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Bank of America is tough.....
I got a secured credit card with them and did not use it for a couple of months. I ignored the emails they sent me as the subject was "Credit Card Statement Available" or something along those lines. Since I hadn't made any charges, I didn't figure that I owed anything so I just deleted them..... WRONG!
They charged me the annual maintenance fee of $39 the month after I was granted the card. I had no idea they charged it and since I wasn't using my card I had no idea that I owed anything. By the time I found the charge, 30 days + had passed. I immediately paid it in full.
So I wrote them an email through their website (I have accounts with them) and explained the situation. I asked them to please remove the 30 day late entry on all credit bureaus. We wrote emails back and fourth and then I decided just to call them. No luck. The guy I spoke with said that by law he was required to report any 30 day late entries and could not remove them.
Then, I got an idea, I downloaded the credit card agreement and read it.
It DOES mention the $39 annual maintenace fee but it fails to mention when it will be charged. It doesn't say to expect it within a month or 6 weeks, etc. It just says that it's $39.
So I filed a complaint with the Consumer Financial Protection Bureau and I uploaded the entire credit card agreement and my credit card statments showing that I didn't charge anything for the first few months of getting my card. I also mentioned that I had spoken to the BOA people and they refused to remove the entry.
Let's see what happens. It's horrible because it's hitting my scores by about 30 points. I really hope the CFPB can help me get this taken off.
I will update when I hear something. I just figured I'd put my story "Out Here" incase this happens to someone else.
Thanks for sharing. I am no expert in regard to the CFPB, so I will leave it up to our experts to comment. It will be interesting to see how the CFPB responds though. Please let us know!
Sure will! Fingers crossed!
I'm no expert on the CFPB either, but I certainly hope they have bigger fish to fry than a perfectly legal & appropriate report of late payment caused by customer negligence.
Stingrey, you're new here and we are required by the forum TOS to be Friendly, Supportive, and Respectful. But by your own admission - "I ignored the emails they sent me as the subject was 'Credit Card Statement Available' . . . . I just deleted them" - you were just careless and negligent. Are you really so busy you can't afford a few minutes to check the statement on a newly issued card to see that everything is OK? Like checking to see that the CL was as promised, that there hasn't been any fraudulent activity? For future reference, any card with an AF (annual fee) almost always charge the fee in the first month, they're not going to let you use the card all year and wait until the last month to charge the fee..
In my humble opinion the report of late payment is perfectly legal and justified. All the best to you in the future, just consider being a little more attentive.
@DaveInAZ wrote:I'm no expert on the CFPB either, but I certainly hope they have bigger fish to fry than a perfectly legal & appropriate report of late payment caused by customer negligence.
Stingrey, you're new here and we are required by the forum TOS to be Friendly, Supportive, and Respectful. But by your own admission - "I ignored the emails they sent me as the subject was 'Credit Card Statement Available' . . . . I just deleted them" - you were just careless and negligent. Are you really so busy you can't afford a few minutes to check the statement on a newly issued card to see that everything is OK? Like checking to see that the CL was as promised, that there hasn't been any fraudulent activity? For future reference, any card with an AF (annual fee) almost always charge the fee in the first month, they're not going to let you use the card all year and wait until the last month to charge the fee..
In my humble opinion the report of late payment is perfectly legal and justified. All the best to you in the future, just consider being a little more attentive.
First listen op. in no way is this a personal attack or in any way . but according to your own admission. the t.c. clearly states from 1 month to 6 months. It does not say you have to have made a purchase period. and it appears that the late fee is valid. However. by escalating the situation. the CFPB will surely note everything you sent them. in this business it is not about crossing fingers. its about crossing the T's and Dotting the I's. i do hope for you to have a good outcome. and i would good will the hell out of BOA. as you did not use card. but you have not 1 legal leg to stand on. this is a cut and dry case. The CFPB is not a magic wand to make everything go our way. while you are waiting on the response. i would send a registered letter as well as email to the EO explaining. that you never used the card not even once and out of courteousy. would they be kind enough to remove the late fee. as the reason. is you are trying to clear credit not avoid. I do sympathize with your plight . it just does not look good to say the least. But maybe BOA will also show a little mercy. i hope so. good luck.
Dave:
There was no mention in the agreement of when the maintenance fee was going to be charged which I take issue with. I think any card company should inform their customer of the exact date that the maintenance fee is going to be charged when the card is applied for to avoid the possibility of people having the same problems as I had and subsequently being judged as negligent and careless. I think that's perfectly reasonable.
Taxi818,
Thanks for your reply.
No, the credit card agreement didn't mention anything at all about when exactly the annual maintenance fee was going to be charged. I wrote "a month or 6 weeks" just as an example of what they could have said which would have been reasonable because atleast that would have given a time-frame.
Certainly they are due the annual fee. I would never fight that nor avoid paying it and I did pay it in full immediately after I saw it. But wouldn't it be better all around if they were clear from the get-go as to when the customer should expect to see it charged? It was charged on the second month of my getting approved.
Every annual fee comes on the first bill. Its the same way with every card. I am not attacking, I just find it hard to believe that someone doesn't check there statements, knowing there is an annual fee on the card. Next time you just need to open every email and see whats going on. I doubt they will remove it, considering its a new account and it immedially wasnt paid. Not the best start. Id say just take the late and move on with it. Overtime, it will be fine.
@Anonymous wrote:There was no mention in the agreement of when the maintenance fee was going to be charged which I take issue with. I think any card company should inform their customer of the exact date that the maintenance fee is going to be charged when the card is applied for to avoid the possibility of people having the same problems as I had and subsequently being judged as negligent and careless. I think that's perfectly reasonable.
The same argument could be said for all other fees, such as balance transfer, foreign transaction, late payment, returned payment, and cash advance fees.
An annual fee would be charged annually.
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