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Bank Of America / b.o.a. closed my credit card account

1 P.O. Box 15019, Wilmington, United States Review updated:
Contact information:
Phone: 1-800-732-9194

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,

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  • De
      1st of Oct, 2007
    Bank Of America - Ripped off by Bank of America!
    United States

    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
      4th of Oct, 2007

    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,
    BHUBANESWAR - PIN- 751 010,

    -1 Votes
  • Lo
      9th of Oct, 2007
    Bank of America - Credit card - 2 years kid received credit card with a $10,000 max!
    United States

    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
      11th of Apr, 2008
    Bank Of America - Overdraft fees and rudeness!
    Bank of America
    United States

    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.

    0 Votes
  • Ch
      2nd of May, 2008

    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
      4th of Jun, 2008
    Bank Of America - Stealing
    Bank of America
    United States

    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
    email: customer.[protected]

    0 Votes
  • To
      11th of Jun, 2008
    Bank Of America - Return Fees To My Account/Overdrawal
    60 North Arlington Avenue APT#209
    East Orange
    New Jersey
    United States
    Phone: 973-419-4171

    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
      20th of Jun, 2008

    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!


    0 Votes
  • K
      18th of Jul, 2008

    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
      21st of Jul, 2008
    Bank Of America - Unauthorized fees
    Bank of America
    United States

    Hi my name is Sonia Buentello, live on 2301 Lafayette St, Laredo, TX. 78041. My Bank of America credit/debit number is 4744 7200 3125 1313 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
    (956)401-3528 or (956)712-6276

    0 Votes
  • Je
      21st of Jul, 2008

    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
      21st of Jul, 2008

    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
      8th of Aug, 2008
    Bank Of America - New ATMs
    Bank of America
    United States

    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
      15th of Aug, 2008
    Bank Of America - Overdraft fees, stolen money
    Bank of america
    United States

    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
      18th of Aug, 2008

    Same thing happened to me.

    0 Votes
  • Al
      23rd of Sep, 2008

    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 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
      25th of Sep, 2008

    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
      29th of Sep, 2008

    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
      3rd of Oct, 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
      8th of Oct, 2008

    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

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