Date Received: 2024-01-31
Issue: Fees or interest
Subissue: Charged too much interest
Consumer Complaint: Bank Of America applied {$51.00} in interest charges to my credit card account. The Credit card had a balance transfer with separate terms and agreement, and at the time of accepting the balance terms and agreement it was explained to me that as long as I have available credit line and I make purchases and pay off those purchases within the due date that no interest will be charged. I contacted Bank Of America on XX/XX/XXXX and XXXX of XXXX and both employees that spoke with explained that was their understanding as well. The new charges which generated the interest was paid off way before the due date so those employees that I spoke escalated the issue to their back office as they called it for review because they did not understand either why the interest was applied to my account. The back office sent me an email XX/XX/2024 denying my request to reverse the interest charges and they did not give an explanation. When I call back the representative, explain that I would need to pay off the total new balance to avoid any interest charges. Otherwise any payments made would first apply to the minimum balance on the low interest rate, which would be my balance transfer and then to the new purchase, which has the higher interest rate, and the interest rate for the new purchases would apply immediately not like other credit cards where you have a grace period without interest and a due date. The wording in the terms on the conditions included with my statement, says that no interest would be applied to any new total balance generated from month-to-month if its paid off within the grace period. The Bank Of America customer service representative my statement with the new charges, resulted in a new total balance, and it meant that I would have to pay off that new total balance. This goes against the point of having a balance transfer and the availability of a credit line to make purchases and pay those purchases off. in essence, Bank Of America saying if you have a balance transfer and you make any new purchases, even if you pay those purchases off before the due date, you will still be charged on those new purchases because your new total now includes the balance transfer. This is a deceptive and manipulative practice for taking advantage of customers trying to follow the rules and do the right thing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11003
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Problem with fraud alerts or security freezes
Subissue:
Consumer Complaint: Im a victim of identity theft, someone used my personal information to create a bank account with Bank of America, and now Im having problems in my credit reports and I cant remove the fraud alert from my file, the fraud was in a different state that I live in
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78728
Submitted Via: Web
Date Sent: 2024-02-06
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I have a credit card from BK OF AMER and have always made my payments on time. For some reason, I realized that there was a late payment on my credit report. I called BK OF AMER, and they said their system mistakenly put me on paperless billing, which I did not request, and it caused my 30-day late. As you can see, I have always had a stellar payment record. I tried contacting XXXX, XXXX, XXXX, and BK OF AMER with no successful resolution. XXXX, XXXX, and XXXX reported me 30 days late in XX/XX/year>. There was an error on their part. I was never 30 days late.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98034
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Getting a credit card
Subissue: Delay in processing application
Consumer Complaint: I applied online for a unlimited cash rewards card with Bank of America on XX/XX/2024 the representative told me I was approved and they would send the card out in XXXX business days on a recorded line, Bank of America had access to a passport on file from a old account which has my picture on it and the very next day blocked the new card from being sent out according to a customer service rep on a recorded line when i called on XX/XX/2024, Bank of America saw i was XXXX XXXX on the passport information and it triggered a manual review of XXXX form and income verification as if i were buying a vehicle, I was told I could not use my household income which i rely on with my spouse because im XXXX and that they can only use a check stub and income tax information which im not required to file to process the application, these actions by Bank of America are very discriminatory , after a hard pull of my credit I am eligible for this card but due to XXXX I was flagged as if im a XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AR
Zip: 72209
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Problem with a company's investigation into an existing problem
Subissue: Problem with personal statement of dispute
Consumer Complaint: I have a credit card account with Bank of America. I don't use that account and keep it as a backup in case of need. My primary credit card account is also with the same bank. I also have several other credit accounts with different financial institutions. In XXXX XXXX XXXX I had to use that credit card for a small payment of {$10.00} in a hardware store because my primary card didn't work due to a glitch in the card processing system. At the time, I had auto payment set up for all of my credit accounts except those XXXX from Bank of America, because there was a technical issue which prevented me to set it up in the past. Because I almost never use the credit card, I completely forgot about it. I've had balance notifications set up but for some reason those for the account went to my spam folder. Because I was very busy, I went out of state and then my entire family got sick for a couple of weeks, I didn't really thought about even visiting my internet banking. Later I was notified by a credit bureau that my credit score dropped significantly from around XXXX to under XXXX. I immediately contacted the bank and paid the late payment, which climbed to {$12.00} after adding some late fee and interest rate. This was my first late payment ever. I admit it was my fault that I didn't pay the payment on time, however the bank is partially to blame : - I was not able to set up the auto payment before the incident. Only after that and after we spend XXXX minutes in the bank trying to set it up, they later called me and helped me to resolve it over the phone. Still the way we did it was not very straightforward. - They failed to notify me about be late on the payment. When I confronted them with that they said it's not their obligation. I tried to ask them to do me a favor - as I did over the years when they made mistakes, and because I think I'm their pretty good client with accounts with a big cashflow - and remove that from my credit report after I paid those {$12.00} of debt, but they refused to do so and said it was completely my fault.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98058
