Consumer complaint received 2025-06-15 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: IL

Complaint narrative:
This all started when I took out a personal loan to consolidate debt with XXXX XXXX. 

I have XXXX credit cards with Bank of America. Unfortunately, I disbursed loan proceeds ( {$19000.00} ) to the wrong credit card. This resulted in a negative balance on the card of - {$10000.00}, while leaving the other card ( which should have been zeroed out ) with the full {$19000.00} balance. 

I called customer service and opened a ticket to correct the situation. Bank of America could not reverse the transactions, and I hit dead end after dead end trying to get the money correctly applied to the correct account. I ended up paying the personal loan off and the credit card with {$19000.00} cash. 

This is where it gets good ( or bad if you have suicidal tendencies ). 

It took me XXXX months, with countless hours on the phone, branch visits, letters, etc., to receive a check from Bank of America for the negative credit balance. When I finally received the check, I cashed it in a Bank of America checking account. Adding insult to injury, they then put a XXXX day hold on the check, issued by Bank of America, and cashed in a Bank of America checking account. So basically my money was held hostage for approximately XXXX weeks. Thankfully, though, I was finally in the clear! 

A few weeks later, I check my accounts again. To my surprise, there was a - {$19000.00} " payment transfer '' applied to the credit card that was originally supposed to get the disbursement from the personal loan. AND, there was a {$19000.00} " payment transfer '' on the other credit card. I now had a balance of {$28000.00} on XXXX card, which was XXXX  my credit line, and - {$19000.00} on the other card! 

XXXX XXXX! Of course I called, spending more countless hours on the phone speaking with the fraud department, consumer services managers, tons of agents, etc. Obviously this was a huge error made by the Bank, I didn't authorize this, and I wanted it corrected immediately. 

They did correct it. Sort of... They removed the - {$19000.00} credit balance from the wrongfully credited account, but left me with the {$19000.00} " payment transfer '' on the incorrect account. 

I have now been sitting with this balance for another XXXX months. More countless hours on the phone, XXXX different timelines, explanations, sorry 's, etc. The Bank acknowledged that they made an egregious error. However, it would take another 20-30 days of investigating, just to be sure these a-holes indeed made the error. It is now day XXXX, and still no resolution to be found. 

To conclude, I have lost a credit line, spent about 30-40 hours on the phone, my credit score has decreased by XXXX points, and I'm stuck with the minimum payments to keep the account current. 

I can not believe the nightmare that this has been. I am strongly considering getting a lawyer and suing them, because at this point I believe they have committed fraud and have stolen {$19000.00} from me. Please help!

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 monetary relief