Credit card -- Other features, terms, or problems -- Complaint #11917572
Complaint Overview
Complaint ID: 11917572
Company: Block, INC.
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-Issue: Other problem
State: Florida
ZIP Code: 34212
Date Received: 2025-02-03T12:00:00-05:00
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: Web
Consumer Narrative
I was using square as a credit card processor. I did 5 transactions, no charge backs, no issues what so ever, I recieved an email that I may have a reserve, so I called two seperate times to have this explained and they said ignore it it will not apply to my account, so the following day I processed XXXX payment ( I am in construction and this was a materials deposit for a very large job ) and they held XXXX $ of it for 180 days. They told me 30 % of all my funds going forward now will be held for 180 days inaccessible until release. What margins do they think I operate at where this wouldnt essentially XXXX me and the clients enough money to purchase his materials for the bathroom. This caused five weeks of delays in starting the project as I had to take a loan out to purchase the materials HE HAD ALREADY PAID for. They told me to close the account deactivate it and it would release. THIS WAS ANOTHER LIE. I still have 52 days until release of funds. Many others in my industry complain of this practice. FUNNY STORY. They offer square lending. Wonder whos money they are using to fund that.
Frequently Asked Questions
What is Complaint #11917572 about?
Complaint #11917572 was filed against Block, INC. regarding Credit card specifically about Other features, terms, or problems. It was received by the CFPB on 2025-02-03T12:00:00-05:00.
How did Block, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card) and describe your issue in detail.
Can I see other complaints against Block, INC.?
Yes, visit the Block, INC. company profile at readthecomplaint.com/company/block-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.