Social Media Bites Back (Well, A Nibble)

When the going gets tough... you post it on your blog.  This is popular media as a vehicle for my meager (yet very real) complaints about what's wrong with the companies I am hopelessly tied to because of their business practices.


I like how I have to close my account in writing to some random office in Florida, too.  No addressing mail to a real human any more (well, unless of course you're part of the executive team, in which it goes to an assistant to the assistant to the BIP [Big Important Person] in their castle in North Carolina.)


If I get a response, I'll let you know.  In the meantime, a person with a "very good" credit score is not being screwed over by carnivorous, greedy shareholders and CEOs who kiss their butts to make them and their bottom lines happy every quarter.  As a drop in the BofA bucket, this is merely a cathartic way of expressing my displeasure instead a means to a specific end (hence why I did not ask for a lower APR, or wish them to burn in Hell, or any other ridiculous requests that one sees with angry letters).  Nope, taking my business elsewhere with a snarky letter left behind will do just fine, and whether they respond matters not to me.  *washing hands*


I have written to Bank of American thusly:

August 14, 2010

Rebecca L. LaDow

My Road

New York

Account Closure

FL1-300-02-07

4109 Gandy Blvd.

Tampa, FL 33611-3401

RE:  Account xxxx

Dear Account Closure:

I am writing to ask you to close the account referenced above, effective immediately.  You will be receiving a check for the full balance due. 

As a customer of Bank of America for greater than a decade (by extension first an MBNA customer), I am disappointed with how my APR has been handled over the years, especially since Bank of America acquired MBNA.  The income generated from the 19.98% APR applied to a five-figure debt is quite respectable for your bottom line, but for my household, we now choose not to support your business practices. 

Bank of America has a long way to earn any of my trust or business back.  Perhaps my influence is not as high as you’d care about, but I will not recommend Bank of America to my family, friends or children as they reach an age where they can open a line of credit. 

I hope Mr. Brian Moynihan will guide Bank of America into better business practices during times of famine without alienating the customer base.  To ensure that my voice is heard, I have copied the executives below on my correspondence, as well as placed this letter on my blog for my admittedly meager fan base. 

Unfortunately, I must continue my business with you through another line of credit I have open, which is now “dead” credit as the APR will double up to approximately 14% if I ever use it again. 

I wish you the best of luck in pleasing your shareholders, and hope that one day your customers’ satisfaction becomes a priority.

Sincerely,

Rebecca L. LaDow

cc:

Brian Moynihan, CEO

Charles Noski, CFO

Joe Price, President, Consumer, Small Business and Card Banking

ESL Credit Union


p.s.  I have enough crap in my life to worry about than working overtime to pay 20% of a debt to ANYONE.  In the meantime, LET'S DANCE:

"it takes control and slowly tears you apart"