I had been a customer of Bank of America for quite some time when out of nowhere everything went down the toilet with them. My rate on my credit card skyrocketed to 24.99% when I had never made a late payment. At about the same time they started screwing up my checking account balance so that no matter what I did I was always bouncing checks and they were raking in $30-$50 NSF (non-sufficient funds) fees left and right to the tune of hundreds of dollars.

I called their customer service and was told that I was considered a higher risk so they had to assess me a higher interest rate on my credit card. I haven’t done anything to deserve that at all in my original rate was around 10%. To switch to 24.99% from 10% is a huge change. Then on top of that I was finding that every month I was having around $150-$200 in bounced check fees or what Bank of America refers to as NSF or not sufficient fund fees.

This was really hurting me as each of these was costing me several hundred dollars a month. And the funny thing is I hadn’t done anything wrong. I had not made one late payment. I had always paid my payments on time. And there was nothing wrong with my credit history or anything like that. If anything I had gotten older and maybe my credit report should’ve gotten better – at least that’s what I’ve heard when he hit 30 that you’re considered lower risk rather than higher risk and that’s why car insurance companies charge lower rates or drop your rates as you get older.

Is fraudulently trying to take advantage of their customers. For no reason they up your interest rate by more than double on their credit cards regardless if you paid on time or carry a balance. Then they somehow conveniently screw up how your checks get paid, cashed and processed so that the odds are really increased so that you will not have sufficient funds in your accounts and be subject to numerous NSF fees.

April 13, 2011 RE:"Making Home Affordable Act"

Like yourselves I have spent countless hours on the phone trying to work with BoA. The following is the complaint I wrote to congress after finding out our request for home modification was declined.
Dear Mr. John Boehner Speaker of the House, Senator Cornyn and Congressman Lamar Smith,

Seven months after applying for a home modification through Bank of America, BOA has declined our request for help, and noted on our account we had to be 91 days delinquent before they would intervene and modify our loan. With the help of a qualified home counselor, we submitted all required paperwork requested by Bank of America three times (although 2x's according to BOA our paperwork was never received). In nine years we never missed a payment for our 1500 square foot home, and we have done everything asked of us by BOA and we will lose our home anyway, and that in itself makes no since.

We are trying to save our home by reducing the loan because of two hardships, one being in 2006 when I was involved in an automobile accident and the other in 2009 when my husband was laid off work for over a year. He is working again but took a grossly reduce cut in pay. Furthermore, our most recent news from our daughter who is in the Airforce seventeen years announced she would deploy in six months as well as the father, and I am the Guardian of the both their children and may not have a home.

The reason for my correspondence is I want my congress and Washington to know the new "Making Home Affordable Act" is ludicrous in that it does NOT work. I can't help to think of all the American people who may have lost their homes because of this new law with all its rules, regulations and red tape that goes with it when a perfectly good system worked.

After submitting the letter to congress I began searching for a modification application on line from BAC Home loans Servicing, LP. In my search I stumbled across your site. Your mails are a huge, I mean huge eye opener. I would like to know who is BAC and why is BOA using them for load modification?

I have been looking for someone to help me with BAC and their stone walling. I have been in limbo for 2 years now. And BAC ruined my credit.

It started when I asked NACA to help me in Sept of 2009. I never heard anything from NACA, after a few months I called BAC and they told me NACA had me on a hold with them for a loan Mod. I emailed NACA several times and no-one could find any info on me. So out of the blue I get called from Affordable Finance LLC out of New Jersy saying they could help me. 3000.00 and they could get me the loan mod. Well to make a long story shorter a little, I did the paper work for them, paid them, one and a half years later I found out the lawyer I was working with was replace by another one, and I had to fill out ANOTHER Power of Attorney paper for the new guy. I filed a complaint with the New Jersy ATT Gen, after several months they told me I was SOL on that gettin my money back. I have tried to work with BAC on my own to get the Loan Mod. Gave them the papers 2X and finally was told We make too much money. I live on Social Security Disability (BIG MONEY HUH?) My wife makes 9.50./hr. I have a interest only loan, I owe 121, 000.00 on the loan. I was with Countrywide but got bought out by BAC. Ever since I have been in hell. They have ruined my credit, I have made EVERY single payment but BAC says I am thousands of dollars behind in payments. I have the canceled checks to prove this. I can't get BAC to make my credit current and post my payments on their accounts. My money seems to be dissapering over there.
I want to file suit against BAC. I don't know who to get help from. Or even what to do. Can you gide me to someone that could help me?

I have had a credit card with Bank of America since 2003. When I first opened my account I had a Checking and Saving accounts as well as my credit card account. I had problems with my checking and savings accounts within two years of opening the accounts and choose to close them as opposed to contiuning to do business with Bank of America. When I closed my checking and savings accounts I was informed that if I choose to close my credit card account it would effect my credit score negitatively. I had not had any problems with the account so I kept the credit card open. I have always made my payments on time and paid slightly over the minimun required amount. On my most recent billing statement the payment from last month (April 2011) was not credited to my account. I called to inquire why this payment had not been credited to my account even thought the check has already been cleared through my current bank account and after being transfered three times was told to contact my bank and advise them that a processing and coding error had occurred. I have the proof that Bank of America received my payment however they have taken the position that my check is not enough proof of payment for them they would not even advise were a copy of my check could be sent to dispute this matter. This is not legal and I plan to continue to dispute this issue with them. I would never recommend this company to any I know.

Recently, I was charged around $700 in overdraft fees from my Bank of America Checking account. The problem originally started when I made an accounting error and left my checking account with insufficient funds. I did not realize this, and used my debit card for my normal spending (many small items such as gum, drinks, etc). I used the card around 25 times and was not notified once that there was insufficient funds to cover the amounts.

Therefore, I was charged around $30 every transaction. It was only when I checked my online statement that I found this out. I promptly called Bank of America to try to get my money back, however they would not budge. I asked why they would let me keep charging small items on a card when the account did not have enough funds (although I knew the answer was so that they could keep charging fees and making money).

I remember reading somewhere that they made around 40% of their banking profits on overdraft fees alone, now I believe it. I have been a member with Bank of America for over 10 years and cannot believe what they are doing is not illegal. Also they raised the rates of 2 of my “fixed rate credit cards” for no reason other then “they did not like my payback habits” (although I was never late).

Shame on you Bank of America.