By Carol Hammes November 04, 2009
I received a promotional offer and checks in the mail from Bank of America on October 16, 2009. I used one of the checks to pay off a higher interest loan with my credit union on October 30, 2009. This check was returned to the credit union unpaid because my credit card account had been closed. When i called Bank of America, I was informed that my account had been closed on October 27 due to lack of activity. When I asked if I could reopen the account since it had been closed only a few days, I was refused. This put me in predicament with my credit union and was very embarassing to me. I made spending decisions that I otherwise wouldn't have if I would have known my account was closed. I question the ethics and legality of sending a promotional letter that encourages me to write checks on my credit card account, then closing my account less than 2 weeks later with no notice to me. I will no longer do business with Bank of America. ...read more
When the economy tanked in the early 2000s most people began to worry about the state of their bank's health. At the present time, however, banks are beginning to stabilize and hire more workers as they iron out the remaining wrinkles in their business. Those interested in banking should have a wide r... ...read more
Banks and credit unions have been in the news a lot lately for many reasons. This has led many people to wonder if there are any difference between a bank and a credit union and have started to compare banks with credit unions. The two has similarities, but then they also have many differences as well... ...read more