Social Media Nibbles Back, Spits Out

Remember how I closed my BofA account?  I wrote a semi-snarky letter and did my homework, copying the appropriate executives and feeling immensely satisfied about taking my drip in their wages out in one swipe.  Well, apparently it got someone's attention.

A peon from the CEO's office called me back and left a message on my phone.  I was curious now - someone had actually called me?  Amazing.  I wondered what they wanted.  I called them back at 4:35 p.m. on a business day; already gone for the day.  Left a message.  Peon called again the following morning while I was running errands.  I finally called him back again and got him in person, and here's what eventually transpired:

Peon:  "Mrs. LaDow, we received your correspondence and I am in the process of closing your account."

Me:  "Thanks."

Peon:  "There's just a few details we need to take care of.  When you closed your account, you did it five days into the new cycle.  Therefore, you accrued some interest on that balance, and you'll need to pay that balance before we close the account."

Me: "... Oh-kaaaay."

Peon:  "So if you just go ahead and do that, then we can take care of all this for you, all right?"

Me:  "Yeah, GREAT.  Thank youuuuuu."

Peon:  "Goodbye."  Click.

They think of all the details, don't they?  Accruing interest on a daily basis instead of a monthly basis is super convenient.  I bet he was sitting there in his satellite office somewhere in North Carolina, happy to get another several dozen dollars out of my pocket before bidding my business adieu.

At least they got the hint and spared me another sales pitch.  I'm sure they'd be able to find the transcription of my phone calls with them a few months ago when their "customer service" branch refused to work with my astronomical APR and thought I needed credit counseling.  Of course, once they transferred me to their choice of credit counseling services and the service found out about my spotless payment record and income, I wasn't approved for the service even if I had wanted it.

Yes, take a bite out of BofA if you can, but spit it back out.  Quickly.

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"