find out that my cards had been closed! I have never been late and always make more than a min. payment! What is going on?

    0 Votes
  • Pe
      13th of Oct, 2008

    Unfortunately it is in the fine print. I too had several accounts with B.O.A. All were paid on time. I did not have high balances. They canceled them without notification. Oct 1st was the date they canceled them. It was just two weeks after receiving new cards that did not expire until 2010. Funny they still charged my annual fees on my statement I just received. Scary to think the top executives of B.O.A. will be meeting with the US treasury to finalize how my tax dollars will be spent to bail their a** out.

    0 Votes
  • Sa
      16th of Oct, 2008

    I've had a credit card out with bank of america for over 2 years now and have never missed any payments but they won't lower my apr. A "Specialist" told me reason being that i only pay the minimum amount due which makes them think that im struggling! I've never been late on any of my payments in over 2 years and that is my reward. Ive never defaulted on any of my payments on anything for well over 3 and a half years. This is real bull.

    0 Votes
  • Ma
      20th of Oct, 2008

    I had a credit card out with Bank of America for over 2 1/2 years now and never missed any payments, I had a good credit history, paying off the credit card at the end of the month. I mailed my payment prior to the due date but it was not posted until one day after the due date and I was charge $39.00 finance charge. I called to get it credited and the Customer Service Manager stated that due to their policy they cannot refund the total amount because I was late. I told him that the payment was mailed on time, but they posted it one day later, he stated it is not the banks fault that the postal service is late delivering the mail they have their policies and must charge the late fee. This is very disappointing the same incident happened with USAA, but they credited the late charge because they realized the postal service problems and the check was posted one day late on their files, but the late fee was credited. I support 100% USAA they are customer friendly and work with the public.

    0 Votes
  • Fl
      23rd of Oct, 2008

    I called to determine why my account had a $1000 charge to MBNA. I was told I had written a check which I hadn't done. Late September, I received a Master card and checks urging me to use both accounts to pay off bills. I used one of the checks for my dentist. They returned my check and have closed my accounts. PLUS the chanrged $39.00 to return the check on my closed account. The only explanation their customer service can give me is check my credit report. I received a letter later in October stating they had reviewed my credit history and determined that I was no longer credit worthy. BUT if I would request it they would review my credit status. What kind of mumbo jumbo is this?
    I agree-it urkes me to think of the $10, 000 + I pay in taxes going to pay these guys out of the hole for their malfeasance. BUT what I predict will happen is they will use our tax dollars to buy out other institutions at low dollar ratios for assets while we continue to lose and continue to bail out other institutions. HOW can anyone who has used such poor judgment diem me or others not credit worthy. I have always paid them on time and paid in excess of my minimum payment.
    Our lawmakers need to open their eyes to what they are condoning or funding. I don't think it is the American public or worker.

    0 Votes
  • Va
      27th of Oct, 2008
    Bank Of America - Rate increase
    Bank of America
    United States
    bankofamerica.com

    Bank of America just raised my APR on my credit card, even after I received a letter stating that my APR will be unchanged, unless I use my card.

    I didn't use my card, and still got my APR raised.

    0 Votes
  • Ta
      31st of Oct, 2008

    I am on my second BIG BEEF about B of A trying to "steal" my money ! The first time, when the IRS sent them a 'INTENT to Levy', (also a scam "to WANT/not Take" your tax money from various entities). B of A TOOK THE MONEY ANYWAY & CREDIT LINE CHK$$$ (IE; NOT MY money, but credit line 'LOAN-U' money>in case of ov-drft). Why give IRS credit line money, unless THIEVES??? (ps; the next day, IRS rescended every penny via fax)
    Secondly; I recently bought into a internet advert. co. that was making us "little people money"!!! (The govt steps in, freezes $93 mill., calls the net co. a "Ponzi" & now in fed court). Now a legal battle to GET $$$ BACK...
    $$$93 million US Money, ALL held in B of A, " FROZEN/HELD" in a B off A acc. while the US Govt. "investigates" the internet co...
    Geeeeee; what a coincidence during a time that banks are failing!!!

    0 Votes
  • Ta
      31st of Oct, 2008

    B of A took over a very STRONG & PROFITABLE Nevada Bank... Then began cutting jobs & benefits from day one. Within one year, I was 'promoted, employee of the month then in less than 30 days, fired'... Go figure. How can a company incorporate "America" in it unless it has "our interests" in mind.

    0 Votes
  • Kr
      1st of Nov, 2008

    I agree, they charged me six overdraft fees when according to my statements i was never overdrawn. When I went to talk to them they told me there was nothing they could do, that according to their system i was overdrawn yet I have no access to this information and they never made it available to me.

