Bank of America
Balance Transfer Denied and Credit Limit Lowered After Assurances

I have a Bank of America Checking Account, Visa Card, and American Express Card. I have been to my local branch several times in the last three months because I am self employed, and I think I need to incorporate, and open business checking, and credit accounts. They told me I have not had an established business for a long enough time to get a business credit card, or line of credit. However, my credit was good, and I could apply for another card, or just use the cards I have.

Last month I went in to inquire about a balance transfer into my checking account. After calling the credit department they told me I could do a cash advance at the same rate but I had more money available for a balance transfer. They also told me I could do the cash advance in the bank, and the money would go right into my account. I explained to them (once again) that I was in the process of building my business, and I needed the money to pay bills for the next couple months. I also told them that I would probably need more money in May, and that I expected to be bringing in enough income to start paying my cards down in June, or July. They told me it would not be a problem because I had plenty of money available for a balance transfer before I reached my limit. A couple weeks ago I called in to make a balance transfer, and they told me they had to update my info before making the transfer. After updating my info they told me I could not do a balance transfer, and they were going to lower my credit limit because I have high balances on my accounts. After waiting about five minutes to talk to a supervisor, I went to the branch thinking they could help. They made two more calls, did a terrible job of explaining the situation, and basically just handed me the phone.

As best I can tell no one at Bank of America cares that they are not doing what they said they would.

Company: Bank of America
Country: USA

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