Complain about a product or service

Bank of America Credit Cards

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BEVERLY of NIAGARA FALLS, NY August 8, 2009

The interest on my credit cards were increased by over 5%. Over the years BOA increased my credit limit because I have shown that I have been responsible and pay my bills timely. I have NEVER paid a bill late. Recently I requested an 1500 increase one credit card because I was getting rid of another card which I was paying off. I was using 38% of my available credit. They not only did not give me the increase but they reduced my existing credit limits by ovre 50% which makes my credit in use 95%. This makes me look unreliable and a poor risk. I think Band of America has become desperate and they want their customers to pay for their mistakes and their bonuses.

Kathie of Bend, OR August 8, 2009

I am a authorized card holder on a B of A cc that started out at 0% and went to 7.9% after a 1 or two late payments. The payment due dates were changing around up to four days and some payments were late. SOme I was able to remove.

When I saw that the rate changed to 12.9% last month, i called on July 30th to inquire and to request that the due date be set all the time at the 1st of the month so the late payments would no longer occur. I also asked that they reduce the % rate back down to 7.99%. They refused and stated that the best they could do was 12.9% because of the late payments.

I just got the bill today and they have now raised the rate to 29.9%with NO NOTICE! I talked with 2 senior credit analysts, one whom was very rude and I hung up swearing at him I was so [upset]. They other just wants to argue with me about how the interest rate will stay at 29.9% even though I was told on July 30th it would stay at 12.9%.

A Payment of approx. 45 a month has now risen to 134. This is outragious. I cannot handle the financial impact of such an increase. Emotionally, I am already under severe stress due to lack of decent employment.

Joseph of Seabeck, WA August 8, 2009

My wife has credit cards with BOA, maybe some with other banks. My wife has owned a Pizza Restuant for almost 6 years. Here business has been real slow for the last year. With this slow economy she fell behind in her credit card payments. The Bank card services contacted her and talked her into taking cash advances from my Home equidy-line of credit to the tune of 6800.00. This Home equidy-line of credit was opened to buy my wifes Pizza buiness.

My wife had been making payments on this loan until july when she missed her first payment. I assumed the payments on this loan by making a payment yesterday(8/7/09). BOA credit card services also made her set up big automatic payments to them that made it almost impossible to by product for her business, to pay her rent, pay her electric bill, pay her phone bill, she had to let her only employee go, etc.

I am a retire ferderal employee living on a fixed income. Now i pay on the Home equidy line-of-credit that totals about 540.00 a month. There is not enough money left in my income to support things like gas for the car, bridge tolls, etc.

Anna of Brooklyn, NY August 8, 2009

I have always prided myself on my credit score. About 9 months or so ago I received a letter stating that my Bank of America visa interest rate of I believe it was 2.99% or 3.99% was going to be raised to about 13%. I called the bank and was told basically that because of all the foreclosures in the real estate industry that the bank had to make this money up so how. I told the very snitty rep that this was unfair why should I be penalized for people that could no longer make there house payments? She had no answer for this. I have a credit score of 790-which apparently means nothing anymore. The rep told me the only way to get a lower interest rate was if I closed my account. So I closed the account and the payments have quadrupled.

Last month I actually double the min. payment and the bill the following month only decreased by 2.00(yes two dollars). I called the Bank of America this past Monday and was transferred to Bob "Debt Stress Specialist". I explained to Bob that NYC has been in a recession since 9/11, my rent has gone 180.00 in the past 18 months or less, transit, groceries, my employer has cut my salary 5% and that they have had trouble within the last 4 months meeting the payroll. All I wanted was my payment of 255.00 per month lowered to 175.00 per month. Bob told me that there is a payment plan offered there designed to pay off everthing within 5 years but told me I had to call consumer counseling-who he conveniently had the phone number for first.

I advised him that I had read and had been told horror story after horror story regarding debt consolidation and consumer credit companies and that they were a big rip off and had decided I didn't want to go that route. I was willing to negotiate with the Bank myself, I did want to pay them and felt a slow pay on my credit was better than a bankruptcy for both of us. Again, Bob refused to help me advising me I had to call the consumer counseling company he was referring me to first. I asked him straight out is this company another Bank of America company and he stated no. I believe that it is or they are some how else intertwined to benefit each other.

