Bank of America started ripping me off on my credit card approximately one year ago. I was making payments via my online banking (another bank) every 4 weeks, like clockwork. However, apparently my payments eventually got ahead of the "statement" date since the statements are generated every 28 days. Two payments posted to my account on the same month. And every month, thereafter, BOA considered me "late" until I caught this.
By the time I caught up with this (was getting Ebills and no reason to log in a look since I wasn't using the card), BOA decided I was a "credit risk" and raised my interest rate to nearly 40% apr. Yes, you read that right: forty.
Suddenly, my minimum payments were a mortgage payment. However, I continued to pay them. I even decided to use their automatic payment system "bill pay". Again, I suddenly get a statement that shows I am past due, 2 months worth. I call, and find out that they've been applying my payment to a "corporate card" in my name which I have NO access to pay. But none the less, after many many calls, they transfered the money back. But the interest stayed as well as late fees.
Soon after, my payments were up to nearly $500 per month, minimum. I could not make these payments. I called customer service, held for ungodly times to be disconnected by the dept who could help me.
I sent emails via their online banking. I pleaded for someone to help me pay this down! I didn't want to default on this card.
Finally after several calls, being bounced around, I was transfered to the correct dept. I spent nearly 1/2 hour of my time to give all my financial stats. IT was determined by this gentleman that my payment would be $200/month. It would freeze my account (close it actually). But would lower the interest rate to make it possible to pay this off. He said it would take about a week to process. I had to give him my checking account info and agree to automatic withdrawals from my account. We agreed on the 15th of the month.
A few days later, as agreed to, BOA withdrew $200 from my account. I presumed all was well. Whew, what a relief to get this finalized...
A week later, I received a call from the BOA collection dept telling me that I was past due. They had received my $200 (thank you very much) but I still owed $700 in fees, etc. Be "caught up". I gave the agent the schpeal on the whole plan I set up, etc. He advised that it probably just hadn't made ti to their dept. No love lost afaic.
A week after that, another call. Same thing... I was told, "oh, sorry - we'll note this on the account".
Ok, so it's fixed now, right?
Today, I recieved yet another call. Now, I'm realizing that indeed there is a problem. After several calls to different depts, I was informed that there was no way to fix this problem internally. That "I" have to call the Customer Service Assistance team. But, of course, they aren't in due to the weekend and holidays, etc. This allegedly is the dept who set up my "payment plan".
I am so frustrated. I want to pay this card off. But they simply do not seem to want to let me. First it was because I paid "too soon". Now they just continually give me the runaround when I try to work something out with them.
They claim that none of the departments have access to each's systems and notes. So there is supposedly no way for a dept to check and see if I'm indeed "on a plan". Even though I am obviously on a plan since THEY are taking my money out of my checking account monthly.
My CC limit is $9900. And now thanks to their fees due to THEIR incompetence, I'm over 10k now.
This is just plain abuse of consumer credit. I'm sickened by it.
As a contrast, Discover called me when I went a bit over my limit to see if they could help. I spoke with one person, and viola, I was setup and got it paid down in a few months.
Any help would be greatly appreciated.
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