Bank of America Credit Cards

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1.1 out of 5, based on 7 ratings and
242 reviews & complaints.

Credit Card Transfer
Posted by on
OHIO -- I haven't seen this complaint yet... so I figure I should warn others.


January 30, 2008 - I receive a letter (dated Jan 18) explaining that my 5/3 credit card is being transferred to Bank of America. I will receive my new cards the week of March 10, and my old account will be closed March 16. Not a pleasant surprise. I call 5/3 about the whole thing, they assure me I can opt out of the transfer if I send a written, signed opt out letter to FIA Card Services (Bank of America) by February 20.

February 8, 2008 - I read a news story about BoA raising rates randomly to excruciating levels. Now I REALLY don't want my credit card transferred to BoA. I immediately write 2 opt out letters - one from me, one from my husband. Both declaring our demand to opt out of the transfer to BoA, both asking for written correspondence acknowledging our opt out decision, both signed, etc. I send both letters, each in their own envelope, using USPS and Delivery Confirmation. It cost me a lot more money, but I felt it was worth it.

Feb 11, 2008 - I receive notice from the USPS website that both letters were delivered to FIA Card Services at 11:50 am.

March 6 or 7, 2008 - Having not heard anything from BoA, I call customer service (I had to ask 5/3 for a phone number as the letter I received did not include a number for BoA). I was told there was no record of such a transfer and that the computers only showed that there was a major credit card transfer happening in May. That I must be mistaken about the time of the switchover and that I obviously won't need to worry about any of it for another two months.

March 12, 2008 - Open my mail... guess what?!? I have two shiny new credit cards from BoA! I have to search to find an actual customer service number on the papers included - but the activation phone number is printed EVERYWHERE. I call customer service... I explain. I'm told I need to talk to someone in Sales. I get switched over to... the automated customer service line!!! I try again... same thing. I try yet again and I get hung up on. One more try and I am assured the representative will stay on the line to be sure I make it the sales department. She didn't stay on the line - and I was switched to.... you guessed it, the automated customer service line. I again call back. I explain everything that has happened. This time it's a little different:

Mary (so and so) tells me she will help me. I go through the whole story again. She puts me on hold. She comes back and tells me that they can't do anything. I make a fuss. She puts me on hold again. She comes back to tell me that she was told that I CANNOT opt out of a credit card transfer (from one bank to another). I ask to speak to a supervisor. She tells me that the information she gave me is from her supervisor. Eventually, her "supervisor" interrupts the call and talks to me. I explain everything yet again. He tells me that I opted out of rate changes - or something like that. I tell him I opted out of the transfer entirely by following the exact directions given to me by 5/3 Bank. He then claims that BoA bought out 5/3 Bank (not true at all). When that version doesn't work, he tells me that BoA bought my account from 5/3 and that's why I can't opt out. I calmly explained to him that the State Attorney General's office would be "all over their asses" by day's end. (well, I was close)

I call 5/3, they confirm that I do have the option to opt out of the transfer (mind you, I have 4 days until my 5/3 account is closed and I HAVE to use BoA). I call my state's Attorney General's office - they, too, confirm that I am fully within my rights to opt out of the transfer to BoA. But, they can't handle my problem. They tell me to call Comptroller of Currencies (OCC - and generously supplied me with a phone number. So, I call. OCC also confirms that I have every right to opt out. I'm told to mail a complaint form. But my deadline is in 2 days (barring Sat and Sun since they're not business days)! I'm told to download the forms instead - fill them out - scan them - and e-mail copies of the completed forms. THANK YOU OCC!! It's not every day someone helps you rush your complaints through.

After all of that, I call BoA again. I want to see if anything has progressed - or if they're ready to start fixing the problem. I call - they ask for the credit card account number. All of a sudden, they can find NO RECORD of the account number. They found it every single time I called earlier in the day. Hmm... interesting. They decide to switch me to Sales. Yes, again I was sent to the automated customer service line. This time I talk to someone. She asks for every fine detail about my life that I can remember. She can find no record of this credit card account and tells me to call back on the 16th (the day my account will be finally switched over). No way in HELL will I wait that long. I explain to her that I already spent 2 hours on the phone with various BoA representatives - and that I've filed a complaint with Comptroller of Currencies. Guess what?! She asks me to hold. Several minutes later she comes back to tell me that she's leaving a note for her supervisor to handle this situation immediately. Hmm... interesting. Is the big bad OCC scary to BoA?

So, I sit and wait and hope that I do not have to do business with BoA.

The moral of the story?


And remember to keep track of every detail of everything. Mail letters with AT LEAST delivery confirmation. Write letters on your computer so dates are verified. Don't let Bank of America do this to you.

And remember this site:
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User Replies:
tnchuck100 on 03/13/2008:
Do not activate those cards. If you do a contract is formed between you and BofA.

Hang on to your documentation showing you opted out. Including proof of delivery.
Immediately send BofA copies of your opt-out letters. Send these certified mail/return receipt requested also. Also advise BofA you do not recognize their account as per the opt-out.

