Re: I HATE BANK OF AMERICA
02-23-2012 11:07 PM
BofA seems to be aggressively closing down accounts lately. I'm not sure what metrics they're using to judge risk but even good customers like you are getting shafted. They suffered huge losses - $8.8 billion in one quarter alone last year - which triggered them to sell off a good chunk of their riskier long-term investments and foreign assets. After all the downsizing they are just beginning to post profits in Q1 of 2012. I think credit card accounts are next to get downsized, as evidenced by them selling off cards serviced but not issued by them this year. I'm in no way a financial expert, but these are just my thoughts on how they are dealing with their own financial troubles.
On a personal note, I found BofA customer service to be a bureaucratic nightmare when I had cards with them. Take it as a blessing in disguise that you can move on to bigger and better things!