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Bank of America Credit Cards

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SJ of Haleiwa, HI September 12, 2009

First of all, does Bank of America, stand for bend over again? Now really, I thought I was the only one out there, but after reading all these other comments, I realize I am just another victim of BOA's tactics. This is my story...In February 2008, Bank of America raised my credit limit from 15,000.00 to 19,000.00. Because I was " a valued customer with outstanding credit". In April 2009, I requested and received a cash advance of 5000.00,(for construction costs), knowing the funds were available. My May 2009 billing statement indicated that my credit limit had been reduced to 12,000.00, (which was the amount I already owed) and that my balance now exceeded my limit by 4700.00. I was not over my limit when I requested, and received the 5000.00 cash advance, as that was a part of the increase of my limit in February to 19,000.00!. The domino effect this creates is absurd !!!!

BOA lets FIA Card Services handle their accounts. This is the company that I feel is causing the most grief to customers. I have two accounts with BOA and for the month of February, I made a check phone payment of 300.00 and had it directly taken from my checking account. I was never asked for a check number, but was assured the money would come out of my account. I gave them the account and routing number and the payment amount. I have the confirmation number I was given, at the time of payment and it was not late. Then I received a letter, which I now know was from FIA, stating that they had charged the 300.00 to my credit card account, due to the 300.00 being denied by the bank, but NOT for Insufficient funds, it listed, account not located. I was on the mainland at the time for a family emegency, and was not home when FIA, called my fiancee.

First, BOA called her and told her they did not receive the payment, and since such a good customer, gets behind, they were concerned......My fiancee told them about the letter from them saying the payment was charged to the account, and the BOA representative, said it must be another credit card company since BOA does not charge payments to accounts. My fiancee read the letter to the BOA representative. Once I returned to Hawaii, I called the FIA number that had been left. At this point, I was trying my best to resolve the account. I spoke to a man one day, that identified himself as a supervisor...he was rude, demanding large payments to get things caught up....lecturing me on my inability to pay my bills on time.....I wrote a letter to BOA explaing all of this, in May, 2009. I never received any communication that the letter was ever received. In addition, I am still receiving letters, demanding large payments. I too was pressured into a "Special repayment program" whereby my payments are directly deducted from my checking account for four months,then continuing for sixty billing cycles. This is on the card that involved the 5000.00 cash advance.

I received no assistance in getting the high overlimit charges or interest chages,or late fees removed from this account. I have gone from excellent credit to having to agree to a "Special Re-payment" program from Bank of America's overpaid executives, and their predatory partners FIA Card Services, N.A. The effects of this one account, have devastated my credit. Once BOA reported this to the credit bureau, every credit card I had, raised interest and reduced my limits to the amount owed, making all cards, over limit, with high interest rates and over limit fees, and freezing of all accounts.

Where do we turn for the bailout, like they received? Where and when is it going to end. For me, I have made the decision to close all cards via a "Debt Settlement program", NOT from BOA. One last thing, seven hundred billion taxpayer dollars in real money was given to these companies, not credit. BOA asked for and received 45 Billion dollars in TARP monies. Who is asking Congress for me, to receive a bailout. If that 45 Billion given to BOA was distributed amongst all their customers, wouldn't that have saved the customers, and not BOA's Executives??? And isn't BOA supposed to repay the monies,,,,,,the money they are highjacking from all of US!. It is a scam and they are getting away with it. I close, as I began this...BOA....Bend Over Again.

Dot of North Canton, OH September 11, 2009

I had an MBNA credit card, which was taken over by Bank of America. When I lost my job, and was unable to make my payments, it became past due and was closed. This was my fault, and I take responsibility for it. I eventually received a large sum of money owed to me. I paid off my credit card in full in June 2008. I received a letter verifying this, and that the account was closed permanently, dated 18 June 2008.

BoA charged my closed account on 1 July 2008, and sent me an invoice. I called to complain, and was assured the illegal charge would be credited. They overcredited it instead, putting a balance of -9.32 on the account. They would not fix this. They then sent me a checks on 2 occasions for this amount, to which I was not entitled, and I returned them each time. They finally erased the 9.32 credit in August 2009, but charged me a 10 bank fee for the pleasure. They refunded this, but have left a credit of 12 cents on the account as of September 2009.