Pay off the 5/3 card with proof of delivery also.
Kladnokrovno on 03/13/2008:
I can't afford to pay of the 5/3 card... otherwise it would not be carrying a balance already :) I am trying several avenues to fix this problem... and I will definitely take your advice. Thank you.
lobo65 on 03/13/2008:
This was a well-written, and legitimate complaint. Just one more reason why I'm glad I use credit cards from credit unions--not BOA. My interest rate on them is around 6%.
tour_de4ce on 03/19/2008:
The OCC actions regarding credit card company practices are pro-company, not pro-consumer. When asked recently what service received the most consumer complaints, the director guessed "cable companies." Wrong. Of course, it's credit card companies. The OCC is useless. Contacting your state AG was wise. Repeating a comment I made at another BOA site: You might want to email Senator Christopher Dodd (D Connecticut). On the Senate Banking Committee he's attempting to rectify the situation with a bill directed at abusive credit card company practices. Go to this URL: Click Constituent Services/Contact Senator Dodd/Express an Opinion. Apparently, you can contact him if even if you're not from Connecticut, and your email can be added to the stack.
Anonymous on 03/25/2008:
Kladnokrovno, good review and good infromation but most of all good luck with that.
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Royal Caribbean Rewards
Posted by on
I wrote a compliment on an RC cruise last week and am following that up with some notes about Bank of America's Royal Caribbean rewards program.
We got the card a couple years ago to build up some points for our next upcoming RC cruise. We had over 64k by the time we were ready to redeem them. I get nervous with these time of promos as there can easily be something that goes south and gives the customer a cheated feeling. Fortunately, after carefully following the redemption instructions, we started the cruise with the knowledge they did process everything as expected an we had our $600 onboard credit waiting. Since just about everything you buy, either onboard or destination excursions, is bought with your room key and pre-established account, the credit really was a bonifide benefit.

Things to know if you are building RC points with a BOA credit card:

Call and redeem you points about 2 months outside your depart date. They have to send you these coupons, which take about 4 weeks to get. Then you have to send those back to Royal Caribbean in time to process.

You can only redeem them in blocks of 5000 or more. I almost missed getting them credited in time because I was waiting to squeeze out as many as I could. Turns out I ended up still having to keep almost 4000, the balance left after turning in the others in 5k groups.

The rules state to redeem them before making final payment on your cruise, but that isn't always possible and the word is unofficially, that they merely prefer that.

Send the coupons to RC by certified mail to prove you did your part in case something isn't as it should be.

Overall, a pretty limited offer by BOA, compared to a straight cash back rewards program, but if you are doing an RC cruise anyway like we were, it turned out to be a nice bonus.
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User Replies:
Anonymous on 04/06/2011:
That sounds like a lot of hoops to jump through for redemption. I know I'd probably screw it up then be one of them cranks venting on a review how I got screwed because I couldn't follow the rules. I'm not very detail oriented.

Excellent review!
Slimjim on 04/06/2011:
Thanks Lordship, I agree. I thought it would be less of a process too. Pretty much why I wrote this so future web researchers may get a heads up earlier and not wait too late to claim them.
Anonymous on 04/06/2011:
Sounds like work. I wouldn't have the patience to go through all that, but on the other hand, $600 of onboard credit is a good incentive.
DebtorBasher on 04/06/2011:
*Dragging my packed luggage back up the stairs because SOMEONE didn't pick me up for the cruise*

Good tips Slim!
Slimjim on 04/07/2011:
LOL, I'm sorry DB, did I forget to swing by again? Can't explain how that keeps happening.
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BofA will close your credit cards if you apply for Obama HAMP modification!!!
Posted by on
DALLAS, TEXAS -- Because of reduced income from my former home (now a rental property because it didn't sell when my job transferred out-of-state), I proactively sought a mortgage modification on my primary residence. I am current on my mortgage, but knew I needed lower monthly mortgage payments. My credit score was ~780. I started a trial mod, in which you make reduced payments for 3 months. During that time your payments are held in a separate account, and the mortgage company reports you as 30, 60, and 90 days late on your regular mortgage payment. Even though you make the trial payments as instructed, the missing "normal" payment is considered "derogatory".

Here's where Bank of America gets involved: I have 3 credit cards with them, due to bank mergers. B of A conducted a "review" of all my accounts because the trial mod caused a derogatory item on my credit report. B of A closed 1 card account, and reduced my available credit on the other 2 cards to a few dollars over the outstanding balance.

In 15 minutes BofA damaged my FICO score in 3 ways:
--I went from using approximately 29% of my available BofA credit, to 99%.
--My total available credit (on my credit report) was reduced to 75% of what it used to be.
--The account they closed was a long-standing account, so the average "age" of my credit became lower.
All these things damage my FICO in a big way.

My credit score will now be in the "fair" category, so I won't be able to get new credit or a reasonable car loan. I can't repair my credit until I reduce my indebtedness by over half... But B of A told me they will continue to reduce my available credit as I reduce my balance, preventing me from remedying the situation. This will further reduce my FICO, and when they eventually close the other 2 cards, it will be a MASSIVE FICO drop.

My payment history is perfect with B of A, and I ALWAYS pay more than the minimum payment. 2 of the 3 cards I always paid in full. This is how Bank of America "rewards" its excellent customers. I can't close the 2 remaining accounts and get a different credit card without further damaging my credit.

And now this credit score is preventing me from changing the terms on my rental property's mortgage (even though I am current on it too, just like I am current on all my debt). My new low FICO score caused by Bank of America's impulse reaction to the trial mod program definitely paints a different picture of me... EVEN THOUGH I STILL HAVE NEVER PAID LATE NOR BEEN A NON-PAYER FOR 20 years.

If you speak with BofA credit department, DO NOT REVEAL if you are in process of getting a mortgage modified. They will automatically close all your zero-balance cards and remove your ability to use your cards that have balances.

