OT rant: bank of America

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Good perception.
Christopher A. Young Learn more about Jesus www.lds.org .

No, but then I haven't dealt with BA for about 10 years now. I thought they were crooked LONG before the melt down proved it.
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I used to be a BoA customer but came to the conclusion that they absolutely despise their customers.
Find a local credit union that will appreciate your business.
On 4/25/2012 7:36 PM, Stormin Mormon wrote:

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Motion seconded and passed.
--
Dan Espen

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On 4/25/2012 7:36 PM, Stormin Mormon wrote:

I've had credit accounts reduced when I never carried a balance. For example I had a $25 000 line of credit that was there for emergency. I rarely used it and when i did i always paid it off fully, sometimes within a week, usually before the end of month.
They cut it down to $5000 because I was never using it therefore they were never charging me interest. When I politely asked the bank to re instate the line they refused, so they lost my homeowners insurance policy business ( about $900 a year), my chequing account business (About $4 a month) and my RRSP (like an American 401k) contributions for the next 30 years (about .5% management fees per year and I invest 10% of my pay). I was 33 years old at the time.
Fast forward 3 years. Nowadays I have a 6 month old baby with her own bank account and educational investments, I have a second car loan, and I have life insurance on myself and my baby. The bank lost all this potential business. Greedy. Greedy Greedy. All they had to do was re-instate my line of credit to a measly $25 000 and they would have been making easy money, thousands per year, for the next 30 years. This big picture thinking was lost on the branch management.
Now I deal with 4 separate banks for all these things, and it costs me a little less, a bit more of a nuisance, but still saving me some fees.
If I were you Stormin, make sure your credit rating is good (just in case that's the reason they lowered your credit limit) then vote with your feet. Just go elsewhere to get what you want. They are NOT loyal to you so why be loyal to them.
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On Wed, 25 Apr 2012 19:36:25 -0400, "Stormin Mormon"

Be prepared for other card issuers to follow. It's like dominoes. Each event is a ding on your credit score.
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I've heard that closing credit cards is a ding -- regardless of why, the other companies think some thing is wrong.
Christopher A. Young Learn more about Jesus www.lds.org .
Be prepared for other card issuers to follow. It's like dominoes. Each event is a ding on your credit score.
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On Apr 26, 3:35am, "Stormin Mormon"

I can vouch for that! We had a company discontinue one of our cards FOR LACK OF USE! We did as any fiscally responsible person does, that is use one card and keep it paid off monthly. But one never knows what will happen so we kept that one [one of several] just kept for 'emergency' use.
The negative factor of EXPOSURE to maxing out the card was far less of a ding on our score than having the company cancel, even though they clearly stated the reason, and I was told by the rating companies that the ding would have been the same even *IF* we had originated the cancelling!
One other item. During the economic downturn when banks were supposedly trying to liquidate their real estate holdings. We found the opposite true. It was impossible to wrestle real estate out of a bank's hands! Although the banks decried holding all this 'useless' real estate and touted how they have to sell it at greatly distressed prices; in reality they were dragging their feet at every turn!! Experience based upon attempting to buy 6 houses. Specific example, the offer to buy house with cash 30 days escrow took over six months! That bank did NOT want to part with that property! And worst of all you can NEVER find the responsible party at any bank! Everybody is pointing to another! Once, when I got close, being in the right group of people, I was confronted with "How did you get my name, this number?" Not, a response of "How tenacious of you, of course we want to sell you this property." Their response was get out of my face, don't bother me/us again.
The phrase "talking out of both sides of their mouth" comes to mind, along with an images of weasels.
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On Apr 25, 6:36pm, "Stormin Mormon"

Did you go into the bank and complain to the branch manager? If he's an assh---, you can raise you voice several dB and start talking about how you were a loyal customer and now they're screwing you and do it so a lot of folks hear you! May not help, but it will sure make you feel good.
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On Wed, 25 Apr 2012 19:36:25 -0400, "Stormin Mormon"

There are two separate issues here.
First, the credit line. Most bank started cutting back credit a couple of years ago. They want to reduce exposure. Cuts of 50% to 75% were common.
Second issue is BofA. They bought out my old bank years ago. They really did not want my account nor do they want any account with less than six figures. Fees were the highest around, checks took a long time to clear, etc.
Find another bank, another credit card, etc. Get away from them and find a nice small local bank and hope they stay that way.
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About 4 or 5 years ago I had one or two bank accts with BA and when I decided to close them, all of a sudden they came up with bogus fees to close them. I don't remember what I said but I complained and they agreed to take them off. I remember the branch mgr saying to me, she expected I'd come back but so far I haven't and don't see it happening in the near future neither. So far I'm pleased with my current banks but you have to watch all of them as they will try to nickle and dime you to death if you let them. Sometimes if you've been banking with them for years or carry a big balance, they bend a bit but not always.
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wrote:

Big balance = a lot of money in your acct.
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On Thu, 26 Apr 2012 09:01:47 -0400, "Stormin Mormon"

I once had a nice small bank but they kept getting bought out by bigger banks each time to the tune of maybe 3 or 4 times so far. Where I live, I doubt the small guy can survive any more among the other giants around but it would be interesting to see.
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On Apr 25, 7:36pm, "Stormin Mormon"

Surprisingly, while I've had issues with some large companies (I'm looking at you, Verizon) but I've really had no issues w/ BoA other than them jacking up my CC rates from what were admittedly astonishingly low a few years ago.
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