I NEVER asked to be a B of A customer, but one by one my credit card companies (all three of them) and my commercial bank were taken over by B of A. Now, all of my major credit cards are with B of A.

In June, I wanted to pay off a higher interest revolving charge card with a balance transfer from B of A.

The woman from B of A with whon I spoke approved the transfer, took all of the information to mail the check to the revolving charge card company, and ten days later I found out that B of A not only didn't bother sending the check, resulting in my incurring a late fee on the credit card, but conducted a "review" of all my accounts, reducing my available credit on each of my three credit cards to a few dollars over the outstanding balance, resulting in a reduction of available credit of over 35%. I went from using approximately 60% of my available to credit, to over 95%, without spending a penny. . a huge no-no in the credit scoring universe. No amount of complaining or cajoling would change B of A's position, and my credit score dropped about 80 points. Of course, because of my now "fair" credit score, I can't get any additional credit, or even repair my credit until I reduce my indebtedness by over half, at least. But B of A will continue to reduce my available credit as I reduce my balance, preventing me from remedying the situation.

My payment history is perfect with B of A, and I ALWAYS pay more than the minimum payment, sometimes two or three times the minimum payment. This is how B of A rewards its good customers. I can't close the account and get a different credit card without further damaging my credit.

And now this credit score is preventing me from consolidating my mortgage with my HELOC even though I would otherwise be eligible to do so at a drastically reduced interest rate. The guy at my mortgage bank says he's seen a lot of screwed up situations, but this play by B of A is by far the worst.

Next Bank of America Review >>>