Bank of America will cut you!!!
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User Replies:
*Brenda* on 12/19/2009:
You're a risk.
trp2hevn on 12/19/2009:
"Bank of America will cut you" I hear Bon Qui Qui has an account with them now.
Anonymous on 12/19/2009:
They're doing the same thing to almost everyone that has a credit line with them.
Anonymous on 12/19/2009:
You've been reported as 90 days late on a major financial obligation. To a bank, that's a sign of serious financial distress, and they're going to cut the potential loss any way they can. BOA just reports their actions to the credit bureau, and the bureau makes the score. Good luck with your fiancial issues.
victimofBankOfAmerica on 12/20/2009:
I am not a risk, I've actively pursued and maintained high credit scores for 20 years. The algorithms used by credit-card companies are incorrectly identifying some people as high-risk.

My mortgage lender is US Bank. US Bank did not agree to the HAMP guidelines so they did not partner with HAMP... therefore they are granting modifications on their own terms and can report applicants as derogatory even though the applicant never missed a payment.

Bank of America told me it is their company policy to cut anyone who applies for a modification. It's an across-the-board policy, and they DO NOT ALTER IT even for 20-yr customers who've never missed a card payment and are in full compliance with every loan/credit line on their credit report.
PepperElf on 12/20/2009:
sounds like boa has a policy that all customers are treated equally...
victimofBankOfAmerica on 12/21/2009:
No, if they were treating people equally, then I would be treated the same way as every other 20-year customer who like myself has never missed a card payment nor any loan payment.
voiceoff on 02/03/2010:
BOA credit managers are power hungry sadists.
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Good Customer Gets Cards Cancelled
Posted by on
WILMINGTON, DELAWARE -- I had two BofA credit cards although I'd forgotten I had two as I got divorced six years ago and only had one in my wallet. I heard somewhere that, if you didn't use your credit card, the bank would cancel it. I am 63,single, self-supporting, and self-employed. I've worked hard to build up my credit score. Approx. four months ago I used the credit card already in my wallet to make a large purchase at Lowe's so I wouldn't have the card canceled. I never got a bill. Right after 30 days was up, I called them and they told me I didn't owe them any money. I thought maybe I'd mistakenly used my USAA credit card. In Sept. I got a notice from credit watch that my credit rating had changed, from 730(good) to 680(fair). BofA had reported me delinquent on two payments on my credit card. I called them and they told me I didn't owe them any money. I asked them to run a search. She did and said she would fax me a letter saying that I don't owe them any money. That was approx.9/16. I didn't receive a fax so I called back. This time the person ran a search and found my bill. I paid it off over the phone. I asked to have the two late notices removed from my credit card and he said he couldn't but he was transferring me to customer satisfaction and they would. Instead I got a rude woman who determined that the address on that card was wrong which is why I didn't get a bill. That was when I figured out what happened: I had one credit card in my wallet, I moved, the other credit card not in my wallet managed to get to my new address. I thought it was a replacement for the card in my wallet which I'd already charged on so as not to lose my card (I hadn't used either card for anything in over two years. I cut up the card in my wallet not realizing there were different numbers and put the, what I thought, replacement card in my wallet so when I was calling they were looking up the wrong card number and I didn't know it but I did repeatedly ask them to search for any debt I might owe BofA and they said they did from the very first phone call. The rude woman corrected the address and after I paid it off, I closed the account. I asked her to reverse the bad credit ratings and she said she'd have to transfer me which she did to an even ruder man who told me it was my fault and they'd do nothing, even after I asked him and he acknowledged the number of times over months that I'd called. He said it was my problem not BofAs. He was rude, saying he wouldn't reverse anything. I hung up and called back and got a nice woman, explained the entire story, she immediately reversed the late payment complaints and then said she needed to ask me some questions. I agreed and answered her questions. Since my credit limit was $57,500 on the card I had left I figured she was going to reduce my limit. At no time did she give any reason for asking me questions. Then she put me on hold, came back, and said she was closing my account because I don't make enough to have a credit card with them. Nothing in my life has changed since they issued the two cards with high limits. I told her I make good money but am self employed so a lot of what I earn does go to overhead but I live where I work so it's not that bad. She said that was too bad. I then asked her if I could close the account and she said, "No," the she'd made the decision so it would be recorded that way. I said she knew that would ding my credit and she said she did know that but she wouldn't let me close the account, she was going to do it. I hung up in tears. I am the one who called them repeatedly to pay a bill they couldn't find. I am the one who had a card with a $57,500 limit and the other was also high, and I had no balance, except that one bill, on either card. I am the same responsible person they gave two high limit credit cards to less than six years ago. Now I have no cards with them which is good because I'll never do business with them but they have dinged my credit and been very unfair to me.
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Anonymous on 09/29/2009:
It was a comedy of errors for sure. However, YOU were the negligent one. Regardless of how it happened, YOU caused it. Sorry, but the rating will probably stand until you build it back up.
MzDLBrand on 09/29/2009:
LadyScot, I don't see how it's her fault. She knew she charged something and there was a bill out there, she wasn't attempting to avoid the charge which is why she called BofA in the first place. The agent she spoke with was not competent enough to run a complete search for her account and/or any debt she owed. Upon looking at the ding on her credit score, SHE took the responsibility again to call back since the first agent said there was no debt (even though she knew she charged something). Upon her second call she got a more competent agent that was able to find her debt and she paid her bill over the phone right then and there. I could go on.... how is it her fault again? I don't get it.
Fufu487 on 09/29/2009:
I have to agree, the Op did everything in her power to get the credit paid. She called many times to get her current balance, and she immediately noticed that she received no bill for the money owed. I'm usually siding with the banks, but this one is wrong :( I'm sorry BoA gave you such a hard time.
Anonymous on 09/29/2009:
MZ, Fui, I am not saying that the OP didn't try to pay. However, this is where the OP takes responsibility: "I had one credit card in my wallet, I moved, the other credit card not in my wallet managed to get to my new address. I thought it was a replacement for the card in my wallet which I'd already charged on so as not to lose my card (I hadn't used either card for anything in over two years. I cut up the card in my wallet not realizing there were different numbers and put the, what I thought, replacement card in my wallet so when I was calling they were looking up the wrong card number".

