Credit card -- Other features, terms, or problems -- Complaint #11910919
Bank of America Credit Card Balance Transfer Issue Leads to Account Closure
Complaint Overview
Complaint ID: 11910919
Company: Bank Of America, National Association
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-Issue: Problem with balance transfer
State: California
ZIP Code: 91702
Date Received: 2025-01-31T12:00:00-05:00
Date Sent to Company: 2025-02-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: medium
Problems with balance transfers, especially if they involve complex terms or unexpected fees, can lead to account disputes and potential closure.
Consumer Sentiment: neutral
Topics: Credit card, Balance transfer, Account closure
AI Analysis
CFPB complaint 11910919 was filed against BANK OF AMERICA, NATIONAL ASSOCIATION regarding Credit card (General-purpose credit card or charge card), specifically about "Other features, terms, or problems". A consumer experienced an issue with a balance transfer on their Bank of America general-purpose credit card, which was ultimately closed with an explanation. The complaint was received on January 31, 2025 from California. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should carefully review all terms and conditions associated with balance transfers, including any fees, interest rates, and the impact on their credit score, before proceeding.
Legal Context & Consumer Protection Laws
Credit card agreements are contracts that outline the terms of service, including provisions for account closure, which must be followed by both the issuer and the consumer.
Regulatory Insight
Issuers must provide clear and accurate information regarding balance transfer fees and interest rates to avoid deceptive practices.
Resolution Likelihood
mixed
State-Specific Consumer Protections
In California, consumers have rights regarding credit card agreements and dispute resolution processes.
Industry Comparison
Balance transfer issues are common across the credit card industry, often stemming from misunderstandings of promotional offers or unexpected charges.
Related Issues
Frequently Asked Questions
What is CFPB complaint 11910919 about?
CFPB complaint 11910919 involves Credit card (General-purpose credit card or charge card). The consumer reported an issue with "Other features, terms, or problems", specifically "Problem with balance transfer". This complaint was filed against BANK OF AMERICA, NATIONAL ASSOCIATION on January 31, 2025.
Which company is complaint 11910919 filed against?
Complaint 11910919 was filed against BANK OF AMERICA, NATIONAL ASSOCIATION. You can view all complaints against this company on their profile page at /company/bank-of-america-national-association.
What was the company's response to complaint 11910919?
BANK OF AMERICA, NATIONAL ASSOCIATION responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 11910919 filed?
Complaint 11910919 was received by the CFPB on January 31, 2025. It was sent to BANK OF AMERICA, NATIONAL ASSOCIATION on February 3, 2025.
What state was complaint 11910919 filed from?
Complaint 11910919 was filed from California. You can view all complaints from this state at /state/CA.
Was the consumer satisfied with the resolution of complaint 11910919?
Dispute information is not available for complaint 11910919.
What product category is complaint 11910919 about?
Complaint 11910919 is categorized under "Credit card", specifically "General-purpose credit card or charge card". This is one of the product categories tracked by the CFPB.
How was complaint 11910919 submitted?
Complaint 11910919 was submitted via Referral. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 11910919?
Credit card agreements are contracts that outline the terms of service, including provisions for account closure, which must be followed by both the issuer and the consumer. This relates to a Credit card complaint against BANK OF AMERICA, NATIONAL ASSOCIATION involving "Other features, terms, or problems".
How likely is complaint 11910919 to be resolved?
Resolution likelihood: mixed. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 11910919?
This complaint is rated as medium risk. Problems with balance transfers, especially if they involve complex terms or unexpected fees, can lead to account disputes and potential closure.
What regulatory actions apply to complaint 11910919?
Issuers must provide clear and accurate information regarding balance transfer fees and interest rates to avoid deceptive practices. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit card industry.
What should the consumer do about complaint 11910919?
Consumers should carefully review all terms and conditions associated with balance transfers, including any fees, interest rates, and the impact on their credit score, before proceeding.
Are there state-specific protections for complaint 11910919?
In California, consumers have rights regarding credit card agreements and dispute resolution processes. This complaint was filed from California.
How does complaint 11910919 compare to industry norms?
Balance transfer issues are common across the credit card industry, often stemming from misunderstandings of promotional offers or unexpected charges.
What specific explanation was provided by Bank of America for the account closure?
The provided data indicates the account was 'Closed with explanation,' but the specific reason for closure was not detailed in this summary.
Were there any fees or unexpected charges associated with the balance transfer that contributed to the problem?
The data does not specify the exact nature of the problem with the balance transfer, so it's unclear if fees or unexpected charges were involved.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.