Consumer complaint received 2024-06-01 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Trouble using your card — Credit card company won't increase or decrease your credit limit
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
I mailed my payment of { {$6000.00} } on XX/XX/year> and they have failed to apply the payment to my business and personal credit card accounts. I also included instructions for the CFO to apply the principals balance to the principals account each cycle for set off. In addition, I provided my notarized Power of Attorney, granting me the capacity to act as the agent on behalf of the principals account. They did not honor my financial instrument/conditional payment. For starters, you stated in your correspondence, You are bound by the Cardmember Agreement and must make all payments on time. Per the Cardmember Agreement, To pay by a certain date means to send your payment so that we receive it and credit it to your Account by that date. Let the record show that I am in full compliance with the Cardmember Agreement, as I did send Bank of America my payment via mail utilizing a legal tender. It is now Bank of America that is in dishonor and breach of contract by not applying my payment. According to the How to make payments section of the Cardmember Agreement a single negotiable instrument clearable through the U.S. banking system is binding by and well within my rights of this contract. In addition it is also stated that, When making a payment by mail : write your Account number on your check or negotiable instrument and include the payment coupon. I would like to emphasize the phrase or negotiable instrument, as that is the tender I originally sent to Bank of America. Furthermore the Cardmember Agreement states, If your payment meets the above requirements, we will credit it to your Account as of the day we receive it, as long as we receive it by the time disclosed in your billing statement. I would like for Bank of America to provide a written explanation of the requirement that was unmet and interfered with applying my payment. With all of that being said, I am completely confused as to why your correspondence is informing me of the Cardmember Agreement, when I have done nothing outside of my rights of the agreement, nor did I inquire about the Cardmember Agreement. When it is in fact, Bank of America who has violated their own Cardmember Agreement. Fortunately, I am willing to give Bank of America the opportunity to cure this matter by following my original instructions both enclosed and outlined below. I would also like all inquires and late fees returned, all credit card balances be at XXXX balance for personal and business credits accounts. This is my first attempt in notifying Bank of America that they are in dishonor of the instrument that I previously enclosed ( U.C.C. 3-503 Notice of Dishonor ) and requested to be returned if not accepted, which did not happen. This also acts as a U.C.C. 3-307 Notice of Breach of Fiduciary Duty.. Bank of America has denied to increase my credit limit multiple times during the 10 years Ive been a cardholder. Bank of America is breaching their contract ( Federal Reserve Act Section 16 & USC ) as a FDIC member by not depositing my financial instrument.This has placed me in a compromising position of having to risk adverse action of late payments or suspension of service, if I do not abide by the payment option they prefer, which is completely unlawful and violates the following United States Codes : laws ( 12 C.F.R. 229.21 - Civil liability and U.C.C. 3-307,103, and 4-106 ).

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