Consumer complaint received 2024-05-19 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:
On XX/XX/XXXX, Bank of America XXXX reduced my credit limit reduced from {$23000.00} to {$2400.00} on my 1st visa credit card and from {$9000.00} to {$2200.00} on my 2nd visa card, with no specific reasons. I have been a customer since 2003 with excellent payment history. This was sent to me via email. 

XXXX- on XX/XX/XXXX around XXXX, I tried to use my Bank of America credit card ending in XXXX to make a purchase over the phone. I was advised that the card is declined. I said this can not be because I have over $ XXXX credit limit. I used my other bank of America card ending XXXX to make the purchase and was told again that the card decline. I was shocked because my credit card s have plenty of credit usage. I ended up using another credit card, which is XXXX Bank of America and it went through. After making the purchase, I quickly called Bank of America at XXXX XXXX XXXX to see why my cards are declined. I was advised that my payments due on XX/XX/XXXX was not received. I said, this can not be because I make my payments monthly via the online portal, which I did. For some strange reasons, which I don't know, the payments were not processed. I made the payments then and request the late fees to be waived, which were waived with no hassle. I hang up and went back to work. 

Scenario 2 - on XX/XX/XXXX, I checked my email after work ( after XXXX ) and saw 2 emails from Bank of America titled- " reduction of credit limit '', with no specific reasons. I was in awe and flabbergasted, because nothing has changed with my credit and my payment was not late over 30 days. XXXX was due on XXXX of XXXX and I made the payments on the XXXX XXXX. I called Bank of America to see what is the reason for this credit limit reduction. The Agent stated this can be a result of a delinquent of one or more accounts, collection activities, payment history etc. Also, the decision is is based on the credit bureau. I asked there has to be one thing that stood out that caused such a drastic reduction. I was not satisfied with the answers I was given, so, I requested a Supervisor. I was told by Agent that I will need to speak a Supervisor in the Credit XXXX team which is closed and I will need to call back the next day. 

On XXXX, at XXXX pm, I called Bank of America Credit Team and spoke with XXXX in the Arizona call center. I asked to speak with a Supervisor and I was placed on hold multiple times waiting for a Supervisor. In the end, I was advised that no Supervisor is available and will receive a call back. After being on the call for almost XXXX minutes, I didn't accomplish anything. 

On XX/XX/XXXX, at XXXX, I called back Bank of America , Credit Team because I did not receive any call back. I spoke with XXXX and requested Supervisor again, I was put on hold for XXXX minutes after which I was hung up on. XXXX did not return to the phone or provide any status. Instead, release the call and never call back. At this point, I was livid because of all the time spent on the phone for the XXXX day in a row with no resolution. I called right back and spoke to XXXX and request Supervisor again and stated what happened on prior calls. Per XXXX, no Supervisors are available and some have left for the day. I refused to hung up, so, he placed on hold to locate a Supervisor. I was on the call for almost XXXX minutes, after which I was told that no Supervisor is available and will het call back. I was so mad, I hung up because this was super frustrating. Poor services services received and no call back. My time is not valued. 

As of today, XX/XX/XXXX, still have not received any call back form any Supervisors. 

What I did.? The cards declining payment and credit limit reduction all triggered around the late late payment for XX/XX/XXXX, which was not late for XXXX  days. I have a few more credit card accounts and loans from other companies and they are okay and limit not decreased. I have also pulled my credit report on XX/XX/XXXX and my credit score is over XXXX with XXXX and XXXX with XXXX. I have no delinquent accounts or accounts in Collections. No missed payments. I have excellent payment history. If you need a copy of my credit report, I can provide copy as proof. The credit report was updated on XX/XX/XXXX which is before Bank of America reduced my credit. I feel devalued. This credit reduction of almost {$30000.00} combining both cards, is going to affect my credit. 

What I need? I need my credit limit to be reviewed and I need a specific as to why my credit limit was reduced so drastically. I believe this is an in house mistake my Bank of America that happens at the same time my payments were late for XX/XX/XXXX. Check my payment history over the years which will show, impeccable. For such a drastic credit limit reduction, this is an insult and slap in the face. The credit limit that is left which is {$2400.00} and {$200.00} is barely enough to cover my account balances. The balances are sooo close to the credit limit, which is now looks like I maxed out my credit, which was not the case. I can see if the credit was cut in half or so, but, completely removed, this is mind boggling. My head has been hurting since. I have been having chest pains as well. I take my credit very seriously. 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