BofA why me?

BofA why me?

Yesterday I received a letter in the mail from Bank of America. Now it wasn't thanking me for being great customer over the years or thanking me for my excellent ability to manage my credit. This letter indeed was informing me that they reviewed my account and lowered my available credit by 50%...

I don't want to mention the first words that came out of my mouth but to say the least I was not a happy camper. Why did BofA punish me?

It's hard not taking these things personal but it's the actions from a few that makes us pay a price. Using the power of Twitter I found @BofA_help and posted my disappointments. David contacted me through that Twitter account and asked me to send him my phone number so I did..don't worry I have LifeLock!

David called, we had a great conversation about how this credit mess is effecting customers like myself. The good news it it was only effecting about 10% of BofA customers, the bad news it BofA has a boat load of customers! I know I wouldn't have used the available credit that BofA had issued but it was the idea that they took it away that upset me. Why do good customers get punished? Well in my simple explanation you can't get blood from a turnip!
My hat goes off to David, having to deal with all the issues that arose from the current economy can't be fun.

Technology today can trigger alerts when your credit card is used for online purchases or if charges go over a given predetermined target. So why did this mess catch the financial institutions with their pants down? Was it greed or just sloppy management?

Unfortunately we all will pay the price for this credit mess. A very successful friend told me the secret to financial success is "Spend less than you make".. simple but effective!


Whats in your wallet?

Scott
www.fdipays.com