This credit card company is as bad as one of those high-interest rate, high-fee secured credit card companies. They gave me a Titanium card with an initial $3000 credit limit in 2001. I ended up running up the credit balance because I had several unexpected deaths in the family but I was never once late on a minimum payment. I was able to pay them off late 2002. The day I paid the balance completely, they dropped my credit limit to 2700. I hit rough times in the last two years but still was paying them on time but was constantly getting hit with high interest rate charges and over-the-limit fees and cash payments made by Western Union Quick Collect or in a Fleet branch or online were not getting applied until 4 - 10 business days later. When you ask customer service supervisors, their answer is that they have the right to hold the payment until they get verification of funds. (What verification is there on a cash payment.)
If your credit limit is 2700 and you owe 2650. They charge the finance charges first. Once this is added this may take you over your credit limit which then gives them the ability to charge another $35 fee for that.
Last Friday I paid down the bill to 2600 and had to fight with a supervisor to free up the available credit because it was done through Western Union Quick Collect. Today I checked online and they have reduced my credit line from $2700 to $1000 and they don't give any warning before performing these actions. The day they decide to drop it, it is done instantaneously. If you were away on vacation or a business trip, you would be out of luck because they also don't do anything to help you.
They review your credit line every due date to reduce the credit limit.
Unfortunately Bank of America does not throw them out of business until first quarter 2005.
Bronx, New York