Date:   6/20/2008 3:45:08 PM ( 16 y ago)
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URL:   https://www.curezone.org/forums/fm.asp?i=1199082

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I want to Rant about Bank of America for a little while. I don't recommend anyone be their customer, definitely not have their credit card. I intend to pay mine off and not use it anymore.

They do these false credit card payment "Due Dates" and then penalize you even if you pay before the due date. The way this works is that your payment must be made on a "business day" before the cut-off time (I believe this is 3:30 EST), whether in person at a bank, on-line payment, telephone payment, etc. - even though it does not state this anywhere on your statement. Otherwise they will credit it to the next business day. But they have not chosen to make their due dates only fall ON business days.

So if, for example, your due date is Sunday the 26th, if you go inside the bank and make a payment on Friday the 24th at 3:45, then your payment will be considered to have been made on Monday the 27th, and you will be charged a late fee and it will be a mark against you, might affect your interest rate or something - even though you paid 2 days before the due date!!

Again, even though the bank may be OPEN on Saturdays, and you go inside and hand them a check on Saturday the 25th, it will still be considered a Monday the 27th payment, and LATE. It is impossible to schedule a payment online for a Saturday or Sunday, too, even if that is the due date.

I want to point out this is obviously an intentional choice they have made. Of course, you can CHARGE things on their card anytime, 24/7. Conversely, I can pay American Express online on Sunday night the 26th at 11:49 p.m. and they will accept the payment and credit it to that same day. I mean, computers know by the millisecond when you initiated a transaction!

Another solution would simply be for their system to convert all non-business day due dates to the nearest business day, so that it would never be due on a date they don't accept payments!

Not only that, but I've gotten lots of misinformation and RUDE treatment from Bank of America, on the phone and on the internet. I have some other stories related to other things when it comes to this odious bank, but I'm feeling better about this rant so I'll end now.
 

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