FIA card services complaint

Date: Fri, 01/28/2011 - 13:10

Submitted by anonymous
on Fri, 01/28/2011 - 13:10

Posts: 202330 Credits: [Donate]

Total Replies: 2

FIA card services/ Bank of America - I made 10,000 dollars in payments (which includes our normal payment) this month on my card, and they dropped my credit line to just above my balance the next day, YES I AM SERIOUS, they dropped my credit line from $24,300.00 to $15,200.00, the NEXT DAY, the payment posted yesterday and today my credit line was decreased! we even contacted them about two month???s ago asking what will happen when we pay it off, we planned on paying it in full however the Credit account Manager at FIA (not the general person that answers the phone, we asked to be escalated to the credit department) told us not to pay it off in one month, to make at least three payments and our account should not be lowered. So, we figured we would split it into 3 payments over three month???s, and the day after the first large payment they did this, not only that but they put a hold on $4000.00 of it NOT to reflect on the account! How can that be legal?
No I don't want to hear the ???must be more to the story, because there was absolutely no reason for this! We have followed all the ???rules??? never got a home that equaled two years gross, never went over 40% debt to income ratio including our mortgage, not late on any payments, If they do this to customers as long as we have been and with our income level (180k yr), what are they doing to the people who can not pay off accounts?

GOOD BYE FIA! I have an auto loan with Bank of America as well, it is my last one, I don???t care how good their interest rate is next time, and our Mercedes Benz visa is now owned by Bank of America, see what happens with that one next!

you are nothing to them but a number. they are doing it to ever

you are nothing to them but a number. they are doing it to everybody. they keep us in line with FICO. my interest rates were raised from below ten to 29.9 just before the credit card 'protection' act went into effect. you are better off without the cards. go to a credit union.

lrhall41

Submitted by on Fri, 01/28/2011 - 14:51

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Well the worst part of the lowering of the line is that your FIC

Well the worst part of the lowering of the line is that your FICO score WILL suffer. Now that you are maxed out (according to what you owe vs. the limit.) That just sucks for you, but it is a sign of the times. With all the defaults, they are doing EVERYTHING that they can to keep you from defaulting. They monitor you and your credit report and will do what ever they see fit. Just crappy for your score. I say pay it off to about $1,000 left and see what they do. Obviously their advice was some sort of ploy. They wanted to get some more interest off of you but did not want to let you go to the old limit. By paying it off in entirety, that is no good for your score either. You are damned if you do and damned if you dont.

lrhall41

Submitted by on Tue, 02/08/2011 - 08:01

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