The OP had accounts at BOA. I have 3. When they pull my name they show my most current and largest credit card. I have to give the account number for the others. Because they are not tied to my checking account.
GS on 12/15/2013:
BoA is a bumbling buffoon of a financial institution, although I think their seemingly foolish but innocent mistakes are sometimes intentional and made to seem as inadvertent. I had recently ordered a chip-and-PIN version of my BoA MasterCard and after following up 4X I gave up. They said they had sent it and sent it again and then asked me to pay for expedited shipping (which supposedly would've ensured delivery?) but I refused. It seems they didn't want people with that particular card to have the chip-and-PIN version. I have a credit scores in the low 800s and high 790s so I don't get it. Soooo, 3 other financial institutions will be collecting the foreign transaction fees since they willingly issued me chip-and-PIN cards with no runaround. I'd love to cancel my 2 BoA cards but they are 2 of the older cards in my credit arsenal and I like my credit score, plus they do have good reward programs. (But I'd LOVE to tell them to take a hike...)
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Bank of America Trickery
Posted by on
I am so upset I can barely type. Today I received an opt-out notice from my Citi/Sears card raising my rate to over 25% or I have to opt out, so I decided to move the debt to a lower interest card. I have had for many, many years a Bank of America card with a $22,000 limit and I only owed $7,500. The interest rate was bad at 14.9 but better than the 25% with which I was suddenly faced at Sears. I have never been late on a payment for Bank of America and have a very good credit rating, so I went to the website to see what transfer options were available. The website (which deosn't list APRs anywhere reasonably available for the consumer to see) INVITED me to take advantage of my good credit and my available balance to transfer other cards and I could have applied online but decided in an abundance of caution to talk to a live person. After being on hold for half an hour, I finally got to a personable young man who assured me this would be no problem at all - he just needed to get "approval" from a supervisor. After another long hold I was greeted by a very aggressive young man with a demand for how much money I made last year, what my mortgage payments and office rent were, all my sources of income, how many employees I have and so forth. I am self employed, I was upset already about Sears having done what it did, and I didn't have any records or financial info in front of me late at night and out of the blue.
Finally, the man informed me that I had "too much" credit card debt and demanded to know what my PLAN was for paying it off. I was so taken by surprise that I stammered around and didn't make a very good answer and I was already upset. Without taking into account that I have over two hundred thousand equity in my home and a paid for $10,000 vehicle (part of the other low rate debt I have) this man not only denied the transfer (saying I "didn't need to incur any more debt" when I wasn't incurring any more, only seeking to MOVE it to a lower interest rate.)but he LOWERED MY CREDIT LIMIT BY $15,000 to only $200 over what I presently owe. So now, simply because I was upset and tried to accept Bank of America's INVITATION, I was punished by having my credit limit lowered which will look bad to other companies which will then also use it as an excuse to screw me over. In a few minutes, I went from having a nice credit score and an emergency resource to a decreased credit score and NO emergency resource (not even enough available credit to buy a ticket to a funeral) The guy punished me for ASKING for a credit transfer by lowering my limit (rest assured they'll find a way to raise the rate again, too)
amd it was posted on the Bank of America website before I had even hung up the phone. I would never have called about the transfer if Bank of America had not INVITED me to do so on its website. This is purely a trick and a scam to extract financial info from consumers to use as an excuse to benefit Bank of America. My advice is never never give them any financial info they can use against you and not to deal with them at all if there is any alternative. Being honest, faithful and timely gets you nothing but treachery from Bank of America.
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tnchuck100 on 08/21/2009:
There you have it folks. One more shining example of how Bank of America has become the scourge of the banking industry. How can any of you defend a bank that does this to people? But I know some of you will.

Karen, what Bank of America did to you stinks like yesterdays diapers! Close the accounts and find a credit union where they still appreciate their customers.
MaggieMcT on 08/21/2009:
There seems to be a widespread delusion out there, fostered by the credit card companies, that they are our friends. Well, folks, they're finally dropping the mask. They are not your friends, never have been, and we'll all be better off when we get out of debt. This just proves what Dave Ramsey is always reminding us, the borrower is slave to the lender.
MRM on 08/21/2009:
Man, I wish I will win the $207,000,000 jackpot 2nite so that I could pay off my credit card debt.
goduke on 08/21/2009:
Chuck, I'd really be surprised if anyone defends Citi in this practice. They are obviously taking all of the action now to avoid having to deal with the future regulations and, in the process, hammering their long time customers. I don't know anyone who thinks that this is a good long term strategy, but it's the strategy that they, along with BOA, Chase, etc., have decided to take in order to prop up their profitability.
Anonymous on 08/21/2009:

Two of the new credit card regulations went into effect yesterday.

Those are:
Customers must receive 45 days notice from the card issuer before altering account terms.

Bills must be mailed out 21 days before the payment due date.