Dave of Independence, MO August 7, 2009

The mishap started with a simple mistake they made by accidentally transferring 41.3 Million dollars from my brother’s company card to my company card. Of course the amount was supposed to be 413 dollars. Well, a few days later to our surprise, we were informed by the bank that we owed 1943.99 in finance charges for the few days that 41.3 mil dollar amount was on our credit card, plus a 49 dollar late fee if we didn’t make a payment in full, on or before our monthly due date.

Due to our failure/unwillingness to pay their 1943.99 finance charge within a couple of days, they decided to close our Small Business Account without notice, I guess in fear that we would go out and spend the 41.3 mil before they had a chance to rectify the problems on their end. A hold on our card would have been upsetting yet understandable, but closing our account completely? The problem continues to grow when we immediately request it to be reopened.

Acting on our request, Bank of America decided to run a credit check on both my brother and I…something they say is routine procedure when opening a new account. New Account… Are you kidding me? Come to find out, the affects of a poor economy and my lack of revenue during this time, resulted in lower credit scores compared to what I once had when we opened the business account 5 years ago. Upon their discovery, Bank of America has decided , even though our business has always been in good standing, that our company presents too much of a risk if we were to continue to have me as a shared guarantor on the account. Their suggestion is to re-apply for a business account and use my brother as the sole guarantor. Common sense tells us, the end result would be a smaller credit line at now a much higher interest rate. Not only has their mistake brought our business to a complete halt, making us lose some much needed business, but now they’re offering to do business with us again…this time making more money off of our business through higher interest rates? Now that’s great service.

EW of Philadelphia , PA August 6, 2009

I had a 6000 balance with Bank of America at 10% when I missed a payment. The result was that they raised my interest rate to 30% AND reported it to the credit bureaus thus damaging my credit score. I tried to get them to lower my interest but they refused to do it. I decided I can't live with such a high interest and started borrowing money to lower my balance. After paying off 4500 of balance I got a letter from BoA that they had lowered my credit line to just over my remaining balance.

I couldn't understand why so I asked them. They said I owed too much money on other credit cards. I asked them if they're not interested in my business any more and they seemed surprised and told me that my card is in great standing and they sure are interested in my business. I then found out that they had again placed in inquiry with a credit bureau which further damaged my credit score. So I decided to stop having to deal with this company: I took out money from a savings account, paid it off and closed the account (when I wanted to close it they first told me that there was a fee for closing it; I was so irate that they agreed to "wave" it).

Tony of Simi Valley, CA August 6, 2009

They rasised my interest rate from 7.90% to 12.90% said that they send opt out option that I didn't get and said I missed time frame to keep rate. They would not reduce to original rate. I have the card on autopay and have not been late. What a rip-off!!!

pedro of rockledge, FL August 5, 2009

I have had a B of A visa card since 2000, they have jacked up my interest rate to 23.29% even though I have allways made my payments on time. When I called the "credit specialist" I talked to stated to me that "due to the high number of deliquencies the few would have to make up the losses & pay for the many" and that they could not lower my apr, when I told them that at this rate it would be harder for me to pay off this debt, he went a step further and said "In that case I am going to go ahead and close this account, you can no longer use this card" and proceeded to hang up on me. Sure enough the account is now closed, but my interest rate is still at 23.99%

Anthony of Las Vegas, NV August 5, 2009

I got a BofA statement just recently and notice late fees and interest went up to 27% for being so-called late once and once only with them. The bill was due on a sunday (which the banks don't open) and I posted my payment to there website and all 3 managers told me that Yes we see that you posted it on the 18th (saturday) but since the due date is on sunday and we (BofA) posted it on a Monday it's late. How is this possible?The bank doesn't open on sundays and this is not even a business day and they are faulting me for it.

I have had this card for about 3 or 4 years and never, never been late with them except this time as BofA would say. If there anything I can do as they sure won't. It sounds like the tax payers (us) helped them out and now they want more money from there loyal customers.

Carol of Tavares, FL August 4, 2009

They arbitrarily closed my credit card account when my account is current, I have paid as agreed, and the account is in good standing.

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