What are the consequences of not paying the balance due on Bank of America accounts?
As of November 30, 2008 accounts that are 180 days or more past due will be considered a bad debt by the Bank. Bank of America will report this to the national credit bureaus, which could have an adverse impact on a cardholder’s personal credit rating. The cardholder will still be responsible for paying the debt. As of October 15, 2008, Bank of America no longer honors “mission critical” status.
