Last spring we obtained a bofa card with a $5000 credit line. We used this card to go on vacation, and for misc. Purchases. We have other cards and none of them have ever been late, nor have any payments on this card. We paid more than minimum every month, but didn't pay down the 0% interest balance in favor of paying larger amounts on the cards that were charging interest.
Our bofa card started charging interest this month, so this month we made a substantial payment on the account, and were reward by
bofa reducing our credit line by the amount of payment. They could give no reason other than we were subject to a credit review by their committee - no more explanation than that. My spouse is a disabled veteran, and we pay all our bills on time. I think this speaks quite loudly of just how little any of us mean to this conglomerate. I can't wait to pay off the card, and close this account.
MBNA as it is known in UK, do not take a credit card out with this company, i had one for many years but following a complaint from me, the complaint was handled poorly, they do not admit when they are clearly in the wrong and referred me to credit reference agencies. The tone of customer service staff was apalling, they refused to accept any liability, so i closed the account. Beware, if in uk look elsewhere for credit cards, not mbna if you want a good service.
The government loves Bank of America. So obviously, this review doesn't change anything but i think i should write it anyways. I was charged a late fee on my credit card account even though i scheduled an automatic payment online using the banking system. I have always done this, years and years, but this time, even though i scheduled it two days before it was due, it did not go through. I called the credit card number and although the service representative was very nice and helpful, she did not waive the fee as a courtesy.
You do not receive an email confirmation of the scheduled payment so the bank does not have a record and neither do i. My history however, shows that i have never been late on a payment (the representative told me this) but of course, a company that cheats and lies millions of people in the country, can't provide a courtesy removal of the fee. I ended up making the payment, but will no longer use my card as they do not deserve the interest i pay them. I kept my account on zero balance for 3-4 years and only recently began using it. Big mistake.