Consumer complaint received 2016-09-11
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY
Product: Credit card
Issue: Credit line increase/decrease

Complaint:
Good Morning, Please consider the following communication a formal complaint and a request for an investigation of age discrimination, and retaliatory and predatory financial conduct, by the Bank of America VISA in its administration and management of my credit card account.. 
BACKGROUND : I have maintained a {$34000.00}. line of credit on the above referenced credit card account with the Bank of America for over eighteen ( 18 ) years. The bank 's records will reflect that during those eighteen years, thousands of dollars in financial transactions have passed through this account. The bank 's records will also reflect that during the history of my account, I have never missed a payment. In fact, an examination of the monthly statements over the past eighteen ( 18 ) years will reveal that scheduled payments were not only made on time, and in full, each month but were often supplemented throughout each month by additional, non-scheduled, payments as a matter of continuing financial practice on my part. 

FACTS OF THE COMPLAINT : In XXXX 2016, I conferred with my financial adviser at XXXX in order to conduct a review of my finances, and a possible restructuring of my finances in preparation for two imminent events in my life ; my eventual retirement and financing for my granddaughter 's college education. What evolved was a financial strategy that included the transfer of the Bank of America VISA Card balance to a XXXX. Subsequent to this decision, on XXXX XXXX, 2016, the current full standing balance of {$8100.00}. was electronically transferred to the XXXX. 

On XXXX XXXX, 2016, I received an unsigned, and obviously computer generated letter from Bank of America VISA advising me that my credit line had been reduced to {$500.00} to include {$200.00}. of that amount for cash advances. The letter cited " Recent delinquency on one or more accounts '' and " Balances relative to your credit lines are too high '' and referenced a XXXX XXXX XXXX " FICO '' Score of XXXX as the basis of their action. While at the same time stating that " your account remains open and your current agreement remains in effect. '' On XXXX XXXX, 2016, I immediately contacted Life Lock and queried my credit report and found the following information : XXXX : XXXX XXXX : XXXX XXXX : XXXX To my surprise, I also found the same remarks in the credit report as reflected in the Bank of America VISA 'S letter. The XXXX Credit Report correctly reflected no entries by Bank of America VISA ; XXXX revolving accounts as current, and no derogatory information of any kind. 

As I explored the issue with a Bank of America VISA Account Representative with the goal of restoring my credit line, I confirmed that when the XXXX 2016 balance transfer took place another charge was made on the account and there was an outstanding balance of {$58.00} that had not been addressed. However, XXXX payments of {$14.00} had been previously electronically scheduled for XXXX XXXX ; XXXX ; XXXX and XXXX, 2016 and that XXXX payment had already posted to the account. The Bank of America VISA account records will reflect the scheduling and these postings. A final payment on the account in the amount of {$1.00} was made prior to XXXX XXXX, 2016. 

A day, or so after the Bank of America VISA Account Representative " looked into '' this, she contacted me by phone to advise me that I had been approved for a {$15000.00}. line of credit. Despite a promise to look further into my account, I never heard from anyone again. 

However, what I find most troubling in addition to its possibly illegal and unethical practices is that Bank of America VISA 'S business model is obviously unable to identify its long term, reliable, paying client base and leaves this critical function to computers and scripts. 

.

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 non-monetary relief