I had two credit cards with Bank of America and over time, they increased my credit line, without prompting from me. Obviously, they thought I was a good "risk".
Although I have never been late or gone over my limit, an attempt to use one of the cards recently resulted in a denial. Upon inspection of the account online, I discovered that my credit limit, which was $10, 000 was now reduced to $3, 000 (with no notification to me). About 5 days later, I received a letter stating that my credit limit had been reduced to $3, 000 "based on a review of your account as well as information provided by the consumer report agency named below" (TransUnion).

The same day, I received notification that my other card with B of A, with a credit limit of $29, 000 (recently raised) was now CANCELLED! We were not late on payments and had no balance, but used the card frequently and paid off the balance monthly.

How is this fair? Will this affect our credit rating? We are incensed because there is absolutely no reason for this action!

After 4 or more years with Bank of America, I was never late, never missed a payment but suddenly get a letter raising my interest rate to 30%. Once I realized this I called them to see if it was a mistake, but it turned out a mistake to call them, they closed my account and forced me into a repayment program, which was a lower rate but also damaged my otherwise great credit standing by closing the account. I was told if I did not close the account they would anyway and then charge me high interest!.
They have caused my points on my credit profile to drop for no reason other than they were angry because I complained about the 30% interest.