I’ve had a credit card with Bank of America for well over three years. I’ve had my credit limit increased numerous time because I never paid late and never went over the limit. In January of 2009 B of A tried to raise my interest rate from 9.9% to 24.99%. I called them and told them that I had three different accounts with them and never paid late.
I was told by customer service that my balance was too high(they had raised my limit 6 months earlier). I was told to pay off some of my balance and that everything would be fine. In 6 months I paid off 1100 dollars and assumed they had told me the truth. After I paid the money they dropped my credit limit by 1100 dollars(big surprise). Now they tell me my balance is again too high(how does this work). I was told that they reviewed my credit history and that was why they dropped my limit. Well I checked my credit reports and my credit score had actually gone up and B of A had never pulled any of my reports, they lied to me once again.
I’m closing all of my accounts with them. Isn’t it nice how the tax payer bails them out and this is how good loyal customers are paid off. I will never do business with this company again.