I hate BoA

[egold1234]

Meanwhile, by closing credit lines of small businesses like myself, they are putting small businesses in jeopardy. If the economy gets bad again, or we have a bad month and there's an unexpected expense that might cause businesses to default on their current obligations. It doesn't make any sense to me.

[Uborrow-Upay]

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@egold1234 wrote:
Don't call them to replace a stolen card, dont call them to activate a card. Just dont call them period. Don't do what they consider "risky" transaction. The anaylyst I spoke to seemed to keep mentioning my charges at 7-11 and a liquor store. I guess people who work late and like to treat co-workers to some coffe and bring home a bottle of wine are "riskier"?

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Seems to me that they are confusing credit risk with health/life insurance risk.  Maybe the banks are tying these things together these days on a larger scale.  Credit rating has usually affected insurance premiums, maybe now insurance actuarial tables are affecting credit. 

Bar owners/workers (among others) are considered high risk in the health/life insurance industry, and pay higher rates (if they can get the insurance in the first place).  If you're a ticket-taker in a movie theatre, you're in that same group, too.  It's because of the late night hours and the personal contact with lots of members of the general public.

[Anonymous]

So after the new laws passed on 2/22, did people's monthly due dates on their BOA cards change much at all?  Or did they tend to stay near the dates where they were before?

[Itsmeagain]

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@Anonymous wrote:

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Those of us who still do business with the evil doers (I've always wanted to use that phrase!) of the financial world haven't necessarily completely ignored the experiences of others. I greatly value, well over and above the marketing & advertising that extolls the virtues of the banks, consumer trends & feedback on their experiences. I personally don't care one iota about BoA's (or any other bank for that matter) bottom line. I care about *mine*. So, I have to balance the overall tide of consumer experiences with the experience(s) that I've had with them to date. I listen, I'm aware, and I make a concerted effort to leverage the cumulative consumer knowledge about the bank. When and if the time comes that they do something that makes doing business with them intolerable for *me*, I'll do what I've done for the likes of Cap1-- I'll quit them. I'll take my business to a financial evil doer who has a more favorable rating on the banking evil-ometer.

For me, and I've yet to see an exception for anyone else reported, there are groups of people who hate every one of the financial evil-doers that I've partnered with. Every single one that I've heard of too. Heck, I even read of people hating NFCU, claiming that they're as bad as the big banks. People hate Alliant. People hate USAA. There seems to be two type of Amex people; 1) People who love them, and would pretty much leave their significant others and marry them, if marrying such an institution was allowed, and 2) the group of people headed up the Southeast side of Amex Hill with the torches, pitchforks, and poisonous darts.

My point is that I'd be lenderless if I didn't take into account my personal experience, and wait for 'if and until' the evil lender to burn me! As long as they're doing my bidding, I might as well keep them. And, if they decide to slash my credit line, or close my account tomorrow, it won't have hurt me a bit. My financial portfolio is (now) diverse, and as drama proof as you can get these days. A CLD won't hurt. A closure won't hurt. A ratejack won't hurt. They can take back their toys, but I can also take back mine (which happen to be more numerous than theirs in our relationship).

But, if it makes anyone who hates BoA feel better, I'll now confess to something. So irritated have I been by their treament of their customer base at large, that I've been looking for a reason-- heck, even a small reason will do, to kick'em to the curb, after they've caused me some type of personal irritation. I've called them about everything under the sun. I keep asking to product change. I even once called to *only* discuss the things that I've read about them mistreating their customers, and to express my concern that they'd one day decide to treat me that way. I'm also ashamed to admit that I'm waiting for a good reason to tunnel out of the credit garden-- I need a valid reason to app for a USAA credit card, and the only way I can justify it, is to loose a significantly large enough credit line. So far, my inept attempts to draw the ire of BoA have been for naught. They just don't seem to care to 'get' me... yet! No CLDs, no ratejacks, no AFs, they're even polite and downright personable when I call to torment them. Go figure!

Message Edited by LilMirth on 03-06-2010 06:09 PM

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+ 1

This describes me to a tee except that I could never have thought up "banking evil-ometer" . . . . . . 

Is that scale 1 - 10, 1 - 100 or something like 350 - 850???