The remaining regulations kick in Feb. 22, 2010.
Anonymous on 08/21/2009:
They would have done that to you eventually. Even if you hadn't asked to transfer any balances to them.
nstigator39 on 08/21/2009:
Bank of America is getting away with theft and our political leaders gave them the righ to do it by not putting the regulations on them right when they "said" they were doing something for the consumer. What they did was give the crooks like BofA the ammo and the time to rob its customers. I know they charged my Grandson outragous fees just because he was young and they could get away with it, I finally got him to change his account. They are doing the same to my daughter now. Write your political leaders and tell them how they "helped" these financial institutions and put the screws to the public.
Soaring Consumer on 08/21/2009:
I recommend filing a complaint with the Office of the Comptroller of the Currency. Since you were given an invitation, they are obligated to honor the offer given to you, and have no right to PUNISH you simply because you decided to accept THEIR offer. Absolutely outrageous, BOA is so far in the wrong.

Voted helpful.
goduke on 08/21/2009:
I thought most CC companies had rules that you couldn't transfer balances from their own cards.
tnchuck100 on 08/21/2009:
goduke, Citi/Sears is not the same as Bank of America. They are different cards.
goduke on 08/21/2009:
Sorry. I start reading lessons tomorrow.
JR in Orlando on 08/21/2009:
You have no "right" to a credit card. It is Bank of America that is lending "their" money to you. If they don't want to lend to you, they have no obligation to do so, regardless of your prior history, any more than you have an obligation to lend $1,000's to a friend.

Bank of America wanted current financial information. You either provided it incorrectly or failed to end the conversation till you had it available. Especially with the recent history involving liar loans, self-employed people need to be especially accurate about their income when dealing with the bank.

What relevance is the fact you have equity in your house or a paid up car? Are you going to sell them to pay your credit card bill? The bank, like any reasonable person, obviously thinks not. If you don't have a plan to pay off your credit cards, don't think the banks are going to just let you life by rolling over your credit card bill forever. The Bank did the right thing.
tnchuck100 on 08/21/2009:
JR, you missed the point of this review BIG TIME.
Hey, goduke, here he is!
BokiBean on 08/21/2009:
What a humiliating nightmare this woman went through..

BoA is just completely full of idiots if they don't realize that people have LONG memories for stuff like this.
madconsumer on 08/21/2009:
very very best answer jr in orlando!!!
205geni on 08/24/2009:
JR from Orlando must be a Bank of America employee who delights in lowering people's credit limits and screwing up their credit scores!
Anonymous on 08/24/2009:
Or maybe he just knows what he's talking about.
DrKoopz on 09/05/2009:
Just a question here:

What did Bank of America have to gain by cutting your credit limit and asking about your ability to repay the debt?

They protect themselves from 'risk'.

I understand you felt targeted and maybe even embarrassed, but Bank of America's credit card division is losing money due to an extraordinary amount of bad loans.

Is it so bad that the bank is putting policies in place that make sure their customers can repay the loans they give?

Everybody was angry when credit cards companies gave too much credit to people who couldn't repay it, now they're angry because they are proactively reducing credit to limit bad debts. Can't have it both ways.
madconsumer on 09/06/2009:
drkoopz, spot on!!
clinares on 09/12/2009:
I've had constant problems with BofA.

I call and complain and they return part of what they purloin.

I filed a complaint with the Better Business Bureau and The Office of the Comptroller of Currency. below are their web sites where you file a complaint electronically. I also found this organization and filed a complaint with my congressman.

everyone here should do the same.
Anonymous on 09/12/2009:
I've never had a problem with Bank of America. I plan to stick with them, despite the pleas from those who suggest I do otherwise - based on their personal situations.
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Where To File A Complaint Against Bank of America
Posted by on
Since my less than enjoyable experiences with Bank of America began, I have reviewed scores of complaints about their practices ranging from credit card interest rates to holds on deposits including cashiers checks. Today, after having to call them for the 7th time in 10 days to resolve an issue that is still not resolved I wondered myself "Who regulates Bank of America?" and "Who would a consumer complain to about their service (or lack thereof in this case)?". So I looked it up. This is the information I found for anyone interested:

First off, it is said that every bank has a regulatory agency for handling consumer complaints within itself - It's own complaint processing department in otherwords. I wasn't able to find a link of any kind for such a department within Bank of America. By reading other complaints from unhappy Bank of America users, I came to the conclusion no one else has either, although I did come across this site:

Four federal agencies conduct CRA examinations and enforce CRA regulations. They are the Office of the Comptroller of the Currency, Federal Reserve Board of Governors, Federal Deposit Insurance Corp. and Office of Thrift Supervision.

The Office of the Comptroller of the Currency examines nationally chartered banks. These are typically the country's largest banks, such as Bank of America and Wells Fargo. Their names are usually followed by "N. A." or "N. T. & S. A." to signify a national charter.

In contrast, both the Federal Reserve System and the Federal Deposit Insurance Corp. examine state-chartered banks; their names usually include the word "State." These lenders receive their articles of incorporation from a state banking agency, as opposed to nationally chartered lenders, which have federal articles of incorporation.

The Office of Thrift Supervision examines savings banks and loan associations. Thrifts often have the word "Federal" and the initials "FSB" or "FA" in their names.

