Bank of America is the WORST bank in the United States?!!!?

My husband and I do all our banking with them, checking, savings, mortgage, credit card and a personal line of credit. Our credit scores are in the mid to upper 700's and we have NEVER paid late on a bill ever. As a matter of fact we always pay MORE than the minimum payment. Our line of credit has a $9000 balance. Our credit card has a $200 balance. It is the only debt outside of the house and cars that we owe. Our debt to income ratio is less than 30%. At any rate I called the other day to request an advance on our credit line for neccessary home repairs (our credit limit was $16,500). Today I went online to check the status of the request and they have dropped our credit line to $10,000. So now not only will we not be able to complete the home repairs, without dipping into savings but they have damaged our credit by increasing our debt to available credit! They blamed it on the economy! Give me a break! What are the chances in this economy we could refinance our mortgage with another bank and procure a loan thru another bank to pay off the loan with BoA? I ask because as of next week we are taking all of our checking account and savings account and going to another bank and we are closing our credit card and any other account we have this horrible company.

A lot of the big banks are doing the same thing, so interview them before you make the switch. Look to smaller, local/regional banks that haven't forgotten the "little people". That's what I am doing anyway.....

I read a article on the Yahoo homepage about this earlier this week. BoA isn't the only company doing this. The article actually said it wasn't a good idea to ask for a credit increase or an interest rate decrease because it causes them to review your account and usually ends in a credit limit decrease. You can move to a different bank but because of the new credit rules they are all looking for new ways to screw you.

I recommend that you contact credit unions in your area. Many credit unions have open fields of membership, so despite the names (which make membership sound exclusive) you are probably eligible to join at least one credit union in your area, if not several. I have been a credit union member since 1981, and I have my checking, savings, mortgage, auto loan, credit card, and home equity line of credit with my credit union. Their terms are better; their interest rates are lower; and they don't routinely decrease credit lines. You can probably refinance with a credit union and get a better rate with little or no closing costs.

Fire them. Pay off EVERYTHING and use CASH.

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