Bank Of America closed my credit card for no reason? Some advise please.

Question

Sorry OP, but there's no such thing as "no reason".  It could be any number of things such as fraud or something else that could have triggered the closure.  But, with a $500 CL, it's anyone's guess.  Have you called the underwriting folks or see if someone could provide the number that was listed on the letter?

Answer 1

Creditaddict wrote:
FinStar wrote:
Creditaddict wrote:
Mark_Power wrote:
The letter has a number to call. I tried calling, tells me to leave a message and someone would call me back. I left a message, will see if someone will call me back. Reason they gave on the letter: This letter is to advise you that your above referenced account has been closed in accordance with your Credit Card Agreement, which permits either you or us to terminate the account at any time.  Could it be that they just decided to close it, cause I had BofA card before and had late payments on it?! But why approve in first place. I doubt it is fraud, they probably would of said it right?id call directly into a credit analyst!try 866-811-4108If there are documented notes from the risk group, the UW analyst would not be able to do anything.  Best for the OP to get the call back and see if they can reopen, if not then no harm, no foul (i.e. account < 3 months old with $500 CL).  If this account had a considerable CL with a pretty long history, maybe it would be worth the effort.id probably take that cash to another bank!I don't hold $100k+ in a bank that won't give me a credit card... PFFTand branch manager that doesn't even know good numbers to reach people to get answers on this problem is a branch manager that should be fired! and even more reason I wouldn't keep money with that bank!Depending on the circumstances, I could see your first point.  Not sure if the risk group is basing their decision on the previous OPs track record on the other BOA account.  So, at this point, just speculation. I think you're being a little too extreme on the BM being fired, just because they weren't able to resolve right away (or didn't have the right number) doesn't constitute the individual should be terminated.  Sometimes you gotta take it down a notch.  Now, if the BM was incompetent, unempathetic, or did not see through the OPs concerns, then I could see that (or poort track record at that branch).  If you recall, a while back, sandman had considerable Chase deposits and his account closures couldn't even be salavaged by his PB/CPC and/or business banker.  Should those bankers (whose hands were tied) be fired too?