I've had a credit card with this bank since 96 . I always paid on time never had a late payment . I was even able to get a increase on my credit line a year ago and I requested another one this week it wasn't much more only 3,000 more from 6,000 and the declined it . I called the bank and they said they didn't accept it because I had a delinquency with my other card ( which i had no idea of) and then they say they are closing my account for this reason. I told them I will contact discover and find out about the issue and get back to them and requested they don't close my account . I really thought it was unfair closing my account on the spot without any notice not considering that ive been a member since 96 I called discover to discover that there was onle late payment of 15 dollars which I paid of right away and they said they will tell the credit bureau to take the late payment off . I had surgery and for some reason the automated payment didn't work.
Is there anyway I could get my account back. I really don't want to sue anyone but I really feel that i'm being treated unfairly I really needed this credit since is the only credit card I used other than discover. I never made a single late payment for them since 96
i know this is long but just wanted to give details please help.
There is something called a Universal Default Clause...which allows banks to raise rates, lower limits or even close accounts based on activity on other accounts in your credit report.One late payment on another card is all it takes. There is nothing illegal about what they are doing.
The credit card companies in recent years have become sleazy predators and Americans need to wean themselves from them and their high interest cards. We need to save money and pay cash for what we buy...otherwise we'll end up in the usury trap of the credit card giants.
What grounds do you intend to sue on? The creditors always have the right to close the account. "Unfair" does not mean illegal.
You can sue anyone anytime for any reason for any amount.........as long as you can afford it.............
Sounds like the only justice you can get here is the justice you take for yourself.
Street Justice.
Actually you better off with out them . No you can't sue them . you signed a an agreement with the bank . But there is thing called "universal default clause ", That means your current credit card issuer can raise the finance rates or close your account for what ever reason . Even if you have a perfect record with your current account . But the good news President Obama signed into law "The Credit Card Act" which becomes in effect 20th February 2010. But I also want you to check out these videos form You Tube , "debtors Revolt Begins Now" and "Run on the Bank " also there is a consumer web site called www.my3cents.com . well over a thousand complaints posted on banks . It sounds like your dealing with bank of america