I was sent a proposal to apply for a new card with 0% interest. During the application process I submitted 3 balance transfers, these were accepted by BofA.
It appears now that only one has been accepted and I assume the other 2 were rejected. They do not show up on the balance transfer status page. I did not receive any notice of the rejection. BofA reduced my other credit card limits significantly without my approval or prior notice.
The new 0% interest card has such a low credit limit it is totally useless. The proposal for the card application did not mention any negative actions as a result of applying for this card. I read through the fine print on the application and nothing was mentioned about rejecting my balance transfers requests or significantly reducing my current credit limit without notice because I submitted their credit card application.
That was information I would have found necessary in determining to apply for the new card or not. I think BofA is a fraud and I'm proceeding with a formal complaint process with the authorities.
Product or Service Mentioned: Bank Of America Credit Card.
Reason of review: Not as described/ advertised.
Monetary Loss: $20000.
Preferred solution: Deliver product or service ordered.
Bank Of America Pros: Previously reliable.
Bank Of America Cons: Credit card application fraud, Misstatement of facts, Fine print.