Bank of America Credit Card Complaint

Bank of America Credit card department,

Credit determination Massachusetts

I recently applied for a - credit card with Bank of America, and it was not approved. The letter I received said " we were unable to approve the [ card ] you requested because the amount of credit extended to you by us and/or our affiliates is adequate. '' Since I did not have an interest in increasing the total amount of credit I had with Bank of America, but only in getting this credit card, I called Bank of America to ask if they could transfer some of my existing credit to the new card. I was told they could not, because the OCC does n't allow graduate students to have more than - cards ( I think the implication was : does n't allow graduate students to have more than - cards with the same lender ). I told Bank of America that I had previously talked with a Bank of America representative to specifically ask if having - existing cards would prevent me from getting a - card, and that the representative I talked with said that Bank of America does not have any policy that would specifically limit me to - cards. The phone representative


I asked the Bank of America representative if they could direct me to the OCC policy, but they said that they could not find it. However, they told me that it did exist and that I should be able to find it by googling, and that the only way for me to get the new card I wanted was to cancel one of my existing cards. I was unhappy about this, because the existing card I needed to cancel ( the one I was no longer using ) was my oldest line of credit, and I was concerned that it could hurt my credit rating. But the representative told me that canceling a card was my only option, so I eventually agreed. I have talked with Bank of America twice ( once by phone and once by chat ), and they have told me that they could not direct me to the OCC regulation, but that it does exist and apply to me. They suggested that I contact - and the OCC if I wanted to see the regulation, but that I definitely needed to cancel my existing card to get the new card. I have since followed up with - and the OCC, but both told me they could not help me. I also called CFPB, and the person on the phone could not find the regulation. Therefore, I am filing this complaint, because I feel that I may have been coerced into canceling my oldest credit card by being told that a regulation existed and applied to me, when I have so far not been able to find any evidence that it exists and applies to me. The primary resolution I am looking for is for evidence that this regulation does exist and does apply to me. If it does not exist or does not apply to me, that suggests that Bank of America coerced me into doing something that has negative financial repercussions for me by telling me something that was n't true.