That's cause BofA sucks
@coldfusion wrote:If they ranked by valuation of assets managed I believe BoA would still be #1 in Massachusetts, although New England in general has been somewhat underbanked for years even with PNC and especially Chase establishing footholds in the metro Boston area the last few years.
I definitely think that's true, also. Everyone I know in the HNW category here banks with them, likely from all of the mergers over the years. We had none of the major banks when I loved here, then eventually got Bank of America picking up the remnants of numerous mergers and Citi in the '00s. Citi moved out, Chase moved in. Still no regular consumer presence by the other 2 majors, US Bank and Wells Fargo. I'm still with BoA for primary checking but that's a grandfathered account inherited from Fleet which was itself inheritied from BankBoston. (One of my credit cards also went through a few changes on its way to BoA; MBNA and FIA I think.)
@iced wrote:
BoA is a dumpster fire.
Literally the only reason I still have accounts with them is the 75% bonus on credit card rewards/cash back via the Preferred Rewards program due to my IRA being parked with Merrill, and the only reason I ever banked with them was because they underwrote my mortgage in 2007.
They ruined the reason I started banking with them by spinning off the servicing on my mortgage.
I sometimes question my current relationship with them because even factoring in all discounts for my PR tier, I got 2.5% lower interest on my HELOC elsware, 1.5% lower interest on my car loan, and get 4.6% APY on a HYSA elswhere vs. 0.04% at BoA...
