Credit card -- Closing your account -- Complaint #19197056
Bank of America Closes Customer's Credit Card Account
Complaint Overview
Complaint ID: 19197056
Company: Bank Of America, National Association
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Closing your account
Sub-Issue: Company closed your account
State: Missouri
ZIP Code: 63146
Date Received: 2026-01-31T12:00:00-05:00
Date Sent to Company: 2026-02-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: low
The risk is low as the account was closed with an explanation, suggesting a business decision rather than a systemic issue.
Consumer Sentiment: neutral
Topics: Credit card, Account closure
AI Analysis
CFPB complaint 19197056 was filed against BANK OF AMERICA, NATIONAL ASSOCIATION regarding Credit card (General-purpose credit card or charge card), specifically about "Closing your account". A Bank of America customer had their general-purpose credit card account closed by the company with an explanation, and the complaint was referred. The complaint was received on January 31, 2026 from Missouri. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should understand the terms and conditions of their credit card agreement, as account closures can occur for various reasons outlined by the issuer.
Legal Context & Consumer Protection Laws
Credit card issuers have the right to close accounts, often with prior notice, based on their internal policies and risk assessments.
Regulatory Insight
Issuers may close accounts due to changes in creditworthiness, excessive use, or other factors that increase their risk.
Resolution Likelihood
unlikely
State-Specific Consumer Protections
The complaint originated in Missouri, but the specific state context does not significantly alter the general nature of credit card account closures.
Industry Comparison
Credit card companies frequently close accounts as part of their risk management strategies, a common practice across the industry.
Related Issues
Frequently Asked Questions
What is CFPB complaint 19197056 about?
CFPB complaint 19197056 involves Credit card (General-purpose credit card or charge card). The consumer reported an issue with "Closing your account", specifically "Company closed your account". This complaint was filed against BANK OF AMERICA, NATIONAL ASSOCIATION on January 31, 2026.
Which company is complaint 19197056 filed against?
Complaint 19197056 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 19197056?
BANK OF AMERICA, NATIONAL ASSOCIATION responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 19197056 filed?
Complaint 19197056 was received by the CFPB on January 31, 2026. It was sent to BANK OF AMERICA, NATIONAL ASSOCIATION on February 3, 2026.
What state was complaint 19197056 filed from?
Complaint 19197056 was filed from Missouri. You can view all complaints from this state at /state/MO.
Was the consumer satisfied with the resolution of complaint 19197056?
Dispute information is not available for complaint 19197056.
What product category is complaint 19197056 about?
Complaint 19197056 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 19197056 submitted?
Complaint 19197056 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 19197056?
Credit card issuers have the right to close accounts, often with prior notice, based on their internal policies and risk assessments. This relates to a Credit card complaint against BANK OF AMERICA, NATIONAL ASSOCIATION involving "Closing your account".
How likely is complaint 19197056 to be resolved?
Resolution likelihood: unlikely. 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 19197056?
This complaint is rated as low risk. The risk is low as the account was closed with an explanation, suggesting a business decision rather than a systemic issue.
What regulatory actions apply to complaint 19197056?
Issuers may close accounts due to changes in creditworthiness, excessive use, or other factors that increase their risk. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit card industry.
What should the consumer do about complaint 19197056?
Consumers should understand the terms and conditions of their credit card agreement, as account closures can occur for various reasons outlined by the issuer.
Are there state-specific protections for complaint 19197056?
The complaint originated in Missouri, but the specific state context does not significantly alter the general nature of credit card account closures. This complaint was filed from Missouri.
How does complaint 19197056 compare to industry norms?
Credit card companies frequently close accounts as part of their risk management strategies, a common practice across the industry.
What are common reasons a credit card company might close an account?
Common reasons include a decline in the cardholder's credit score, excessive utilization of the credit limit, suspected fraudulent activity, or violation of the cardholder agreement.
Can a credit card company close an account without warning?
While many companies provide notice, some cardholder agreements allow for account closure without prior warning, especially in cases of suspected fraud or severe risk.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.