Bank of America Credit card department,
I received a credit card solicitation from Bank of America in the mail to transfer high interest CC debt onto a Bank of America CC offering 0 % interest for two years with a 3 % balance transfer fee. I filled out the provided application in the BOA website that I was directed to in the solicitation and entered all the information asked for along with the $8000.00 dollar amount of credit I needed to pay off the high interest card. I was expecting to be either approved for that whole $ - amount or disapproved entirely. I immediately received an approval but for only - % of the amount of the balance transfer I was asking to be credited. I was going to close the other high interest rate card if I was approved to eliminate the number of CC 's I have to better my Credit Score so that I could consolidate existing CC debt in a low interest personal or heloc loan. Instead, now I have an unwanted CC that I paid $75.00 for, ( 3 % of balance ) which lowered my credit score - to - points. There was no disclosure to warn me that if I applied and was n't approved for the entire requested amount that I would be approved and given a CC for a lesser amount. This is a bait and switch unfair practice and I would like to know what my options are to rectify the damage that was done to my credit score.
Bank of America customer in Texas
Feb 24, 2017
* Source: CFPB Complaint Database
Bank of America response to complaint:
Closed with explanation
Submit a complaint with the Consumer Financial Protection Bureau today
File ComplaintWebsite | https://www.bankofamerica.com/ |
Phone | (704) 386-5681 |
Address | 100 N Tryon St Ste 220 Charlotte NC 28202 |
Bank of America | |
Bank of America |
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