Consumer complaint received 2023-05-11
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: OR
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-issue: Application denied

Complaint:
This is the letter I sent to Bank of America 's corporate office. 

XX/XX/XXXX Corporate Secretary Bank of America Corporation Bank of America XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX TO WHOM THIS MAY CONCERN RE : My Relationship with Bank of America I have been a customer of Bank of America since XXXX. I have been in good standing for XXXX consecutive years! 

I am XXXX  years of age and had the misfortune of encountering financial difficulties with housing, transportation, and serious medical issues during XXXX. I was compelled to file XXXX XXXX of the Bankruptcy Act. Because of my long-standing relationship with BofA I did not permit BofA to suffer any loss at or since my filing. I filed in early XX/XX/XXXX. 

In an effort to rebuild my credit I accepted the recommendation of BofAs online solicitation and applied for a credit card. I live in XXXX XXXX Oregon more than 100 miles from XXXX XXXX  and drove to the bank to make application. This is the closest BofA office to me. It was denied. I then returned to XXXX BofA and one of the officers walked me through the process of applying for a secured credit card. I immediately made a {$1000.00} cash deposit for the security. ( See letter from BofA dated XX/XX/XXXX, enclosed ). 

I never received a card, nor any correspondence regarding the application other than the aforementioned letter. 

I once again returned to XXXX BofA ( a XXXX mile round-trip ) for the third time. I again met with an officer who stepped me through the filing of another application for a secured credit card and made a cash deposit of {$500.00}. It was rejected immediately. 

Much of my income is derived from Social Security benefits ( {$1800.00} ) and XXXX ( XXXX XXXXXXXX XXXX XXXX XXXX ) {$2800.00}. Both sources of income are deposited directly to my BofA account and have been since I retired in XXXX. I now have as my only debt a balance on my XXXX of {$42000.00}. In addition I own my home and have a XXXX mortgage. So I do not see how economic and loss trends would apply to my financial situation or be a risk to BofA. 

As for my relationship with BofA, I have never bounced a check during the XXXX years. I have used Bill Pay since its inception and have never missed a payment or been late making a payment to any creditor, including BofA when I made use of its lending programs including transfer of debt from other creditors. 

I am baffled by BofAs rejection of my applications for a secured credit card! 

Perhaps BofA is using AI ( artificial Intelligence ) or other algorithms and this is the reason for the rejections. 

I would appreciate hearing from someone regarding this problem. I have applied for and received a secured credit card with XXXX XXXX. But I would appreciate the opportunity of continuing my relationship with Bank of America. 

If there is a sound reason why I am being denied this opportunity to rebuild my credit profile with Bank of America, I regret then that I will have no choice but to terminate our relationship. 


Sincerely, XXXX XXXX XXXX XXXX : Letter from BofA referencing my deposit for a secured credit card. 

I applied for a credit card at BofA 's invitation. I was DENIED, UNDERSTANDABLY BECAUSE XXXX months agoin XX/XX/XXXX I filed BANKRUPTCY. I had a XXXX balance debt with BofA. In fact I had overpaid and left {$140.00} in so I had a debit balance., ( They sent it back to me in late XXXX. I applied fir a secxured card XXXX  and was told that BofA considered my relationship but they did not. When I spoke to the credit card dept I was informed that relationships are NOT xconsidsered but just the credit report. 

Here is the second letter : XX/XX/XXXXXXXX  Corporate Secretary Bank of America Corporation Bank of America XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX TO WHOM THIS MAY CONCERN RE : My Relationship with Bank of America I sent the enclosed letter to you on XX/XX/XXXX and did receive a phone call from a staff member in your credit card department ( XXXX ). His suggestion was to submit another application for a secured card which I did over the phone and it too was immediately rejected. 

The gentleman explained that acceptance or rejection was depending on my credit file and had nothing to do with my relatiponship with BofA. He explained that because I had filed for XXXX XXXX of the Bankruptcy act I was being decline for a secure credit card regardless of the amount I deposited. 

This is certainly not your grandfathers BofA! 

After closing my account I feel I have an obligation to use the internet to warn those considering establishing a relationship with BofA, to first consider how I am being treated. 

You should delete the paragraph in your rejection form letter that makes reference to BofA considered your relationship with us ... because your credit card employee said that is not true. 






XXXX XXXX XXXX Enclosure letter Dated XX/XX/XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation