"Bank Of America Platinum Plus "

Bank of America® Platinum Plus® Visa® Card Review
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Written by: jude on 2009-04-16

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jude's review: I have been a customer of theirs for years. I have a great credit rating, am a quick pay and I have never had a late payment. When I complained about Mastercard changing my fixed rate card to an adjustable rate card, they offered me a promotional card with a fixed rate. When I took this offer, they reassessed my credit, and approved the new card, but cut my credit line. They got me coming and going

6 Comments

Comment 1 by jude
This Is A MasterCard on 2009-04-16

Please note that this is a MasterCard Platinum Plus not a Visa Platinum Plus. Jude
Comment 2 by hjm331
RE: on 2009-04-16

You're not the only one that's affected by the rising interest rate dilemma, they're raising all of our interest rates.

BoA has a set amount of exposure for every consumer and they don't like to extend credit greater than that set limit. It's all based on income, they suggest 20% but it's a give or take because some consumers have limits that exceed 20% of their income. I'm assuming that they cut your limit to fund the new account as they have done the same to others.
Comment 3 by jude
Bank Of America Mastercard on 2009-04-16

I'm sure that's the case, but I feel that the offer of the fixed rate was a come on so they could review my account, and I fell for it. Jude
Comment 4 by brian23
Wow.... on 2009-04-16

I can't believe this is actually happening with BOA, but it is another sign of the current economic times were in. I guess BOA is tightening up on credit these days, but they shouldn't have cut your CL, that really wasn't right...
Comment 5 by jude
Bank Of America on 2009-04-17

Bank of America has been increasing my credit line regularly for years. I never asked them to do this. Last year I voluntarily reduced my credit line dramatically because it really was rediculously high. But if BoA is going to reduce this all to numbers and cut my credit line again, they have ruined a relationship with a great customer. I hope they think it was worth it. Jude
Comment 6 by wanderer
WOW on 2009-05-27

Thanks for the heads up on this... I am sure you are right about this being a sign of the times. Sure is too bad that it came down to survival. I just purchased a block of stock in BofA. They are coming back but it is painfully slow. The mortgage mess of "free willy" really did us all in!!!
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