@taxi818 wrote:
@Repairman wrote:Bank of America sucks. They are the worst when it comes to customer service and working with their customers. I NEVER burned them, NEVER was late on a single payment and had a card with them for close to 2 decades and I paid the balance off in full and what did they do? They reduced my cl from $5000 to $700, and tacked on a $49 Annual Fee, where there never was previously one. They say they did it because they saw Ihad been late with AMEX. They refuse to remove the AF or raise the cl. Their only option to me is "apply for another one of our cards." WHAT??? The funniest part of this whole ordeal is that AMEX, who they claim their basing their punishment of me on, is currently providing me with 2 cards, each with vastly more credit lines than BOA is. Despite it being my oldest card, I'm so dumping them before that AF hits again. Good riddance!!!
I certainly can understand your frustation repairman. But this for sure is very common in the credit world. They don't base these things solely off of you not being late with them. But with any creditor you have. regardless how long the relationship was. you certainly should be upset. but im not sure closing your oldest tl will help. It for sure will not punish a big bank like Boa. but more than likely in time will hurt your scores. but if you have tl that old probably not. Ive seen that time and time again. Someone say late on a car payment. and the credit cards take action against them. they are afraid they are next. I would simply contact Eo and explain my situation and history with boa and try to get limit restored. which seems like you did. or i would leave it at 700. not use and pay the AF. and leave them alone. Mostly this is the result from going beyond 30 days late. and i for sure don't know how late you were. But its a horrible situation in any case. This also gives me reservations on dealing with Boa. Sorry it happened to you.
Yes, it is very common...moreso with some creditors than others, as evidenced tha Bank of America was my only creditor to take such action. I'm not tryiing to punish BOA, by closing the card, it just no longer makes sense for me to have. Why continue to pay a $49 AF (an AF that I never had up until recently) on a card with a $700 cl, that I will never use again, with a company who's customer service I find to be sub par? Sure it's my oldest tl, but it will still report for another 10 yrs after closing, and by then, all my other tl's will be 10 years older. I've contacted the EO and they aren't willing to do anything. Not only did they NOT help, they hurt me by doing an unauthorized hardpull, just weeks after they had done another one. I disputed that and they agreed to remove it, claiming it would be done within 60 days. That was March, and it still has not been removed. Just contacted them again, and they are blaming Transunion and claim they have no idea why they didn't remove it and they are investigating and contacting them again.
My bggest gripe with BOA is not even really the action they took, but the fact that other creditors, including said creditor they based their decision on, have shown great consumer interest in helping me alomng and forgiving my past mistakes, yet BOA who I have never had any issues with refuses to. Even my lowest limit store card (opened a few short months ago) is giving me a $6000cl. And BOA gives me what? An AF and $700. It's not only their original actions, but their continued actions which are leading me to happily say, good riddance.
Hmmm that is a weird change of events. Sorry to hear.. Not a good day for BofA/Disover. Next month is around the corner