Consumer complaint received 2021-10-24
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TN
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Trouble using your card
Sub-issue: Can't use card to make purchases

Complaint:
I have been a customer with Bank of America for over 20 years. I currently have XXXX savings, XXXX business, XXXX checking, and XXXX credit card accounts with their institution. I applied for a credit card with travel perks in XX/XX/2021 and was rewarded with a credit limit of {$17000.00}. As of XX/XX/2021, I have utilized {$5700.00} of the cards total limit. I was attempting to make a purchase on XX/XX/2021 for {$130.00} at a furniture store and my card was declined twice. I immediately reviewed by balance and available credit online and noticed my credit limit was reduced by {$11000.00} to {$6000.00} without notice or communication prior to providing a reason for this change. Although the {$130.00} was within the remaining balances threshold, I was very concerned the available credit was reduced without communication and by such a material amount. I immediately contacted Bank of America where I first spoke to their customer service department for credit cardholders. The representative informed me she could see where the credit limit was reduced but could not provide detail. From there, she transferred me to Collections. Collections informed me that they could not assist with credit card balances and transferred me to another line that was an automated line informing me to call during business hours, where business hours were not disclosed on the automated message. I called the customer service line again and spoke to XXXX XXXX in Texas ) and she informed me my account was in collections for a payment that was XXXX days late. I was in disbelief, as the payment was not even 30 days late to pay for such a drastic penalty. I requested for XXXX to transfer me to management, and spoke to someone name XXXX. XXXX, a manager at Bank of America credit card XXXX said a letter was mailed regular mail and I would receive a letter in XXXXeven days providing more detail, but there was nothing more he could do and referred me to call a credit agency. Although I understand the concept of credit and the associated risk, I was not informed or notified prior to this change. I also requested a copy of the credit card agreement indicating a reference in the card language stating my credit would be reduced. They could not provide this on demand- only by request, which draws concerns as well.

If Bank of America felt I was a high risk, I should have never received the {$17000.00} limit, as purchases were made with no knowledge that the limit would be reduced or I would be punished for making purchases on credit.

I am contacting you to help restore my limit and now my credit score because the debt to credit ratio with this card has now impacted a solid score of XXXX. It is my belief that Bank of America should be held responsible for their actions. Otherwise, Bank of America should know that I will be moving 100 % of my business to other institution ( s ) that at a minimum provide sufficient communication, rationale, and appreciation for long term customers.

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