I have been a customer of Bank of America for 4 years, always paying more than the minimum; and always on time. My last payment was received by them 3 days late; and they made a negative report on my credit report; and increased the interest rate.
I had fraud committed against my card recently, and they said cancelling this card to issue another one was the reason I had a negative report from them?! They put me in touch with customer service to try to reduce the interest rate back to a promotional offer they sent me some months ago; and I found out then that I never received the promo rate to begin with. The representative I talked to checked my credit report and then told me I couldn't qualify for a lower rate as I had too much debt already - that I hadn't been "aggressive" enough in my payments on my credit cards; and that I didn't make enough money on my job. I only owe them $683.00 on this card; and I told this rep that a higher interest rate made it difficult to be aggressive on my payments! He then informed me that they had reduced my credit limit from $18,000 to $8,000.
I did not appreciate a lecture from this man regarding my credit, which I monitor through American Express; and which shows my credit as being "excellent", so I told him he could reduce my limit to zero and cancel the card right now. I called a supervisor to complain about the treatment I received by their rep, and she told me she would take it up with the rep who talked to me - nothing else was offered to me. She was not helpful at all; and didn't have much to say regarding my complaint.
I will never deal with Bank of America again - no wonder they're doing so badly; and have so many bad reports about their practices online. Avoid this company at all costs - or be prepared to be ripped off; and have your credit ruined.
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