It’s evident the pendulum swung too far in terms of giving away too much credit, but now it seems to be swinging back in the opposite direction just as hard, with banks getting too tightfisted, even when it doesn’t make sense. For instance, the APR on James’s BoA credit card jumped from 9.32% to 13.99%, and shortly after he called to see about getting it back, they closed all three of his credit cards. One was a Gold account with a lifetime APR of 7.99%, the other had a 1.99% APR. Just last month, he received an offer to transfer $15,000 to the 1.99% card. Obviously at least one department in Bank of America thinks he’s a good credit risk. It appears some other expressionless faces of the massive dodecahedron that is the entity called Bank of America disagreed.
To get his cards reopened, James spoke with a rep and said he was perfectly capable of transferring his balances to another card with another company with a lower APR, but since he had been a customer since 1990, he wanted to work something out. She replied that “we are past that point” at Bank of America “wasn’t interested.” James then emailed Diane Morais, VP of National Customer Experience, but perhaps he should also try writing a letter to the CEO (it works!). Either that, or put his money where his mouth is and break up with BoA.
(Photo: Getty)
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@Me: Let me guess, you like to brag about your credit score on here too…
@ManPurse:
Maybe you’re right.Maybe I AM a stupid ,arrogant bastard.
Then again…Maybe you’re wrong. Maybe I have EARNED a good credit score by telling outfits like B of A to stick their “Fuck You” policies where the sun don’t shine. No, it ain’t braggin. Its a mathematical fact.
If standing up to these bully companies is arrogance-then hell yes, I’m arrogant and you know what ?
It feels great.
@Me: @Snarkysnake: OK OK OK…
Uncle. You guys win.
I was responding to your earlier post that seemed quite pointed at wrecxx. So I pointed a comment to you.
Obviously I was wrong to get personal. You go stick it up B of As ass all you want. I applaud you.
But I’m still not into what seems to be a common practice on this site – in which posters love to share their A++ credit scores. To me, it’s like talking about how big your weenie is. But, of course, that’s just my prerogative
BoA is crap.
I had a balance transfer offer where I was locked into a 1.99% APR for the life of the balance. Then one month, I noticed that the APR skyrocketed to 17.99%. I hadn’t missed any payments either, if that’s what you’re wondering.
So I called them and they told me that there was no such offer. BS. I still had my documentation. They denied it. So I told them to lower my APR or cancel my card. They chose the latter.
Two days later, I transferred my balance off of that card. BoA can go screw.
ManPyrse: I wouldn’t post mine. It’s none of your business. But you don’t have to jump on others who do — unless you’re just jealous.
@lauy:
I know this is a little late, but – When MBNA signed it’s agreement with Wachovia the contract included a non-completive clause, that basically stated should MBNA be purchased by a competitor of Wachovia that Wachovia would no longer be bound to the contract, and MBNA would be required to pay Wachovia a penalty (somewhere in the $100 Million range) so that Wachovia could restart their in-house credit card business. Today Wachovia does both consumer and commercial credit card services in house without the B of A shenanigans. I would have thought that other banks would have put similar clauses into their contracts with MBNA, but if that were true then I don’t know what would have been left for B of A to take over … the World Wildlife Visa? Perhaps others did not have the forethought that Wachovia did.
If the guy has $30k in balances, he probably SHOULD have his accounts closed. How in the hell do you keep a $30k balance? At some point, don’t you start figuring you should… maybe… stop spending money?
I don’t get it. This must be bizarro BofA. I have been w/ Bofa since 16 (I am 33 now) and have never had a single problem with them.
I guess I am lucky.
I agree with planetdaddy. Although I have only been with BofA since they took over MBNA, I have not had a problem either. On the contrary…they have been super with their 0% no fee BTs, direct deposits to my checking (which is not with them) and just very helpful whenever I call in. I have a BofA Platinum Rewards Visa and my FIA Rewards Visa (which was taken over with the MBNA merger) and both cards have given me great flexiblity with CL increases and low rates. However, I keep reading this forum to stay current with issues so I can steer clear if I ever encounter early signs of trouble.
I have a question for the wrekxx…you mean BofA is also servicing my Citi cards accounts as well?