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Kathy's Comment on
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Main thread--Bank of America Complaints
State: Louisiana Posted: 09/28/2009 Subject: Bank of America unethical practices Comment: I have a BofA credit card since since 2003 with a 7.99% interest rate. In July 09 my statement showed a 16.32% interest rate. I called the company and they said they sent me a letter in April 09 stating that if I wanted to keep my original interest rate I could not use the card for 6 months. Well, I never received the letter and since I was complaining in July it was too late to do anything about it. Adding insult to injury, in August 09, I received a letter from BofA the company reduced my credit line from $18,000 to $9,000. I called this month, Sept 09, to ask why I received this notice and was told since a customer service rep put in their computer that when I called in July I stated that I had financial difficulties and had referred me to a debt counseling agency. I explained that my call was in reference to the interest rate increase. B of A refused to reinstate my credit limit even though the error was there fault. This affects my credit score since my balance is my credit limit. The customer service rep re-ran my credit history (which is perfect) in an attempt to reinstate my $18,000 limit. She told me that they would not reinstate my limit even though I had never been late on a payment since the acct opened in 2003. She said B of A wanted to see more aggresive payments and since I had always paid timely and the amount due that was not good enough to change my limit. Something has to be done about this company. I see from the threads I am not alone. There are many people stuck with the unethical practices of this company. |
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