Here is a copy of my communication with the bank. You can see how unfair they are yourselves. Protect yourself and stay away.
Kenneth: What would you like to go over today?
You: ok on my credit card account I paid bank of america on oct. 8 and nov. 3
you: less then a month apart
you: 26 days apart
you: I want to make sure that this account is closed also and would like to close my checking account before bank of america starts to charge me erroneous fees there to
you: since the account is closed I also would like to make sure that you will not be charging me interest on my account which is closed
Kenneth: This credit card account is currently closed.
You: good
Kenneth: I'm sorry, your account will continue to be assessed interest on the balance until it has been paid.
You: you will be getting a check for $7.21
you: minus the $15
you: can you explain why I was charged a late fee??? When I paid you less than 30 days apart?
Kenneth: The late fee was issued because there was no payment made in the billing period for October.
You: I will be talking to my senator. The better business bureau about this if we can not handle this.
You: I paid you it says so on my statement
Kenneth: The closing date for that billing period was on October 10 and the due date was on October 30.
You: Why do I have to pay you in a 20 day period
Kenneth: There was no payment made in that time which resulted in a late fee.
You: that means bank of america does not except payments for 120 days out of the year
you: because if you pay during the 120 days you will be assesed a late fee for non payment
you: which is illegal
Kenneth: No, it means that your account needs to have a minimum payment made each billing period there is a balance on the account, which is in line with government regulations.
You: I just opened the satement and I paid you on 9/23 and 10/08 for a total of 11.64
you: 111.64
Kenneth: That's correct.
You: so I paid you duing the billing cycle
you: before the closing date
you: and I paid you after the closing date
Kenneth: Both of those payments were made during the September billing period.
You: no
Kenneth: The payment was made after the closing date and after the due date, which means that it was made late.
You: again the 20 day period
you: what did my last payment count towards
you: made today
Kenneth: The other payments were made before the closing date which means that they did not apply to that billing period as the billing period cannot have applied payments before it closes.
Kenneth: It was applied to your past due amount.
You: exactly so 120 days out of the year you don't count payments towards the bell
Kenneth: We apply all of your payments regardless when they are made to your account balance.
You: I only used 122.25 dollars that month and paid off 111.84
you: previously there was no balance so how could I receive a fee for paying you during my usage when no balance was on the account the previous month
you: I should have had a credit for september than
you: and that was not the case
Kenneth: If the payments are not made during a billing period then the account is considered late. If two payments are made during the same billing period the second payment applies to the principle balance, provided the first payment was enough to fulfill the minimum payment requirement..
You: ok I just opened my sept. Billing statement and it does not show this
you: no payments were made from the time you are saying
Kenneth: Your September billing statement has a zero minimum payment due for the month because the previous balance was a negative balance.
You: becasue I also paid you 9/10
you: 9/10 9/23 and 10/08
you: and I received a late payment on 10/31
Kenneth: Yes that's correct. All of those payments were processed before the October statement closed.
You: How do I close my checking account
you: so you can't charge me for anyreason
Kenneth: You can close your checking account with our Checking department at 1.800.432.1000.
Kenneth: Standby
Kenneth: Is there anything else I can help you with today?
You: I am sorry that you cannot see how you company is making money of people illegally and hopefully a lawsuit will come from this and the public will be better suited
Kenneth: I'm sorry you fell that way.
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