Bank of America Complaint - Abuse by the credit card companies AGAIN
Do NOT accept a credit card from Bank of America!!! I applied and received one for business travel. When I received the first statement, it was too late to make my payment on time (I missed it by one day & that was a because of a WEEKEND)! That created a $39 late charge and $2.28 interest. When I tried to get a customer service person to understand, they just blew me off and told me there was nothing they could do. So I didn't pay it and it accumulated late fees and interest charges to $313. Then they turned it over to a collection agency (after I had sent a letter for the past 4 months to the customer service address and the payment address)! When the collection company called, I explained and told them I would settle by paying the $41.28 from the very first late payment (despite my dissatisfaction with even that)! They told me the best they could do was settle for half ($155)!!!
How can they accumulate late fees and interest charges and then only settle for half??!! Due to the principle of it, I refused to settle and they reported it as a "write-off" to the credit agency and now other credit cards are cancelling my accounts because of the report! All of this because they sent the first statement too late for me to make a timely payment????!!!
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