WARNING: To All 'Bank of America' Customers...

Something happened yesterday that I think most Bank of America customers would want to be made aware of...

A year ago I received a letter from BofA stating that they were raising the interest rate on my credit card from 15.99% to 29.99% I called the bank and asked them why - I had NEVER been late or missed a payment and my credit scores were very good.

They told me it was because I had used "too much" of my credit line (which was true - an emergency came up and I had used the card, not knowing it would cause a "problem") I asked what the options were and was told I could write a letter "rejecting" the new interest rate and as long as I didn't use the card - the rate would stay the same...

I wrote the letter and put the card aside and didn't use it for a year - and in the process brought the "available credit" up to $1,300... Up to this point everything was "fine" - I wasn't "happy" but figured it was one of those "live and learn" kind of things...

I currently need to get about $500 worth of maintainance done on my car - so I called BofA and asked them (since I hadn't used the card for a year) what would happen to the interest rate if were to use the card - the representative put me on hold and contacted the credit department - 5 minutes later he came back and told me I could go ahead and use the card and the interest rate wouldn't change...

I was going to get the work done on the car yesterday, but had some other things to do, so I decided to wait until today to get the work done... This morning I went on-line to check my balances and found that at the same time and WITHOUT SAYING ANYTHING TO ME they had DECREASED my credit limit by $900 which left my "available credit" at $400 - so if I HAD done the work on my car yesterday (which the representative KNEW I was planning on doing) it would have caused my account to go over the limit and of course BofA would have charged "over-limit" fees AND would have increased the interest rate...

I don't for a second believe it was a "coincidence" that my limit was reduced the same day I was told to use the card, in fact I believe they did it intentionally to CAUSE me to go over my limit without knowing it... Bank of America has been doing a number of unethical things to a large number of their customers and have been "raking in" money in the process...

They received Billions of dollars from the bailout this year and none of it was used to help their customers - the money was used to buy up small banks (whose customers are now stuck with BofA), make investments and give their CEO a 68 million dollar "retirement' gift (which is ironic, when he's the person who was in charge of the bank and made the decision to "screw over" millions of BofA account holders - causing them to pay penalty fees)

I have accounts with 6 different banks and NONE of them treat their customers the way BofA customers are treated - This is one bank that the account holders need to take a good look at and when the ecomomy returns to normal, remember how they were treated and think seriously about finding a bank that really DOES care about their customers...

When I called the bank this morning to "discuss" what they had done, the rep I talked to did say, "oh, I'm sorry about that - I guess the representative you talked to forgot to tell you about the credit limit changes yesterday..."

Thanks a lot Bank of America...

Actually there might even be a bright side to this: If the "employees" of Bank Of America end up losing their jobs - they might get the chance to move up in the world to more "respectable" jobs... dealing drugs, molesting children, etc...

(I could never work for a "company" that does the kinds of things BofA does to their customers - regardless of what they pay...)