[Anonymous]

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@Anonymous wrote:

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@egold1234 wrote:
I paid off my credit cards, and called the backdoor # to speak to a credit anaylyst to ensure they wouldnt close my cards. After alot of discussion I actually had a CLI of $600 and was assured my lines would remain open. Well guess what. They closed one of my cards, the one they just gave a CLI to!

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I'm wondering if it was the act of calling them, rather than paying in full, that actually triggered the credit card being closed.  What do you folks think?

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I would guess based on my experience, PIF triggered it but you were probably already marked because of the debt duration, they were just waiting. Since a about 2 years ago, each time I PIF'd after 6+ months of carrying a bal only paying small or minimum payments (regardless of UTL or bal amount), resulted in BOA action, 50% CLD or similar days after PIF of BoA cc. Then I need to go through the financial review each time to get my CL back. I just expect it from them now, annoying. Had nothing to do with my credit score or CR. It also happened after their financial review. I conclude it was a different dept or automated computer action. BoA reps say the computer flags a warning and someone acts on it, but even so if they do, I don't think they look at the CR, just the warning flag, might as well be computer automated since they have done it to me like clockwork on PIF. I even told a rep in a few days I will have my CL chopped. They said no no, it won't happen. A week later, CHOP. Yet another FR to get my CL back. For this reason I avoid balances longer than 5 months with BoA, and to prevent them from closing my card, leave a bal on the BoA card until all my other cards are PIF. So when they do their review after large bal paid, they don't see other debt. In general I stopped using my BoA card because of the repeated CLDs and FRs relating to PIF on my personal account. I don't think they are doing this just for me. It might be what happened to you?

[Anonymous]

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@armywifey85 wrote:
No disrespect but after all the storie's about ..... I can't understand why anyone would still do business with those kind of bank's.

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Sometimes it's harder on scores long term to close accounts than to leave alone and if I close my cards my UTL and No.of.bal would be thrown off with a heavy impact on my score. I personally use the bankcards that are good to me, and sockdrawer the ones that aren't. Banks are terrified of loosing money now, it's understandable. But some are better to us than others and I reflect my spending in favor of the nicer ones. I also swing my new apps to the nicer ones. The banks you spoke of above used to be among the most generous too.

Message Edited by ilovepizza on 03-10-2010 07:15 PM

[egold1234]

Your probably right, it was probably from the PIF. And after the FR, they said since "BoA was my highest line" they didn't want to raise it back. So, I'm being penalized for using only BoA credit cards, loans, and deposit accounts? Screw you! I guess BoA would prefer I bank somewhere else and open a line of credit somewhere else as well

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@egold1234 wrote:
I paid off my credit cards, and called the backdoor # to speak to a credit anaylyst to ensure they wouldnt close my cards. After alot of discussion I actually had a CLI of $600 and was assured my lines would remain open. Well guess what. They closed one of my cards, the one they just gave a CLI to!

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I'm wondering if it was the act of calling them, rather than paying in full, that actually triggered the credit card being closed.  What do you folks think?

---

I would guess based on my experience, PIF triggered it but you were probably already marked because of the debt duration, they were just waiting. Since a about 2 years ago, each time I PIF'd after 6+ months of carrying a bal only paying small or minimum payments (regardless of UTL or bal amount), resulted in BOA action, 50% CLD or similar days after PIF of BoA cc. Then I need to go through the financial review each time to get my CL back. I just expect it from them now, annoying. Had nothing to do with my credit score or CR. It also happened after their financial review. I conclude it was a different dept or automated computer action. BoA reps say the computer flags a warning and someone acts on it, but even so if they do, I don't think they look at the CR, just the warning flag, might as well be computer automated since they have done it to me like clockwork on PIF. I even told a rep in a few days I will have my CL chopped. They said no no, it won't happen. A week later, CHOP. Yet another FR to get my CL back. For this reason I avoid balances longer than 5 months with BoA, and to prevent them from closing my card, leave a bal on the BoA card until all my other cards are PIF. So when they do their review after large bal paid, they don't see other debt. In general I stopped using my BoA card because of the repeated CLDs and FRs relating to PIF on my personal account. I don't think they are doing this just for me. It might be what happened to you?

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what is the BOA FR process like? What does it consist of? Thanks

[egold1234]

Just a bunch of questions, income, job, what you do, how you plan on using credit lines, etc.

[Anonymous]

Everyone hates Bank of America. Even the founder's granddaughter Virginia Hammerness said that the bank is currently run by idiots.