Show Me The Money

I recently closed down my Bank of America credit card because I no longer wanted to have money tied up with a secured card something that as an ‘alien’ you have to do until you build up your credit history. I had requested a normal card but they were adamant that it wasn’t possible before I’d had the card about 9 months even though I had been offered one by another bank that was happy with my FICO score. I was advised that it would take 4 to 6 weeks for them to get my money back to me! That’s right 4 weeks, 28 days, or 672 hours! What exactly are they doing with it? How many people are closing down accounts that it takes them at least 4 weeks and maybe even 6 to arrange to get it sent back? Even if there was only one person working in that department I would be worried (if it were my business) that it is too many. 

Less than two weeks later my wife got a letter from the very same bank. In it they thanked her for using Bank of America and proudly advised her she would not need a security deposit any longer and they would return the money within 5 days! By my reckoning she must have the same FICO score as me as we have done everything together in terms of loans and finance since we got here but it would appear her business is more important than mine. Hey, maybe it is because I asked and we all know that it is rude to ask. It’s now well over 4 weeks since I closed my card down and I have received nothing. Not only that, but the 5-day promise to my wife from 2 weeks ago hasn’t materialized either. I wonder where that money is? I wonder whether it is making interest? I wonder if Bank of America really cares one way or another? As a Personal & Business Coach I wonder what would happen to my business if I treated my customers like Bank of America have treated me? 

  

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