Bank of America Credit Card Complaint

Credit line increase/decrease

Bank of America Credit card department,

Credit line increase/decrease Massachusetts

I have credit card with bank of America that had a high Balance ( aprox $4800.00 on a $5000.00 line ) I made a payment Of $2500.00 to decrease my high balance against my available Line in an attempt to help restore my credit score to a higher Level. Bank of America with no notice immediately Decreased my line to $2300.00 after they received the $2500.00 Payment leaving my credit usage to still show I have high Usage against my available line of credit as they had Reduced it! I think them being able to decrease a line of Credit with no warming or grace period is extremely unfair From a consumer stand point and this should not be allowed. If bank of America gave mea 90 day notice at lease I would Of know and the credit bureaus would of been able to factor True situation into their metrics! I think this should be Addressed across the industry not just bank of America As I am sure I am not the only victim of this. thank you, -

Bank of America customer in Massachusetts
Feb 04, 2017

* Source: CFPB Complaint Database

Bank of America response to complaint:
Closed with explanation

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Contact Bank of America

https://www.bankofamerica.com/
(704) 386-5681
100 N Tryon St Ste 220
Charlotte NC 28202
Bank of America
Bank of America

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