Bank Of America Credit Cards
So called "default" account and late charges — beware b of a stinks! Nationwide

Keep in mind as you read about my "issues" w / B of A that I am a fellow banker — hence my OUTRAGE with these two recent incidents with my B of A credit card.

FIRST ISSUE, I received my statement with the due date of the 14th. I went on line and made the payment and the payment date is set for the actual due date. I didn't change the date, received my confirmation and didn't think twice about the payment that I made. UNTIL...

The next month's statement came in the mail w / a $35 late charge (the payment that was due was only $15 in the first place). I knew that I made the payment timely and went online to check out what I could have done wrong.

Just so happens that I glanced at the calendar the saw the 14th of that month, the due date on the bill, the date that their online system selected as the payment date, was actually a SATURDAY. Therefore, my payment wasn't able to post until the next business day — the following Monday.

I contacted them immediately and received a refund but it got me wondering, how many other unsuspecting cardholders have unknowingly paid this charge because they thought THEY did something wrong?!?!

SECOND ISSUE, I have a substantial credit line on my card w / B of A and carry a minimal balance on the card. Two times w/i a 6 month period, I was late w / my payments — once 2 days (I simply just forgot to make the payment) and the other was < a week (I was on vacation and didn't make the payment prior to me leaving). My bad -- I paid the late charges and started paying attention. Fast forward to the next month's statement...

My statement comes w / a notice that since I was late 2 times in 6 months, my account was considered in 'DEFAULT' and that I would be assessed a interest rate of 33%. WTH?!?!

My two late payments couldn't even be reported to the credit agencies that how insignificant they were. B of A did not reduce, remove or change my available credit on the card. You'd think if I was such a credit risk to them with my DEFAULTED account, that would be the first course of action.

I found it totally insulting that B of A would consider me worthy of such a high credit limit but then lump me into a category of the dead beats that truly are in default and don't make payments AT ALL!

Company: Bank Of America Credit Cards
Country: USA
State: Nationwide
Site: www.bankofamerica.com

  <     >