Credit Cards

[LS2982]

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LadyRover wrote:

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LS2982 wrote:

All the negatives about BofA letely makes me want to steer clear of them when my credit file is ready for prime additions.

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I'm with you LS.  I have a personal checking and a business checking account with them and every time I sign in, a credit card app pops up for me.  But after reading all this, I have no desire to do any credit business with them.

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I'm sure the positives outweigh the negatives but it's just how these negatives are handled by them that makes me shake my head...

[Ron1]

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RockinRay wrote:

They closed $30,000 in lines for my wife and I this past Jan. Made us very angry... 

We still get the mail from them telling us we should be using our cards! Just got one this week. I can still log on to my account, and it shows $15k line.

I called them on this yesterday and was told my account was "suspended" and not closed. What ever that means!

Man... What a bank!

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Ray,

It doesn't matter if it they were suspended or closed. They didn't let you to use it. Tell them to close it. You're better off without them. It gives you nothing but headache.  You might want to join CU like I said.

Ron.

[ocboy949]

Got a preapproval from Discover in the mail yesterday. Approved for Discover More $1000CL. Yay for prime cards!  If only I can get a high enough limit to close out some of my other crappy cards...

[jjsten]

I know many, many people with BofA cc's and never had a problem.  You need to keep in mind that the few people who post issues probably aren't telling both sides to the story.  They may have had a foreclosure, late payments, new CO's, etc...  Let's also keep in mind that people at BofA have no idea about you.  Your a number in a computer system.  If something triggers the computer, well you probably deserve what you get.

I love this forum, but sometimes people over think some issues.  Let's face it, if your on this board, you probably have had or having credit issues.

[ocboy949]

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bichonmom wrote:

B of A has been closing a lot of accounts lately. It looks like they're cleaning house.

Their letter says that you've opened several accounts. How many new CCs have you gotten in the last 6 mos.? How many inq? They have obviously been softing you and saw something that was a red flag for them.

At least you have other CCs that you can garden and get CLIs on in the future. You should probably not app for any new credit, including CLIs, for a good 6 mos.

Yeah, if I were in your shoes, I'd probably be changing my banking. You might want to look at establishing a relationship with a local CU. Though, you may want to hold off on that as well, if they are going to HP to open the acct. All your other CCCs are keeping an eye out as well, so I wouldn't want a HP to trigger another AA from a CCC.

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 I can definitely ditch BAC for good. I have other banks that I'm very satisfied with (Wells Fargo, Ally Bank, Capital One, ING) so I don't  think I'll be joining a CU in the near future.  UNless maybe WF pulls some cr*p on me like this, but I doubt it. They're pretty chill...i hope..

[ocboy949]

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jjsten wrote:

I know many, many people with BofA cc's and never had a problem.  You need to keep in mind that the few people who post issues probably aren't telling both sides to the story.  They may have had a foreclosure, late payments, new CO's, etc...  Let's also keep in mind that people at BofA have no idea about you.  Your a number in a computer system.  If something triggers the computer, well you probably deserve what you get.

I love this forum, but sometimes people over think some issues.  Let's face it, if your on this board, you probably have had or having credit issues.

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Erm....never been late with them or any of my cards. Not one blemish on my CR either. No collections. Nothing but good accounts.

[RyVision]

When a bank (BoA) expects me to operate within a perfect criteria of Their rules, I expect they will operate just as, if not more perfectly.  When a bank is messed up enough to do things along the line of what's below in the links, I pretty much lose any respect for them.  For those that might say "BoA treats  you great if you know how to handle  your credit", you better look at the links below or hush yourself.

http://http://www.huffingtonpost.com/2011/06/08/massachusetts-homeowner-receives-foreclosure_n_87251...

http://http://theweek.com/article/index/200795/repossession-hell-6-extremely-wrongful-foreclosures

http://http://readersupportednews.org/off-site-news-section/81-81/6425-bank-errors-continue-to-cause...

[jjsten]

I don't what to say, move on.  What's the big deal, it was a secured card.

[ocboy949]

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ocboy949 wrote:

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bichonmom wrote:

B of A has been closing a lot of accounts lately. It looks like they're cleaning house.

Their letter says that you've opened several accounts. How many new CCs have you gotten in the last 6 mos.? How many inq? They have obviously been softing you and saw something that was a red flag for them.

At least you have other CCs that you can garden and get CLIs on in the future. You should probably not app for any new credit, including CLIs, for a good 6 mos.

Yeah, if I were in your shoes, I'd probably be changing my banking. You might want to look at establishing a relationship with a local CU. Though, you may want to hold off on that as well, if they are going to HP to open the acct. All your other CCCs are keeping an eye out as well, so I wouldn't want a HP to trigger another AA from a CCC.

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 I can definitely ditch BAC for good. I have other banks that I'm very satisfied with (Wells Fargo, Ally Bank, Capital One, ING) so I don't  think I'll be joining a CU in the near future.  UNless maybe WF pulls some cr*p on me like this, but I doubt it. They're pretty chill...i hope..

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The only thing that's making me reconsider is that I've had nothing but good experiences in-branch. They're always really nice to me!

[Ron1]

Most banks treat you nice (as a preferred customer) when you pay in full every month.  You turns into subprime when you carry balance over for over three months. It doesn't matter they are BofA, Chase, Wells Fargo. They are here for making profits.  You go to shop around some other banks or credit unions' credit card if you don't like. It's just business and not loyalty.  Your business means nothing to them.  They close your account today and they will get some more customer next day. 

Ron.