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Brenda's Comment on
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Main thread--Bank of America Complaints
State: Illinois Posted: 11/01/2009 Subject: Balance Transfer Offers Comment: Just a word of caution regarding Balance Transfer offers. We just attempted to take advantage of one (they come in the mail from BOA constantly). I was told by the customer service agent that it was all taken care of, but one week later the transfer had still not shown up on the account I was attempting to transfer. Then, exactly one week after talking with the "Customer Service" agent we receive a letter saying that our credit limit had been reduced (dramatically). The letter was dated the exact day that I had requested the transfer. The amount of the transfer I had requested would have put us over that limit, so I again called "customer service" and expressed my concern and ask for an explanation. I was told that the transfer would not be honored and I was then bombarded with a series of questions regarding my household financial status. My first question was why had I not been notified that the transfer would not be honored. Reply...we called you. Response...I never received that phone call and there was no message on my voicemail. Reply...we didn't leave a message. Question...So how was I supposed to know? Reply...we've sent you a letter. Bottom line...the only letter I received was the one saying my credit limit was being lowered and it was dated on the very day I requested the transfer. The conversation never got better and before it was over, my credit limit had been lowered yet again...verbally! Why? Because we have only been making the minimum payment and that throws up a "red flag" on top of which, you've requested this balance transfer and that throws up another "red flag". My question... if the minimum payments were a red flag, why was the balance transfer offer made in the first place? Response...well that's our customer service department...it's the bankers who make the financial decisions. And that was supposed to satisfy me. WOW! What is it going to take to bring this situation back into balance? We are offered credit. We use credit. We make payments on time. We are responsible consumers and this is the humiliation we are subjected to. Something has got to change. And I, for one, am feeling pretty vulnerable and relatively defenseless. It's so terribly demeaning. |
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