Consumer complaint received 2019-04-24
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MN
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 was out of the country on business from XX/XX/XXXX to XX/XX/XXXX. When I return to the U.S. I received a mailed letter from Bank of America that my 2 ( a business and personal credit card ) credit card accounts were closed. I was shocked and didn't understand why. Before leaving for my business trip, I made sure both accounts had a zero balance and was in good standing. I called Bank of America the next day after arriving back in the U.S. and was not given any specific reasons as to why the credit card accounts were closed. I also stopped into a local branch to see if there was any additional information on why the accounts were closed and they were not helpful either. My personal XXXX XXXX XXXX XXXX credit card miles for.. 

Here are reasons why I believe my accounts should be reactivated/unfrozen : 1 ) Investments - I have money to invest and currently have my money at other competing financial firms in a couple of separate wealth management accounts. I have a good friend that retired from XXXX XXXX in the and we have spoke about investing some of my money with Bank of America/XXXX XXXX. Before leaving for my business trip overseas, I inquired about a private client relationship with XXXX XXXX. 

2 ) Rewards - I believe that Bank of America has not sent XXXX   XXXX XXXX earned through spend on my business card ( ending in XXXX ) to XXXX XXXX on my most recent statement during which my account was closed. I believe those miles add up to somewhere between 5,000 to 30,000 miles. Bank of America did send miles to my personal card but has not done so with my Business ( XXXX ) card. 

3 ) History - I have been a XXXX customer for the past 5 years or so with a great history of on time payments and my accounts have all been in good standing. 

4 ) Business spending - I have formally registered business registered with the state of Minnesota, with a federal tax ID number. All of the ( large ) spending on my Bank of America credit cards is directly connected to my business. I do value rewards, especially when I need to travel overseas for work, and the cards help me to earn rewards. I have significant business travel planned in XXXX and XXXX and would like to continue and further my banking relationships with Bank of America. 

5 ) Annual Fees - I had planned to renew both of my ( 2 ) Bank of America credit cards for the foreseeable future. I value my relationship with Bank of America for various reasons. I plan to continue my relationship and hopefully expand it in the future, but this closure/freeze is frustrating and confusing. 

6 ) Legal & Social Media - I haven't written, blogged, posted on XXXX, XXXX, or used other media outlets to publicize this situation, for which I believe that I've been misjudged for some unknown reason. I have spoken with a local attorney who has handled similar issues and related cases, but hope those rather negative options are avoidable. 

7 ) Credit - my credit score is around 770 and has been managed well for years. My credit and banking relationships are extremely important to me. 

8 ) Family - I am starting a family in the next few months and our family needs a good bank and credit cards that will serve us well. We will have increased spending on many items in many stores.

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