Bank of America Complaint - Close Down Credit Cards
I have been a customer of BOA for years. Last night I received a letter in the mail informing me they are closing my credit card due to aN audit of my credit history with other institutions. I have a 700+ credit score and never missed a pmt. Closing accounts will hurt my score and make getting a mortgage harder and costly. I know this is being done with all customers of BOA who they think will default on payments. This practice will cost former customers a lot of money due to lowering of a credit score and forcing people to take a higher interest rate on a mortgage. I am not behind on any payments and just paid off one BOA CC for 4000+ dollars in a month! I feel cheated and used. I was going to refinance but now that my credit score will take a hit I will not be able to get the best rate. I also have 40% equity in my home but because BOA treats customers so poorly my personal situation did not matter.
I know the BBB will not be able to do much but I am spreading the word and my story to everyone and posting this all over the internet. Thanks for your time
Former BOA customer for life.
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