Background: Approximately three years ago BOA bought out MBNA American and subsumed my account including all previous agreements and service commitments. This account laid dormant for 24 months and I activated this account approximately 8-12 months ago. BOA approved my request for a loan under the very same conditions as MBNA America contract. Approximately 60 days latter, BOA claimed that they were changing the contract agreement and arbitrarily reduced my credit line. When I challenged their decision, BOA refused to provide justification for their actions, only stating that their actions were sanction by the State of Delaware. As far as reducing the credit line, the only explanation I have received to date was that BOA received alleged adverse credit report. BOA has repeatedly refused to provide a copy of this alleged credit report. I have proactively contacted each of the National Credit Bureaus and all have denied providing BOA any adverse information. BOA claims are simply false and a scam!!! Here is how the scam works BOA consumers have successfully resisted and reported past BOA abuses to arbitrarily raise interest rates of its consumers. Now the new tactic is to reduce your line of credit arbitrarily and reporting it to the National Credit Bureau. Another effort is to conduct multiple Credit Bureau inquiries which is adversely reflected on the individual credit report by the National Credit Bureau. Folks need to understand that an excessive number of inquiries count against the credit score.in my case, BOA made 18 separate inquires over s 30 day period. It has taken 90 days to get theses inquiries eliminated from the credit report. Another issue, whatever past agreements were signed means nothing to BOA policy folks they simply dont care and if you dont like it then they will threaten you with a law suite. This Firm will not hesitate to take your money whatsoever. When it comes to honoring their agreements they are not to be trusted. My personal advice is to stay away from these people!!! Warning: if you will find yourself in the same boat as i am in after dealing with these crooks or require additional information feel free to e-mail me at.
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