Bank of America Credit Card Complaint
Complaint
Leo
Country: United States
I had a credit card with MBNA with a credit limit of $10,000. Once Bank of America bought MBNA, they reduced my credit limit to $7000, and increased my interest rate from 13% to 28%. I always paid on time, never missed a payment to any financial institution. When I asked them about the reason for these changes they said it "had to do with derogatory items on my credit report". I pulled my credit report and there was nothing new there since I got the card. I called them again, but they told they can do nothing.
Comments
Further, any kind of service from them is worst. Email correspondance takes 3-7 days to get answer while it says you should get response in 12 hours. You cannot see what's on statements older than a year unless you pay $5 per statement while such service is free for rest of the other credit cards from Citi, Chase, Discover etc. These are just a few examples. Everything single time you have to deal with the customer service, its a nightmare. I simply closed 2 CCs I had with them. Checking and savings were closed months ago. One of the worst services ever.
It is 12-10-2007, 10:43 AM CST yet to receive the over payment.
11-25-07 at 8:17PM CST Ms. Erin took my 1st call and promised to get this issue resolved by sending me the credit balance right back in 2 to 3 days.
To date I have not received my money back. I have made numerous calls to Chase customer service 800-436-7927 and why my money has not been returned back?
We gave you a promotional rate of 3.99% usually for about 6-12mos. We told you before you took the monies, if you don't pay the cash transfers, or direct deposits back in those 6-12mos., you are charged 19.99%, that is the price if you borrowed plain CASH anywhere. That is what you did and you just did not pay it in the promotional time frame....nobody to blame but yourself!
On Tuesday, May 26, I advised BOA that I was NOT making May payments because of this. The man started saying "we reduced your amount to help you out and all these would be paid off in June 2009." Baloney. They first wanted $254 back in March for 3 accounts; then it was $508 for 2 accounts (would have been $608, but they agreed to let the one account go for April); so God only knows how much they would have wanted between May and June - far too much probably. Anyhow, the guy keeps arguing so I hung up the phone and was shaking for about 30 mins. afterwards.
Anyhow, he KNEW that I was entering a debt relief program. Yet the next day, I receive another message at work advising me that I should reconsider.
Then yesterday, May 29, I received another message to call back by 9:00 p.m. Now mind you, I had them call my work number rather than home number cause I didn't want to be bothered at home.
Well, what do you know, at 7:45 p.m. the phone rings at home and I look up the number and it's the 302 number that they called me at work with. No message left this time, but talk about harassment!!
This company made 2 more attempts to reach me even though they KNEW I was entering a debt relief program!!
Now I'm pissed off and have decided that I am writing them a very nasty letter and cc'ing the FTC and the CT Attorney General about this harassment.
I told the BOA guy I had no choice but to go into this debt relief program, but he obviously only cared about BOA's accounts - no one else's. I bet you $10 they make a commission on this.
My mother use her card to by a camera as a birthday gift for someone about two months ago, now they say she don't pay her bills on time and her credit report shows she have bad credit but when she pulled up her report there was nothing on it! When she called them back, they refused to help her and told her that she will not be reissued another card and the services with her card is blocked..... They admitted she have never had one late payment and they admitted that they made a mistake with her credit, she has a high credit score.... So why did they drop her? They never gave a valid reason, only their computer said bad credit and slow pay on her card which they just admitted it was a mistake.
BOA SUCKS!!!
That is why I'm no longer one of their customers because they screwed me too.
I have a website business and I transferred money from my paypal account to my BOA account which I done hundreds of times but for some reason they locked up my accounts for unauthorized use, my account stayed locked for a month, during this time I had bills coming in that was drafted out of my account that accumulated and for each bill I was charged a fee by BOA EVEN THOUGH I HAD OVER 5000 IN THAT ACCOUNT!!!!! Once the account was unlocked BOA TOOK 975 in overdraft fees and other fees for letting the account get below a certain balance EVEN THOUGH I HAD MONEY IN THE ACCOUNT THEY SAID WHEN IT WAS LOCKED IT MEANT MY BALANCE WAS 0!
Once I got everything straight and that cost me almost 1000 in fees from a mistake on their part which they refuse to handle, I dropped them and open an account with chase, now I do all my business with them.
Can you help me, how can I figth this?
This was an issue becuase I had $14,800 charged on the card. The following month I received a bill for almost $2,000 in overage fees. I reluctantly paid what was due to keep my credit clean.
I get a letter a week later, and they said I am now a risk so my interest rate is being raised to 29%. And they cut my limit again.
With each and every paying month, they cut my limit to what is owed on the card, so it constantly looks like I am "Maxed Out"
December 2nd 2011, I had a balance of $5,500.00 so I said to hell with it, and paid the balance off. That same day BOA canceled my card on me, citing credit issues, even though I never missed a single payment with any of my credit cards, even though I paid back nearly $2. million in mortgages in less than 6 years, and even though I had tons of cash in the bank.
When I called to complain, they brought up the short sale from 2008. I reminded them that the short sale was there last year when they kept my card open.
They are crooks!! I'm fine to have as a customer when I am paying 29% on a $7,000 balance, and they are getting my $400.00 minimum monthly payments, but once I paid the balance off, and they can't juice me anymore I'm considered a risk!! Absolute Joke, especially after they used our tax dollars to get bailes out, then they have the balls to cut me off, citing credit issues!!
Call the Attorney General's office in NC and file a complaint..I did.
or Write the CEO of BOA
Ken D. Lewis
100 N. Tryon Street
Mail Code NC-1-007-18-01
Charlotte, NC 28255
Let him know how [***] his bank is!
Also, take all your cash out of the bank, close out all CD's, money market accounts, etc. There are better banks out there
Good Luck!
Some of your credit line had to do with the equity in your home that you short sold so what do you expect, your net value went down, your credit line goes down. I think 90% of people who are using credit cards have ABSOLUTELY no idea about how they work. They don't even take the time to read everything that comes in the mail with the cards because if they did, they would all shut up and stop blaming Bank of America and start blaming themselves for being naive to how credit and credit cards work. You obviously need to educate yourself a little because you make absolutely no sense at all!