As long as BoA keeps this credit on my account, they are making reports to the credit bureaus. That negative entry would have cycled off my credit reports however many years it normally would have after June 2008. But BoA is negligently and fraudulently keeping that credit on my no longer existing account, and reporting this information to the credit bureaus each month since.

David of Oakland, CA September 9, 2009

Bank of America lowered my credit limit from 27500.00 to 22500.00 after I asked them to please lower my monthly the rate from 5.9% I asked them this because I was a good customer. Then they changed the terms of my contract a few months later actually raising the annual rate to 10.9%, I was unaware they had done this, until I received a letter, and several phone calls from them asking them when I was going to pay the 18.00 that was past due on my account.

Every month I payed more that the monthly payment that was due, however when they 'Bank of America' changed the terms of this account I failed to meet that payment even though I was completely unaware of the change in monthly payment, and the terms. I promptly called them, and asked them when they had changed their terms, found out how much the account was past due, and payed them immediately 18.01.

A few months later since my credit limit was lowered to with-in less than 500.00 of what was currently due I over limited the account when an auto payment from a vendor was charged to my account. I recently made a payment to the wrong credit card fortunatly this was still a Bank Of America account that I had already paid in full years ago, so I called there customer service, and explained to them what had happened, and asked them to remove the late payment charge as I had made the payment on time infact 9 days early, but to the wrong Bank Of America account. The lady in customer service said not a problem, I'll credit the account for you and remove the 39.00 late service fee.

I get my most recent bill the other day, and I notice they not only did not refund the 39.00 late payment fee, but they raised my annual percentage on my account to the maximum of 27.24%. I called their customer service, and explained to them what had happened as above, but the guy there said there is nothing they can do to fix the problem today.

Mike of Bel Air, MD September 9, 2009

I had two credit card accounts with Bank of America. One account resulted in a 4K+ credit because of a balance transfer to another card. The other account was a zero balance. I had to contact BOA to have them send me a check for the 4K+. After some time and other issues, they did. I asked them to close both accounts at that time. I deposited the check.

The next month, I checked online to ensure that the accounts were closed. I saw a charge in the same amount that the check was issued for, now shown as a charge to the other account. BOA admitted nothing initially. Then they faulted the rep that processed the check for using the wrong account. They then stated that they would remedy it. I again checked and the account still showed a balance.

I called and spoke to another rep from BOA. This time, they advised that I would be sent another check for the same amount, I should deposit that check, and send the payment to BOA to be applied to the account. After not receiving the check for approx. 2 weeks, I called back. BOA now stated that the check had been sent and was showing as cashed/processed. I informed them that I had not received a "2nd" check and that they should put a hold on funds or do something to investigate. They advised that they could not "see" the details of the transaction, only that the check showed as processed. They then informed me that they would send another check that I was to cash/deposit and then send the payment in. I again waited over a week and saw no check.

I then called when I received a check about 12 days later. BOA informed me that the check I had was the "2nd" check sent and that the third would now be cancelled. My account now had late fees and finance charged that had accrued since the BOA error. BOA advised that they would take care of the charged, but have not. They have said that I must send in the payment before they can erase these fees.

I have asked at least 5 reps to put me in contact with a supervisor. One has and that man, Tony, advised that he would flag the account in his name and contact me weekly to ensure that the account was resolved and that the fees were adjusted before I sent the funds. He also advised that he would send a letter detailing the error by BOA, all fees and late charges, etc. to be removed, and that any negative information be removed from my credit report. I have received no letter, no call from Tony or any other supervisor, or live person for that matter.

My emails have gone unanswered or answered so erroneously that they are impossible to comprehend (ex. I was told that two checks were issued and the amounts listed turned out to be the last four digits of my account numbers instead). I receive no less than 4 phone calls each day from BOA via an automated service beginning as early as 6am. I have called the number provided and followed the prompts. Each time I am connected with a representative who has offered no solution other than sending the balance due for the account.

I have never again been able to contact a supervisor as the reps will not forward the call; rather they put me on hold while they confer with them. They have also refused to give a letter (or email) or anything detailing the amount I owe minus the erroneous late fees and finance charges.