    0 Votes
  • D
      19th of Nov, 2008
    Bank Of America - INTEREST RATE
    BANK OF AMERICA
    United States

    I CALLED BANK OF AMERICA TODAY AN REQUESTED A RATE DECREASE AS I HAVE BEEN DISABLED FOR AWHILE. NOTE...I HAVE BEEN MAKING MY PAYMENTS ON TIME. I JUST WANTED TO GET THIS CARD PAID OFF...ANYWAY AFTER BEING PUT ON HOLD I WAS TOLD THAT THEY WERE CLOSING MY ACCOUNT ! I ASKED WHY AS I ONLY ASKED FOR A INTEREST RATE DECREASE.HE SAID SINCE MY INCOME WAS LESS NOW THEY WERE CLOSING IT...WOW...I WILL NEVER USE THIS COMPANY FOR ANYTHING...

    0 Votes
  • An
      20th of Nov, 2008

    There should be a law firm willing to help people with this same problem. Bank of America has the ability to change the information in any account on a day-to-day base. They FROZE my daughter’s account for a cash deposit that included a check for 17.00. the cash would have avoided the overdraft but the bank froze the whole deposit for that check and she got overdraft fees for up to 350.00.
    I haven’t found a law firm willing to look this up. The Bank does as it pleases with everyone’s monies.

    0 Votes
  • Ta
      22nd of Nov, 2008
    Bank Of America - Closed my account and won't relase funds
    Bank Of America
    Tustin
    California
    United States

    Risk managment closed my account and won't send me the money even when I say I need it asap and all they wil do is send a cashiers check in a month probably. I am on hold currently with a manager of the department and its taking about an hour and no one yet. If anyone has any ideas I'd appreciate it

    0 Votes
  • An
      26th of Nov, 2008

    what's the big deal about putting your finger print on the check? I don't see how that is something to complain about! might as well complain that you have to sign it and show ID too!

    0 Votes
  • La
      26th of Nov, 2008
    Bank Of America - auto loan
    1730 N.W. 50 st
    Miami
    Florida
    United States
    Phone: 786-897-9607

    i had a auto loan in 2004 and the account is close but it still on my credit report and its a hit against me

    0 Votes
  • Va
      2nd of Dec, 2008
    Bank Of America - Terrible experience
    Bank Of America
    United States
    bankofamerica.com

    In short, I've decided this morning to move forward with the acceptance of the agreement despite feeling extremely disappointed. It's the only way I can move forward in this situation. It is only for a year and at that time I will get my money back, but trust me I have learned a lot about the experience and going forward I will know that no one has your best 'interest' at mind except literally the bank.

    0 Votes
  • Un
      22nd of Dec, 2008

    I just got off the phone with Bank of America's customer service. They placed a deposit hold on my account.After being on the phone for 45 min.no one could tell me why the hold was placed. How come ...??? They placed the hold they should know. All I know is that I have checks that I wrote and they will post to my account and now due to the "deposit hold" im will probably end up being charged overdraft protection fees. Someone please leade me to the right direction, I want to complain to someone who can investigate this bank further more...

    0 Votes
  • Ci
      29th of Dec, 2008

    I am looking for people interested in starting class action against BofA. I have an attorney who is interested if I can drum up the business. Your complaint sounds similar to mine. Call me if you would like to talk about it. 541-297-2421.

    0 Votes
  • Hj
      9th of Jan, 2009
    Bank Of America - credit card interest
    Banof America
    Maryland
    United States

    They say that my wife was late on a payment, we have proof that we paid it on time, yet our interest went from 9.9 % to 22 %, payment from $203.00 to over $600.00 we have always paid our credit cards on time. See how the Bank of America treats people, Everyone stuggling to do whats right, They got there money from our Gov. now what.
    Jack Raleigh NC

    0 Votes
  • Jo
      1st of Feb, 2009

    Thank you for listing your complaint. I am experiencing the same problem. Interest rate at 9.9 and Bank of America raised it to 22% without notice and without missing any payments. I contacted them and the person on the phone told me that they raised it and there is nothing I can do. Very rude attitude. Yes, we are supporting the bank with government funding (taxes) and they are abusing their customers. I borrowed the money with the understanding the interest rate is 9.9 percent and they received a statement that was more than double the regular payment. This is not right. I am taking the needed steps to get away from Bank of America.

    0 Votes
  • Ma
      5th of Feb, 2009

    BANK OF AMERICA IS NOT BETTER THAN WELLS FARGO...THEY RIP YOU OFF BIG TIME...DID YOU GUYS KNOW THAT BANK OF AMERICA MAKES A LOT OF MONEY WHEN WE USE OUR VISA CHECK CARD RATHER THAN THROUGH THE ATM SYSTEM...YUP THEY DO...I USED TO WORK FOR BANK OF AMERICA FOR 7 YEARS AND MY BOSS WOULD ALWAYS TELL US TO KEEP USING OUR CHECK CARD THROUGH THE VISA SYSTEM SO THE COMPANY WILL MAKE MORE MONEY...THINK OF HOW MANY PEOPLE HAVE BANK OF AMERICA VISA CHECK CARD...THINK OF HOW MUCH MONEY THEY WILL LOSE IF ALL OF THESE PEOPLE DON'T USE THEIR VISA CHECK CARD AS CREDIT...IN JUST ONE DAY, PROBABLY HUNDREDS OF DOLLARS OR SO...SO DON'T USE YOUR CHECK CARD AS CREDIT...!!!

    0 Votes

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