You can follow this link for an index of questions and contact information:

This is the link to the Office of the Comptroller of Currency (which regulates national banks like Bank of America as stated above):


Hopefully this information will help people with grievances against their banks. Make your voice heard!!!!
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User Replies:
madconsumer on 12/09/2008:
huh, it would be better for all involved if you found a local credit union.

in all my years, I have never had any issues with bank of America.
Anonymous on 12/09/2008:
I have read four business/money articles that say they are under investigation for multiple things. Perhaps you won't have to make a complaint, eh? As for credit unions, yeah, I recommend them because you will never be subjected to this kind of BS when you join one. My friend believes Satan runs BoA. I laugh every time she says it. She's another happy customer (insert sarcasm here)
tnchuck100 on 12/10/2008:
Bank of America has two distinct categories of customers:
Group 1 - those they have screwed.
Group 2 - those they are going to screw.

Group 2 can actually be split into three sub-categories:
Group 2A - those who make honest mistakes.
Group 2B - those who don't understand what the bank is doing.
Group 2C - the naive (ie: "I've never had any problem....")
katie kaboom on 12/10/2008:
I can attest to the above post. I definitely fall into group 1. Within 6 months BOA took $6,000 in fees from myself and my fiance. They have ruined my credit too. And I had impeccable credit this time last year.
Anonymous on 12/10/2008:
Chuck, half the households in the United States bank in some fashion with BoA. Are they all scheduled to be screwed? They're not evil, they are just a really bank which is in business to be profitable for their stockholders. By the way, if you have a mutual fund, or a 401k, or a pension, you are almost certainly one of the stockholders.
tnchuck100 on 12/10/2008:
Ken, yes. Is is my opinion that BofA has all of their clients scheduled to be screwed. They keep repositioning the traps to get another group of suckers. I am not saying they are doing anything illegal. They have the regulatory agencies in their pocket to avoid that. The major point is that BofA does everything within their power to extract as much fee revenue from those who can least afford it by their unscrupulous tactics.

"In a business to be profile..." is OK. Until it is done on backs of the working class as blood money through tactics that must be classified as legalized theft.

I have no 401k or mutual fund. My pension is from a government entity.
Anonymous on 12/10/2008:
Well said, Chuck! But, compared to the thugs in Congress, BoA is a model of ethics and good deeds.
madconsumer on 12/10/2008:
so I guess I am the only 1 of millions of bank of America customers who "has never been screwed".

as far as expecting to be screwed, if you expect it, you will be.
Anonymous on 12/10/2008:
"as far as expecting to be screwed, if you expect it, you will be."

If you see it coming,you are smart enough to avoid it. It's the loyal customers that they are messing about, the ones naive enough to believe it will never, ever happen to them and that because they have been loyal and good, the bank adores them. Yeah right. that I didn't owe them.
nobofa on 12/10/2008:
at the moment they're not profitable for stockholders nor are their mutual fund investments making anything. my mother lost over 5000 just in the third quarter on an investment with banc of America (a branch of bank of America). their money markets pay around one and a half percent. I don't see them making anyone much money except themselves and their executives (ken lewis made 25 million last year in salary alone). stock analyst experts say they need to raise at least 15 billion just to have their stock level at 12 dollars. they've been downgraded to underweight. so come again? lol
williamsc38 on 12/24/2010:
Wow I am so glad I found this and I am not the only one complaining about Bank of America's BS. I opened 4 accounts with Bank of America back in 2007 and one of them is a secured credit card. Needless to say that I am down to two and soon will be none. The only reason why I have not closed the credit card account is because I was told it could in turn hurt my credit rating, the checking account I only keep open to pay my credit card and they just over drafted on that one for almost a $100 because they took of my overdraft protection and according to them don't know how that happen. I asked them to waive my fees and needless to say they didn't. Also this secured credit card I have with them. When I open the account back in 2007 with a deposit of a $1,000 I was told that after a year of keeping the account in good standing they would refund my deposit and the account would go into an unsecured status, yeah well am still waiting, they have been charging me interest on my own money since 2007. When I questioned them about it they said is because you cannot have any late payments within six months, then I called back again and they said no late payments within 12 months, the story changes every time I call. But I have only been late two times since 2007 which was back in November of 2009, well what happen to my account being in good standing from 2007 to 2009 and what happen to my account being in good standing for over a year now? I just called today and got the same story from them. The truth is they are makin more money if they leave my account as a secured credit card because they are making a profit on interest on money they never loaned out and plus they charge you for late payments if your late paying your own money back. They have the best of both worlds because it is not their money. Why would they change it when they can milk my money for as long as they want. I am glad we are all taking a stand and letting our voice be heard.
Y R Stout on 11/08/2011:
I paid my account in full -- some $1769.00 -- one check paid in full so I could rid myself of a company that decided they weren't making enough money off the backs of the working class. They wanted to charge me a $35 annual fee, I refused to pay it and cancelled my account -- regardless of how it will affect my credit rating. I wrote the check for the full amount owing and thought I was clear of this company. But no, today I got a new bill, with a new balance of $24 -- interest I was told accrued from the day they sent me the bill to the day I paid it in full. And while this company wrote off a similar balance over a year ago when I also paid it off in full. This time they refused too -- why? Because they have to get that last drop of blood from someone who has no more to give.
I will never do business with Bank of America again! EVER!
My wish is that the corporate CEO who gets my last $24 enjoys his bonus -- for there are none in hell!
Thank you for listening.
Bobby on 12/11/2011:
Bank of America Mortgage Servicing is a joke. They do not provide any loan modification help. They claim that they will assist and string you along for years with no help or assistance. They are in sensitive, and igorant about the programs featured prominently on their website. Do not deal with Barbara Doeser she is useless and Tiffany Monihan is another worthless unethical useless trashball that will never help you. Lots of lip service and NO ACTION
timothy rockford on 11/26/2012:
we have paid the 3 month trial period a couple of time we borrwed 12 00 from the welfare to and were still in the sam vote I am not happy with the bak of America at all
.Reginald Misquitta on 05/27/2013:
I have a credit card and an account with Bank Of America, In March /April 2013 they deducted the minimum charges without telling them to do so, thus
entailing high interest rates.
It was fortunate I discovered it in April and advised them to deduct the full amount from my bank ac.I have enough funds to cover the full amt.
George on 07/06/2013:
RE: I want to join or start a class action against BOA to get the absurd $59 "service fees
" refunded, with interest, they gouge me for
my two duh credit card acounts I have/had with them...

How do I join the existing class action or
start one here in SC and then go nationwide and globally against these crooks?
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Fraudulent deception
Posted by on
NEW YORK, NEW YORK -- Several months ago, I was a BofA customer - credit card, checking account, money market account, and even an IRA. As it happens, I ran into a month where I had all of my liquid assets tied up, and needed some cash to pay the security deposit on a new apartment. As my previous deposit would be returned the following month, I only needed the cash for less than 30 days and would pay off any loan during the next period.

I happened to be on the BofA site paying some bills when I noticed ads splashed across every page for "no interest on balance transfers and cash advances for six months", which sounded perfect for my problem. As a fraud specialist at one of the big four auditing firms, I made sure to read all the fine print very carefully, and noted that there was a $75 limit on the transaction fee, and, indeed, no interest for the first six months.

So, I went to the "Balance Transfer" section of the website, where I was quickly able to transfer cash from my credit card to my checking account. Once again, I read all of the fine print on each page very carefully, but all it stated was that there may be a fee for the transaction, and the interest rate might be different from my normal card rate - none of this was unexpected, so I went ahead with the transaction.

Well, lo and behold, on my next statement, there was a $300 transaction fee, and I had been charged 20% interest on both the advance and the fee.

After going months with repeated calls to their customer service line without getting a straight answer (and being accused on several occasions of not reading the warnings on the website), I was finally told that the offer was only available through the access checks I had gotten in the mail, or by phone... although there was no mention of this in any of the literature. Completing the transaction online was a special case and did not qualify as either a "Balance Transfer" or "Cash Advance", even though I was in the "Balance Transfer" section of the database, asking for a "Cash Advance". After being bounced from one representative to another, a "specialist" finally admitted that there had been a number of BofA customers who had had this same problem, but that the bank had decided their policy would be that they would not refund any of the money, despite their choice of words and lack of disclosure.

In continuing my discussion with the rep, I pointed out that UCC law clearly states that a court should find with the customer if they relied upon information from the business in the manner which a "reasonable person" would act. Based upon the language on the website, I fully acted in a reasonable manner, and told the rep as much; but the bank still refused to give any ground.

I still believe I have been defrauded by Bank of America, and if the amounts were greater I would be taking them to court, confident that I could win. However, as BofA is obviously aware, it's not worth my time to go through all that for the amount involved. So, instead, I have closed all of my accounts and have moved to another bank. This is one customer who had enough and got out.
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Please Read This Once Before You Apply for Bank of America Credit Card
Posted by on

that's the advice I have for all our friends who are looking for new credit cards. This credit card has given me more pains that any other credit cards I have. I have cancelled this card now and wish to share my experience with you so that you don't make the same mistake.

1. The Customer Service:

First the customer service is not at all accommodate. These people are rude ( especially if you talk of cancelling their service). I expected them to be nice at least when I was about to cancel my credit card but they never did.

2. Partners in the game:

Bank Of America has many other small units working under its banner like " PRIVACY SOURCE" AUTO ADVANTAGE" . And these agencies have all the rights to access your credit card without your permission. These two companies had charged $ 99.89 and $79.99, each for no apparent reasons. When I called my credit cards company (Bank of America), I was told that they don't handle these charges and I have to talk to these companies myself. I was given toll-free numbers to call these guys ( the customer service is only on the weekdays, when we have no time to call), somehow I managed to call these guys. First, they wouldn't be able to find my account, after a lot of hassle when they did, they give me some bogus records of my registration. And guess what, I was registered and I was charged but I didn't know my account numbers. I felt helpless and was being robbed. After I told them the situation that I am not a registered member and please refund my amount. They agreed to do so in the next statement and never did. I had to call them up again to go through the same hassle. Even this didn't work. At the third time when I was really angry these people managed to refund me partial amount $54.99 and $ 62.99. It took couple of calls more to get my money bank.

3. The Big Brother ( Bank of America)

I would not have had cancelled the credit card and written this review if that was the end of the things. Bank of America had charged me the APR on these amounts and wanted to refund me that amount of APR. But they did not agree. And I got so upset that I cancelled my credit card (05/26/2005).

4. Still not the end of the tunnel:

After cancellation I asked them how I am going to make the payments? they said you will receive your statement and will pay it as your have been doing. But too my surprise I did not receive the statement for June, which I have received around 7 th or 8 the June 2005. So I called them on 26 the June to see what happened, just to find that I was charged $39.00 late payment fee charged to my account. I requested them to cancel my late fees ( since I pay my bills regularly, and this time since I had a partial fault of not calling up the company to find out how much my payment is?) and will pay the full amount immediately. At this time they said that since the statement was in fact mailed to me and its not their fault so I HAVE to pay the late fee.

