Consumer complaint received 2023-04-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MT
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
I attempted to submit a complaint on this subject on XX/XX/XXXX but for whatever reason it was not received. I received a invitation for a reapproved XXXX XXXX XXXX XXXX credit card through Bank of America early this year. I applied and was approved with a XXXX FICO score and over a decade of credit through their bank with no missed payments or delinquencies. Just after a month of opening the account, for whatever reason Bank of America closed my account without any contact. I had had one other account with them for an XXXX  XXXX XXXX and when I opened the account they pulled some of the credit from that {$7600.00} line to open the XXXX XXXX XXXX account. After speaking to the representative I had expressed that I wished to consolidate my credit and the rewards were more appealing to earn miles through XXXX XXXX and XXXX mileage program and I was curious about closing out the XXXX account. The representative I spoke with advised me that It would be more beneficial to ask to transfer my remaining credit from the XXXX account over to the new account instead of closing the account and that a credit line transfer wouldn't have a negative impact on my credit. After the credit line was transferred my XXXX XXXX card was closed without warning with no missed payments or balance owed and I was within {$100.00} or earning 50,000 sky miles by spending {$2000.00} dollars within 90 days of opening the account. When I asked about the account closure they were not able to really provide any specific information on the reason. I then received a letter saying it was due to irregular purchases and based on the credit score of XXXX which is the credit score they were provided when I applied for the account and was opened. I owed no balance and have had an outstanding line of credit since XXXX or XXXX with no missed payments through Bank of America. There is virtually no way I would ever miss a payment and was excited to earn rewards through their program. The only thing through my credit history that would result in flags would be during the year of XXXX my identity was stolen as well as my wallet and passport and as well as some of my digital wallets were compromised which resulted in some fraudulent activity. In addition to that I took a contracting job for a individual or entity from XXXX XXXX XXXX whom wanted me to contract out some work at a property located in central Maine. I opened a checking account through Bank of America while I was there because of issues I had with a past account due to my identity being compromised as well as my bank from Montana didn't have any branches out there. The individual tried to issue me payments with cashiers checks one of which was actually a Bank of America check for $ XXXX I attempted to cash on my birthday weekend XX/XX/XXXX or XXXX on XXXX at a branch in XXXX XXXX The teller accepted the check as well as some cash the was deposited and assuming that it since the check was issued from a Bank of America account that you would be able to verify and issue the funds immediately. Several days later I was notified that the owner of the account whom issued the check either closed the account or there was some issue at which point my Bank of America checking account was closed and the cash funds I had remaining were not returned to me. I had been very adamant about before taking this job that it was my priority and very important to me that I attended my cousins wedding that fall and see my family who I had not seen in over a decade. The individual gave me another cashiers check which I also attempted to cash through a XXXX XXXX which wound up also being a fake account. This guy then stole all my belongings and wallet passport over {$20000.00} of my personal property, tools, my dogs food, collar, bed and clothing. Which resulted in a bunch of unauthorized expenditures through my credit lines that fall and winter. I since have secured my accounts and have had very few mishaps since. during my travels in Europe somehow my card information was copied or taken and there was a few charges I have had to dispute. Essentially from those few hiccups there have been no problems with my credit history and when I applied for the account my credit score was the same as what they used in their decision for closing it. Since the closure my credit score has taken a unnecessary hit due to account closures as well as the initial credit line transfer which I was told wouldn't have a negative affect. I think its a little unfair that they close the account as well as take away my opportunity to earn the introductory rewards milage when I make my payments on time. Also When the report said irregular spending that doesn't really make any sense I used credit as needed and I make payments on time so I don't see the issue.

Company response to consumer: Closed with explanation