Complain about a product or service

Bank of America Credit Cards

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Cecille of Culver City CA (11/22/08)
I have 3 credit cards with bank of America for 6 years now. I have a very good credit rating so they offered me more thanI really needed. I have been very good with paying on time, more than the minimum payment for the last 5 yrs. Then this real estate collapsed with the mortgage subprime, and we were very much affected by it. We have relied a lot on these credit cards to help us get by. But lately, with everything that is going on right now in the economy, I have only been paying the minimum payment, but still on time. BOA lowered my credit line.

 Then my payment came in 2 days late from the due date, and right away they increased my APR to the delinquent rate. BOA reps. are very unsympathetic and inconsiderate. The fact that I have been paying on time for years didn't matter. They just want more money from me. They are not willing to work with you. They actually transferred me to a non-profit organization that helps you with your debts and lower your payments. I told them that I wasn't interested in that, and that I just want my APR lowered so it's easier to make payments. These non-profit orgs. work for them, and what they do is they negotiate a lower payment for you but you have to close your credit cards and agree to their terms to insure that BOA still get all their money back.

This will also affect my credit rating. Since I told them yesterday that I wasn't interested to talk with their non-profit org., they punished me today by closing all 3 of my credit cards! By BOA closing my 3 credit cards, my credit rating will be affected tremendously. But they don't care.

Aaron of Benicia, CA November 20, 2008

Aaron of Benicia CA (11/20/08)
I am writing to complain about the actions of Bank of America. Back in August of 2008, they started sending out notices raising their rates from 14% to the 25% level to users of their cards. Even if the credit cards were paid on time, it did not seem to matter to them. There have been various complaints against them in other states and in California. They continue to raise people's credit lines and then they send out notices stating they are raising your interest rates to astronomical levels if you continued using the card.

I considered this a bait and switch program devised by their corporate office. I also consider it to be predatory lending which needs to be curtailed if they are to operated in the state of California. Even if one has done business with them for years by having their checking, savings, and other investments with them. Being in good standing with them does not seem to matter. It is my belief, they are trying to cover their bad debt created by their issuing of credit cards to people who cannot pay them back. It is also my belief they are using this practice to pay bonuses to their top level executives and to buy other financial institutions to increase their market shares in the investment community.

Many other states have already enacted laws to prohibit this type of practice on consumers and are investigating them on their business practices. They also pulled a shenanigan a couple of years ago to increase the rates for people who paid their utility bills with a credit card. If they are to operate in California, I think there should be constraints put on them to operate fairly and above board.

Larry of Santa Fe, NM November 20, 2008

Larry of Santa Fe NM (11/20/08)
Bank of America allegis that I have a credit card and balance due with them, which I do not. They refuse to send me documentation of my membership regarding the credit card or supposed payments to them for use of the card.

Harrasement daily by Bank of America bank employees and FIA card services.

Denisa of Aliso Viejo, CA November 19, 2008

Denisa of Aliso Viejo CA (11/19/08)
My husband called Visa to ask for an extension on both of our Visa cards since he lost his jab and never been late, the representative said there's no extentsion and transfered him to a credit counseling service. He refused the service. A week later we received 2 letter stating that the accounts were both closed. We called and they said that they cannot be reopen even though we've never been late.

We told them that it will worsen our credit rating and also told them that we've never been late. They did not care. We said to them that we've had a relationship for several years and once we will be done paying these cards off we will not reopen the credit cards with them if they don't work with us on at least leaving the credit open so our Ficos don't drop, at that point the representative said Do what you gotta do Wow - there is no way we will ever do business with Visa again. I will do everything I can to make my complaint known because this is crazy... I have never been treated by a creditor this way and never ever even been late. WOW

Brad of Millersville, MO November 18, 2008

Brad of Millersville MO (11/18/08)
My credit went from 7.90% to 15.99% and out of the last 13 payments I paid over the amount due 12 times

I cannot catch up now now it is making me fall behind on other bills. There was a fine print that I did not read but I pay my bills I do not look at fine print when I am paying twice minumum payment thought to be in great standing

Susan of Clifton, NJ November 18, 2008

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