So Bank of America Has Managed to be Worse
February 2nd, 2007 by digerati
I am not a fan of Bank of America for some time now. I opened accounts with them when I came to DC for school 4 years ago. They had the best deal at the time for students; mainly there were no fees on the accounts for 5 years.
Turned out that wasn’t true, there were fees whenever the bank decided to try to put them on the account. They were nice enough about removing them, but they have popped up a few times since.
My problem with them this week is that they claim I haven’t made payments on their credit cards. I got an email (AND a letter) saying the account wasn’t paid this month. Of course it has been, in fact the transfer was made on their site from another account at their bank. And I checked, and they did in fact take the money from my (non interest bearing) savings account and subtract it from the balance on the credit card account. AND, it all happened before the payment was due.
So are they not counting that somehow? I have to admit it’s tricky to figure out how to pay their cards down online. Most banks have a “pay your credit card bill” link of some sort. Not so at BoA. They apparently only want customers who can figure out that you have to do an inter-account transfer to do it.
Maybe there is a new way now since I keep getting emails saying my credit card site has been updated. I haven’t looked. Frankly, I’m closing up shop with them in May, a month before the 0% interest on the cards runs out. In the mean time I instead pay the balance of my bills to an account at HSBC, who greatfully pays be a decent amount of interest.
Share your bad Bank of America experiences below…
doc Hecky Says
Your right!
In 1987 BoA was the Bank my uncle used for decades in LA beside his Bank of Israel. He hooked me up in Pasadena. Great people, A service until the bad student loan wave made them greedily up to today.
Last week the mortgage crunch caused them to re-evaluate our credit even we are fixed. I wanted to secure our budget until the end of 2008 with an existing line of credit. When the bought MBNA they doubled our payments.
My wife explained 8 times that it is a safety cushion to keep cash flow and not intended to buy anything nor pay other credit cards off (we do not have).
We farm and I work for decades for a European company in the US. It is a seasonal income flow.
So the BoA lady got upset and in a personal vengeance from our view, downgraded all our BoA (former MBNA) lines of credit even we have an excellent credit report for years.
With the US government needs for funding, is it time to leave the US and go back to Europe? Was the citizenship just a joke to be a victim of capitalism?
Oct 15th, 2007 at 1:40 pm