WFCN – Current client reports on internet platforms indicate that a major US bank is terminating credit cards without notice.
Several more (now-former) clients have confirmed that Bank of America has terminated four of their credit cards, according to a Reddit user.
Their FICO score was “almost perfect,” they said, adding that they had only missed one payment six years prior.
“I checked TransUnion, and the bank in question had recently pulled my credit report and promptly sent me a letter the same day explaining why my credit card, which I had for more than a decade, was closed,” they stated.
Although the poster stated that another credit card issuer had run their credit report the day before BOA decided to shut the card, the customer care agent did not provide them with any information on the reason behind the account closures.
In response, individuals gave guidance and related cautionary stories from like circumstances.
I was manipulated by BOA. found out why when she called and spoke with a kind woman for an hour. Until you speak with a helpful person, try phoning in,” one individual commented.
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Another person stated: “I terminated my Bank of America checking account, and they closed my credit card six months later. Nothing in the way of a letter or warning.
“My other credit card with them was strangely left open. There are no past-due payments on either, so who knows.
The Sun says that banks regrettably retain the authority to terminate accounts suddenly and without cause.
In the last two days, a retired couple has reported that their Wells Fargo account has been depleted of their life savings.
As reported by The U.S. Sun, the couple was left in a state of terror when the person on the other end of the call raised some allegations of illicit activities.
However, con artists conned Judith and George Mijarez of San Antonio, Texas, out of thousands of dollars, according to Fox station KABB.
Judith said that she became suspicious of a number she thought belonged to Apple after seeing a warning on her tablet.
Next, a phone call appeared to be from the Wells Fargo fraud squad, and it was directed to her.
“She told me there were charges on my account, a significant amount for child *orn,” the woman said to KABB.
Later, a caller posing as a Justice Department employee called the couple.
They said that their Social Security account had been compromised and advised them to take their money.
Savings would be safeguarded, the con artists said. $14,000 was deposited to a bitcoin account by the couple at a convenience shop.
Two days later, the couple’s account was emptied of about $43,000.
Though she thought the call was from the Wells Fargo employee, Judith regretted not hanging up after thinking back on the event.
Users may stay safe from scams by following the advice provided by Wells Fargo.
With thousands of locations around the country, the banking company never requests the PINs, passwords, or one-time access codes from its customers.
Phishers may pose as government employees or bank representatives, according to a warning from Wells Fargo.
Always avoid clicking on URLs that you are not familiar with, customers have been warned.
They also must not to respond to mails requesting personal information about them.
As stated by Wells Fargo, “Avoid acting impulsively when requested to do so.”
“Refrain from reacting quickly and move slowly.”