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John S.

USA

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Total Points
81

1 Review by John

  • Bank of America

3/19/21

Today was a good day. I finally paid off a low-interest (because I got it so long ago) card I have had several years with BOA. Of all the banks I have had, good times and bad, recessions and booms, this Bank has been the meanest, least honest, and "most-gouging" of the average consumer, bar none in my experience. I never missed a payment, always kept under my credit limit, but this Bank constantly lowered my credit limit when I was only able to pay close to the minimums for a couple of years (2008-2010), even though, as I said, I was always paying it and other bills down faithfully and i never screwed them. They made money off of me. The effect of their relentless behavior was to lower my credit score because of "credit utilization" ratio. By lowering my ceiling again and again, even though I was reducing my balance every month, they caused my score to go down and led other banks to increase my interest rates with them - which of course BOA also did itself (to help them at the expense of the average person, who did not cause the crash - they did). This mirrored their fundamental behavior toward the rest of the country - in the 2008 financial collapse, BOA was a the heart of the problem, perhaps more than any other bank, they helped to cause the collapse. And they screwed millions of people, for years. Their executives, of course, did not suffer. As the economy finally got back on its feet in the Obama years, this megabank resumed all of its anti-customer habits and and some reputation of general bad service. SO today, when I closed this account, I looked on the website to see where I could register a complaint about the service (not even about the big bad history I wrote about above, just their present service), and NOWHERE can you do that. They have pages bragging about how much they "give" to "the community," how nauseatingly politically correct they are, how great and noble their "history" is (highly edited, like North Korea), etc. Want to contact them? About anything? Every thing is a page or a link to a promotion to buy something; everything is a come-on; it is relentless. This is a perfect example of why the megabanks need to be brought down. I have heard and read all the "arguments" (excuses) why America "needs" megabanks, but it's economic drivel, meant to scare people. We - real people, workers in the economy - would be vastly better off if the big banks were broken up. And as to needing megabanks to leverage big capital projects, the wealth that is in the hands of America's "other banks" and millions of investors can be summoned for that, as it has been before the existence of megabanks. The megabank crowd also likes to play the China card (even though they themselves are totally wrapped up with the Chinese, as megabanks are so incestuous) that America needs "American" banks. These banks are about as "American" as the North Pole - that is, not at all - no nation, no loyalty. So glad I am now to be free of them - and of Chase, and of the equally venal Citibank: thieves, masquerading as "creators" and "financial innovators." That is polemical smoke to confuse people, no reality at all.

Service

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