Nora of Batesland, SD September 9, 2009

I have a credit card with Bank of America but I am very frustrated now. I have not made any purchases but it feels like I cannot bring the balance down no matter how much money I send. I keep gettting hit with over the limit fees but when I call the automated customer service number, it gives me a current available credit balance.

I sent in a payment which was over the minimum that they wanted and it showed a posted date of 14. BUT, the statement came in and there was an over the limit fee again posted on the 17th. So I got charged 35.00 again. I registered my account on line and was looking for a place on their system where I could pay my balance on line but there was no such service available. And when you call the automated 800 number they only take out the minimum payment required and the system will not let you pay a little more down on your balance! In turn, they will bill your account 10.00 so in reality, you are only paying 5.00 to your account, in my case my minimum payment is 15.00.

I would like to warn people about obtaining this credit card and there should be more laws protecting this kind of predatory practice. Please read all of the prior warnings that are posted here and be very careful. My credit report is probably borderline bad because I cannot pay down the balance no matter what payment amount I send in because I keep getting hit with over the limit fees. The automated system will tell me that the balance is not in the red but my billing statement will tell a different story.

Kervin of Fullerton, CA September 7, 2009

I have been a customer of Bank of America since 1997. I have two credit cards with them. One for business expenses with a 13k limit, the other for personal use with a 6k limit. I have never carried a balance on any of my credit cards, paying them off every month. I asked for an increase in the limit on the 6k card since I was spending 2-3k/month and wanted to increase my credit score of 720, to get it over 750. Instead they reduced my limit to 600! A decrease of 90%! I have never paid late, have a very good score of 720 and have been reading that they are lowering credit limits on customers with good-excellent credit. This is especially troubling considering we bailed them out with 45B of our tax money just 6 months ago! I would like to switch banks but am unsure what to do in this difficult and bizare economic climate.

Tracy of Brick, NJ September 3, 2009

Bank of America is absolutely the worst credit card company I have ever dealt with. I transferred a balance with a 0% interest for one year. I received my first bill. That is when I saw the interest at 19.99%! I called and asked why didn't you tell me that is would be so high after the APR promotion is over, they said we wouldn't know thta. So, I asked can you lower it? They said, no but call back in six months, we will review it again. Okay, so I called in 8 months, realizing that I still had over 9000 left and only three months left. Not only did they not lower my interest rate, but they transferred me to some bleeping moron credit analyst who started asking me all kinds of questions about my salary, other income, monthly mortgage, debts. I asked him why are you asking me all of these questions, just to lower my interest rate? He said I am going to do a credit history on you. I said you mean my history with you? He said, no ALL of your credit and total debts. I said no one has ever done with me before. It's either yes or no, can you lower my rate or not? I have always paid my bill on time and always doubled the minimum, why are you looking throughout my credit history? Then he came back with this garbage about I have too much debt for my income. And that they didnt feel I would have an ability to pay them, so they are not only NOT going to lower my rate (which I didn't even care about at this point), but they were lowering my credit limit from 14,000, to exactly what I owed on the account.

I was livid. Then he recommended a debt consolidator and that I should suspend ALL of my credit cards and only keep one for emergencies. I WAS INSANE after this! I said, as calmly as I could...I am an adult and I can make my own decisions about my finances. I also told him he seemed to be getting a thrill out of this, too. I asked for a supervisor, he said one would call me back in 48 hours. There are I guess so many complaints, they are two days behind. It doesnt matter, the supervisor will agree with what he did. Something has to be done about this company. There needs to be a lawsuit aganst them doing this. If I am showing an ability to pay not only their debt, but all of my debt and am never late, how dare they make that assumption. Shouldn't they have to show cause before they lower my limit? Can these banks do whatever they want, because they can? I am now trying to find a way to refinance my house, pay them off and get rid of them forever!

Dana of Trenton, FL September 2, 2009

I have had a checking, savings account and 2 credit cards with Bank of America for approximately 8 years. On the 2 credit cards my credit limit was previously 10,000.00 on one and 17,500.00 on the other one. The balance on the 2 cards combined was about 7500.00. The interest rate up until this year was a 9.24% on both.