5. It will not be worse than this:

Even after my repeated requested they didn't agree. I tried to discuss this issue for the second time with another supervisor and she told me that I am not entitled to receive paper statement. Now this was entirely opposite of what was I told previously. This was definitely a serious incidence of consumer being deprived and misdirected for the companies benefits. So I told them that I will make a complaint with Better Business Bureau (BBB), the supervisor to whom I was talking threatened me to give a negative credit report if I don't make the payment.

As of today I have paid the full amount, and filed a complaint to BBB and writing this review.

But I am really really angry with kind of bully credit cards company, I feeling that middle-class consumer like me always get this crap and the credit card companies always escape.
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User Replies:
vixensnewgirl2005 on 08/22/2005:
Wow, good thing I read your review!! I had my application and check already in the envelope to send to bank of America for a credit card!!!
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StarEmpty StarEmpty StarEmpty StarEmpty Star
B of A Participated in Criminal Fraud against Me
Posted by on
Rating: 1/51
CHARLOTTE, NORTH CAROLINA -- Bank of America refused to reverse charges from Community Legal Center, a company that defrauded me. Basically, Bank of America is an accessory to the criminal fraud described below. In billing disputes, B of A sides with the merchant 99.9% of the time, even when they have a stack of consumer complaints against the merchant. They make it very, very easy for dishonest merchants to rip people off. I would not recommend B of A to my worst enemy.

This legal center is a total scam. They advertise a one hour consultation for $50 every Saturday on a drop in basis. Then they ask for your credit card to charge the $50 fee to and then start charging your card for additional charges BEFORE they even give you your consultation and without your authorization for these phony charges. If you ask your credit card company to reverse them, they will produce documents with your forged signature. If you show them ANY documents during the consultation, they will claim they copied them at a cost of $23.75 per page. The consultation is supposed to include a brief review of legal documents related to your legal issues. However, if the attorney asks even a single question on any legal document you are showing them, this becomes another fee over and above the consultation at a rate of $95 per one minute question. All their quotes and legal agreements are on a huge database and it takes them all of two minutes to pull up these pre-prepared forms and put your name into the quote or the agreement but this very brief service becomes a $200 fee. And if you, the customer, complete any legal forms on your own WITHOUT asking the center's employees ANY questions, the time YOU spend filling out the forms becomes billable time ,. Gee, I bet tax accountant wish they all could charge clients for preparing their own tax returns!!! These folks are charging $275 an hour for having the customer fill out their own forms with no assistance.
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User Replies:
Slimjim on 05/08/2013:
Honestly, this is more of a complaint against Community Legal Center. Bank of America can only do so much in a dispute, and if this Legal Center produced documentation confirming you agreed to the charges, then BOA would have no right to reverse it.
The forged signature thing is what I took notice of. BOA wouldn't be able to determine or make any call on the authenticity of the signature, so again, they would have to consider it yours. On the other hand, you have a real case against Community Legal Center, civil for sure and probably criminal. I would contact the North Carolina Attorney General and report the complaint and document forging.
trmn8r on 05/08/2013:
Your beef is with the company that fleeced you - Community Legal Center - in my opinion.

There is a procedure that is followed in disputing charges, and it sounds like "Community Legal Center" responded to BoA's request for documentation.

The question is how to proceed given that "Community Legal Center" committed fraud once, and perhaps in the original billing.

The first reply contains a suggestion how to pursue it. Good luck. It pains me greatly to defend BoA, but I don't see evidence they did anything wrong.
Soaring Consumer on 05/09/2013:
Forgery is a criminal act, I suggest filing a police report.
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Bank of America opened a credit card in my name without my consent
Posted by on
ESCONDIDO, CALIFORNIA -- My parents have been banking with bank of America for over 20 years so when I opened my bank account a month ago I had the utmost confidence in their services. When I recorded my debit card in the mail about 2 weeks late I also received a letter that stated that I had applied for a credit card that I had expressly stated I did not want taken out. I calle several times to try to figure out why the credit card had been taken out and was transferred around to several people who couldn't figure out why I was sent to them and told me there was nothing they could do for me but they could transfer me to someone who could. I ended up havin to go back to the branch and speaking to the manager who opened my account with where a claim was taken out with yet another person who claimed they could not help me but could transfer me to someone who could. After another 5 transfers I was sent to the fraud department who told me there was nothing they could do to help me and I should talk to the manager of the branch. I called her and he told me she would calle back in angry or less. And hour and a half later I called the branch 3 times and my phone call was my answered any of the three times so I looked up the number for corporate where I yet again was transferred around and eventually told that they did know who opened the credit card but that they could my tell me what actions would be taken against the employee who fraudulently took out a credit are in my name. When I tried to go in to close my account they refused to take the hold off of my check, so now the bank that could have screwed me will e making money off of my money for another three days. Not to mention the horrible customer service I encountered with almost every ASSociate I was transferred to. DO NOT BANK WITH BANK OF AMERICA.
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User Replies:
Venice09 on 04/25/2011:
What check? And why is there a hold? Why couldn't they just cancel the credit card?
trmn8r on 04/25/2011:
Although I had trouble understanding several parts of your complaint, I had a similar problem in being sent around and around at BoA in an attempt to get help. I vowed I would never again have an account at BoA, and I've been able to keep that promise so far.
spiderman2 on 04/26/2011:
That's terrible. I would contact the Department of Banking in your state and see if there is anything they can due to help you. BoA is a frustrating bank to deal with. I had a credit card with them and cancelled it after years of being with them because of the amount of phone calls they made to me to buy their credit card insurance. Totally annoying!!!
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