Bank of America closed my card account :(

[Datx]

Ugh, sorry to hear BOA closed on you. With the few recent threads on BOA closing accounts, im getting nervous on what they plan to do when my secured card gets to a year old in June.

[JustMe77]

I hate Bank of America. They closed my account in September 2008 after one missed payment. I know they are entitled to do that, and the credit market in '08 was a little crazy, but still.

I was trying to get some old statement copies because I am convinced they are inaccurately reporting info (and disputing it with the credit bureaus went nowhere). The customer service rep said that my account wasn't actually closed, it was 'in the process of closing' or 'blocked'. Okaaay. Then she invites me to apply to re-open the account. Figuring it was worth a shot, I let her do a HP. Then BOA tells me that they won't  re-open it because it's been closed for too long. Well, you knew exactly how long the account was closed before you invited me to apply to re-open it? I wasn't optimistic about the card being re-opened, but come on...

[Anonymous]

Sorry to hear about this. BofA was my first bank and issued my first credit cards. Although they never took AA against me, I always hated (and I mean HATED) dealing with their cold and massive bureaucratic customer service. I always got transferred half a dozen times only to wind up getting disconnected and the service was subpar to say the least, even in an emergency. With time you'll recover from this, just think of it as having to deal with one less problem in your life and give your business to someone else.

[westo12]

Problem is I NEVER had a problem with them before this.  I had NO complaints at all.  Started off as a secured card in 06/2008, graduated and gave me a higher limit in early 2010, upgraded me to a rewards card without me asking in late 2010.  Really had a great overall experience with them, until yesterday.

Just irks me, that's all.  I am seeing this as a positive, at least now I'll be forced to pay it off without adding any new debt to it. :/  

[Scene]

Seems like you turned into a high risk account and it seems like the AA was justified albeit somewhat rude.

[westo12]

What does AA stand for?  And it's interesting that I'm considered high risk when I've done nothing wrong in my handling of their account. :/  

I thought about opening a secured acct with Citi or Cap1 with a limit of $3k when I can and then doing a bal transfer from this BoA account to the new one.  The only concern I have would be the reduction in my AAOA and the possible ding I'd take on my score from this.  

Anyone have any thoughts on me doing this?  

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@Scene wrote:

Seems like you turned into a high risk account and it seems like the AA was justified albeit somewhat rude.

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[frogfan12]

Boo BOA. I can't stand them.

[Ron1]

AA= adverse action (CLD, account closure).  BofA and most creditors don't like high utilization. They're not happy even you pay on time every month. You're high risk because they're afraid you won't able to pay them one day.  They like you when you use your card like Everyday card. Then you're profitable.

Ron.

[westo12]

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@Ron1 wrote:

AA= adverse action (CLD, account closure).  BofA and most creditors don't like high utilization. They're not happy even you pay on time every month. You're high risk because they're afraid you won't able to pay them one day.  They like you when you use your card like Everyday card. Then you're profitable.

Ron.

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Gotcha, yeah I'm seeing that.  Big learning lesson here for me.. 

[lithium78]

This thread really concerns me, because BoA is a big part of my credit rebuilding plans.  They were the first bank to offer me a prime card last year and then they upgraded the rewards program six months in.  I've never been late on a payment, but I do have negatives from over six years ago.  I really hope they don't review me and close my card like the OP.  Jeez.