This year they raised the interest rate on both cards to 24.9%, not only that they cut my credit line down on both cards to exactly what I had charged on the cards, which maxed them both out leaving me no available credit. If you do not know this fact, if you are over half the limit on your credit card your credit score goes down. My credit score is a little over 700 and I have not checked it since the took place. I was lucky enough to have someone lend me the money to pay the cards off with a 6% interest rate. Not everyone is that lucky however.

I think what Bank of America did to me and i am sure many other folks in these economic hardships that our whole country is going through is not much less than criminal. I WILL NEVER EVER EVER DO ANY KIND OF BUSINESS WITH BANK OF AMERICA AGAIN. I HAVE CLOSED ALL ACCOUNTS WITH THEM AND IT GAVE ME GREAT PLEASURE DOING SO.

Aman of Dana Point, CA September 2, 2009

I have been a loyal customer of bank of america for close to 15 years. My credit score is 700+, I own 2 buiding, and 4 condos, all of which are not delinquet or even late, 2 of which I bought 10+ years ago so you can imagine the equity I have. I make over 150k per year. So that sets the stage. I call bank of america to see if I can lower my credit card APR as I was going to carry a balance for a few months, as I had some unusually high payments this month.

Rather than help me they asked me about if I was in finanicial stress or if something was happening in my life. I said I was going through a divorce but that wasnt the issue, I just wanted to see if they could lower my APR or I would have to do a balance transfer...note that the balance on the credit card was 10k, and I had about 4k in the bank, my credit limit was 30k, I have not been late I have paid my balance in full every month for the last many years.

so what do they do, they iform me that I cant reduce my APR. okay it was worth a shot. well then they tell me that they have reduced my credit limit from 30k to 11k, I asked why. I didnt care they reduced it to 30k but I needed to pay for my car that was being fixed and that cost was 1.7k. They didnt care. I said, its fine your reduced it but at least leave enough so I dont have to go home and get another credit card before I have to pick up my car.

The guy didnt care, I called back again to speak with a supervisor, an hour later they told me that they would not budge and they also cancelled another credit card I had, that quite honestly I didnt even know I had, that had a 0 balance on it for the last 10 years. I mean if Bank of America advertises being a local bank that will work with their customers, then why after 15 years of excellent history I was treated like someone who was broke.

I will take money out of my equity line and pay off this card. I will use up the miles from it and close this account. I will never nor will any member of my family do business with Bank of America again. I will post this in as many places as I can. I work in sales and often have expenses that I need to pay for, I get reimbursed by my company for these expenses. I used the BofA card for the miles.

Regina of Herndon, VA August 29, 2009

I am writing to complain about the practices of Bank of America. My husband had a stroke almost 4 years ago and during his recovery we accumulated some credit card debt. We were approached by Bank of America with the offer of a balance transfer for lower interest rate which we took. We both have good jobs and have not missed any payments. This July we did not received a bill and posted a late payments as soon as we realized we had missed the due date. Although we understand that we are ultimately responsible, we expected to pay a late fee and move on. Bank of America, however, had different intentions.

They raised our rate from 8.9% to 29.9% and last month we paid over 400.00 in interest fees alone. We received a letter from Bank of America letting us know that they would be offering us 3 options: Work with us to reduce our payment, Expand time of repayment, Debt consolidation. When we called them, they refused to lower our rate, and told us that the only option available was debt consolidation through their trusted debt consolidation agency. This would entail to close all our credit accounts, transfer our debt to their preferred debt consolidator and not be allowed to use any other credit.

In addition, Bank of America has reported us to Equifax making it impossible for us to transfer our debt to another account. Had we stayed at 8.9%, we would have continued to pay our account without any problems, however, Bank of America has put our family in a situation of great hardship. So far we are paying their required high interest monthly payment and yet they still won't consider anything else. We refuse the debt consolidation because we consider transferring our debt to a company we no longer trust absurd - Bank of America is behaving like a loan shark and seeking monopoly over our situation. We have other credit cards and do not have any problems with them.

This happened a week before the new law was passed to protect consumers against such predatory behavior. Interesting enough, second time we called they had changed their greeting to: "If you did not received a bill, you still responsible for paying it on time" - by that I assume that we are not the only ones that did not receive a bill in the month of July. I truly believe we fell victims of a scam.

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