Q: Hi, Is this legal: Bank of America sent email to parents that credit limit was being lowered. I recieved no email.
I checked settings no one else is on this account. This is a straight seperate credit card only account. We have a separate checking account that is linked, this may be where the contact info pulled.
A: Can BOA lower the credit limit of an account? Yes absolutely they can. Was the notice sent to the wrong person. Maybe but no way to say without reviewing the account paperwork. Whether the notice was done wrong or not BOA is not legally obligated to give you an extension of credit and they can lower it or remove it at their choosing.
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