Legal Question in Banking Law in California

My fiance has a credit card with Bank of America. She called and requested to have the minimum payment lowered because she wasn't getting paid enough. It was in 2009 so I'm sure she wasn't the only person going through financial troubles. So the customer service rep told her that it was no problem and a lot of Americans were experiencing financial hardships. They lowered the minimum but didn't inform her they were closing the account. Obviously this was done unlawfully, but what kind of case is presented with this? Its pretty much one word against another, and now my fiance's credit can be harmed due to a closed account. Any suggestions?


Asked on 4/08/11, 8:37 am

1 Answer from Attorneys

There's nothing unlawful about it. When you notify a credit card issuer of a change of circumstances that make you no longer qualified under their lending critera, they are entitled to close the account. When she notified them she couldn't make payments because her income dropped, they were entitled to decline to extend her credit anymore.

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Answered on 4/08/11, 9:09 am


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