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Tuesday, March 22, 2011 - 3:03 PMBank of America - Details
I’m writing in response to a letter we received indicating that Bank of America has, AGAIN, reduced our credit limit.  The reasons they used: 

Balances to credit limits too high – We have been diligently working to pay down our credit cards and paying extra on accounts.  Bank of America continues to sabotage us by routinely lowering our credit limit.  This in turn starts a chain reaction.  When we first got our card, the limit was over $20,000.  It upsets me that Bank of America, creates a situation and then uses it against me in their justification to lower my limit. 

Payment on one or more of accounts too low – I made an extra payment on our line of credit in addition to the amount automatically withdrawn from my account.  I didn’t realize I would be penalized for this.   

I know I may regret writing, as Bank of America has shown in the past, it only punishes customers when they ask for assistance.  I have requested that a PERSON/SUPERVISOR review the account and re-instate our credit limit to the original balance.  The disregard they have for keeping me as a customer makes me want to take my business elsewhere, which I have done with a recent car loan.  We currently have nine accounts with Bank of America, you would think we would be treated like valued customers.  I have checked out other banks and the only reason we stay is because Bank of America does have the best on-line checking features. 

If there is another avenue for recourse, I would love to find it.

D. Wayne
rmswaynermswayne1 posts since
Mar 22, 2011
Rep Points: 3
1. Tuesday, March 22, 2011 - 6:31 PM
What constitutes the "best on-line checking features" with rates like these?  Simplicity of UI?  Speed of transaction postings?  Please elucidate.  Principles exercised in the face of (negative) treatment should dictate (re)action.  That's your recourse.
CraigPDCraigPD94 posts since
Jun 12, 2010
Rep Points: 336