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: I had a business account with Bank of America for years and they suddenly decided to close it in XX/XX/2023. They sent me a letter that they have closed the account and that the funds will be frozen until they finish reviewing the account. Since they I have not heard anything from the Bank. On XX/XX/2023 I walked into the Bank to ask about my funds and they didnt have any answers either. All they gave me was my statement. I have called them several times without any answers!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 180XX
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the Fair Credit Reporting Act this creditor has violated my rights under 15 USC 1681 section 602 states I have the right to privacy ( 15 USC 1681 section 604a section 2 ) It also states a consumer reporting agency can not furnish an account my written instructions under 15 USCS 1666b a Predator may not treat a payment on a credit card account under an open and Consumer Credit plan as late for any purpose
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89436
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Other features, terms, or problems
Subissue: Problem with balance transfer
Consumer Complaint: I inadvertently initiated a Direct Deposit Cash Advance request from my credit card to my checking account, mistakenly believing it was a Balance Transfer request. Upon realizing my error, I promptly contacted customer support on the same day to request the cancellation of the transfer. It's worth noting that both my credit card and checking accounts are with the same institution, namely, Bank of America. The support representative assured me that this issue could be rectified, and they advised me to reach out again once the transfer had been completed. Subsequently, I made another call the following day, during which I was instructed to repay the loan amount and then contact them after the payment had successfully gone through. They indicated that they could then proceed with the removal of any associated fees on my credit card. Upon my third call, the representative informed me that a request to cancel the charge had been initiated. However, to my disappointment, I later received notice that the request had been denied, and I was required to pay a transfer fee totaling {$450.00}. Additionally, I was charged an extra {$14.00}. It's important to note that the funds were only in my account for a single day during the transfer, and yet I incurred a total charge of {$460.00}. Had I been presented with a more efficient method for canceling the transaction, this situation could have been avoided entirely. Furthermore, if I had been informed during my initial, second, or third contact with customer support that there was a possibility the charges might not be refundable, I would not have wasted my time making multiple calls and would have utilized the transferred funds differently. Unfortunately, I was led to believe that the issue would ultimately be resolved, and I ended up not only losing the transferred funds but also having to cover the fee for money I never even utilized.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75077
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was scammed by people impersonating ICE and police and I ended up sending 3 cashier 's checks of {$140000.00} to the scammer on XX/XX/XXXX from my bank Bank of America. I filed a claim with BoA on XX/XX/XXXX, claim number XXXX, before the cashier 's checks were deposited on XX/XX/XXXX. Later that day, the checks were deposited. {$53000.00} and {$49000.00} was deposited to two separate accounts at XXXX, {$40000.00} was deposited to XXXX XXXX. XXXX caught the fraud alert and froze the funds XXXX XX/XX/XXXX, {$51000.00} was returned to me from XXXX account where {$53000.00} was deposited. XXXX has stated they hasn't received the {$49000.00} account hold harmless letter. On XX/XX/XXXX, BoA has sent the hold harmless letter to XXXX again regarding the {$49000.00} account. On XX/XX/XXXX, I followed up with XXXX and was told the {$49000.00} was already returned to BoA on XX/XX/XXXX, but BoA is holding this {$49000.00} and hasn't returned to my account yet.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78759
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Managing an account
Subissue: Problem accessing account
Consumer Complaint: 1. Created Online account 2. Sent money to said account ( nearly XXXX ) 3. Account locked. 4. Went to bank, explained. They said, call. 5. Called. Was told online account has been reset. To Pick a new Username. BUT your temporary password will come in the mail in 3-5 business days. 6. Nothing came 7. On the 6th business day, a letter came informing me my account has been closed due to lack of verification. 8. Immediately head to bank to get my money and agree to closing my account. ( At this time I dont want to bank with you already ) 9. Your money has already been sent in the mail via check, and will arrive in 7-10 days. This is two full weeks, I havent had access to my student loans, because Bank of America doesnt know how to protect their customers. If there was any actual concern, ANY follow up email after the temporary password email would be informative and helpful.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90732
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A