Most of us have read accounts of the callous nature of the Bank of America towards its customers and employees. Jack Mitchell, a former Black employee, filed a lawsuit against the banking monolith for NOT practicing inclusion, in particular not allowing him to serve some of the wealthier White clients.
I have two credit cards with Bank of America with a combined credit limit of close to $20,000. I have not used either of the cards for over a year because I found a superior cash rewards Master Card with Sam’s Club.
However Bank of America sent me a great Balance transfer offer with zero percent balance transfer fee and 0$ APR for 15 billing cycles. I applied to pay off a car loan balance and all seemed well with the world. I expected a quick approval as my TransUnion credit score is 810.
I was mildly shocked when they rejected my application stating they needed to see my Experian credit report which I have frozen. I once tried to thaw my Experian credit file, but they demanded a ton of documentation despite the fact they had issued me a PIN for easy unfreezing! I have since bought a nice home and a couple of cars all with lenders who do not require the approval of Experian.
To summarize, Bank of America did not issue me their Visa Balance Transfer card even though I had close to $20,000 credit limit without a single late payment AND had been with them since 2005.
As you can see below, Bank of America will close my account due to inactivity. Good riddance! I know I will immediately shred all future offers from them as Capital One, who prudently does NOT require Experian, offers better service and products anyway.