Bank Of America
Late Fees Charged on Payment Made Before Deadline and Credit Dispute Failed

I have had perfect credit for a good many years. I am very careful to keep track of my charges each month to make sure I will be able to pay the bill in full. All of my bills are paid in full and on time every month. I have never incurred a late charge. The BOA has never made any money on me other than whatever they make on vendor fees. Therefore, they decided to take advantage of my July payment due & paid on 7/29/08 at 1:53pm. When the late charges showed up on my August statement; I contested the charges, sent them a copy of my confirmation printout and pointed out that their statement says that payments are credited as of the date received if the payment is received by 5pm.

Eastern time. They finally credited me for the original late charges on the Oct. Statement but, by then, they had added late charges for Sept. & Oct. And continued to add them through the Dec. Statement. I spoke to a Jeethender Raj, Customer Satisfaction Dept. Who advised me that the late charges can't be credited because the system doesn't work that way. The only way to remove them is to pay them and then they will show up as a credit. Duh, no kidding! As a retired accountant, I know that we always could reverse an erroneous charge just as they did with the original charges. I don't know anyone who would be dumb enough to buy that story.

I contacted Equifax on Apr. 25. I received the response that We have researched the credit account #xxxxxx. The results are: The balance of this item has been updated. Nothing has changed. I contacted them again & received the same response. Obviously, Equifax & BOA are in bed together. Don't I have a right to see BOA's response? I'm sure they have been provided with mine. So, the end result is that, according to them, it is legal for me to pay late charges on the late charges that I never owed in the first place!

I have not received a statement from BOA since the Dec. Statement. Now, since I contacted Equifax; I received a May statement yesterday for late fees for payment due 05/02.

After reading all the horror stories about BOA, I am extremely happy that I never had an account with them & I tell all my friends about what they are doing to the rest of you. You all should just transfer your funds elsewhere. It won't be a bank anymore without any customers.

Company: Bank Of America
Country: USA
State: Delaware
City: Wilmington
Address: PO Box 15019

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