Credit card or prepaid card -- Problem when making payments -- Complaint #4785991
Complaint Overview
Complaint ID: 4785991
Company: Bank Of America, National Association
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-Issue: Problem during payment process
State: Washington
ZIP Code: 986XX
Date Received: 2021-10-06T12:00:00-05:00
Date Sent to Company: 2021-10-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have auto-pay enabled on this account. This to ensure that if I have a balance, and do not make a payment by the due date I am sure I am following the terms of the contract, and will pay the contractually obligated interest for the period of time I carry a balance. However, if the balance is paid in full, Bank of America will still auto-deduct the amount of the minimum amount due, even if there is a XXXX balance. Thus, putting a credit balance on the account, which requires manual intervention to get the money returned. I feel that this is an easy problem to solve. If the account balance is XXXX, then no payment should be deducted. A very simple aspect of the transaction logic. Bank of America is then holding the minimum amount due, not paying any interest, and there is no contract with me to " loan '' Bank of America money during the period they leverage the credit balance. This likely occurs across a large swath of their customer base, and is unfair advantage to the consumer, but a benefit to the bank. This may even fall into the category of unjust enrichment in the situation, as the bank receives something and a benefit and I receive no benefit in return. I want Bank of America to stop deducting auto-pay minimum amounts if there is no balance due on the account at the time the statement closes and the auto-pay would be calculated. This is the fair way to address the situation.
Frequently Asked Questions
What is Complaint #4785991 about?
Complaint #4785991 was filed against Bank Of America, National Association regarding Credit card or prepaid card specifically about Problem when making payments. It was received by the CFPB on 2021-10-06T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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 or prepaid card) and describe your issue in detail.
Can I see other complaints against Bank Of America, National Association?
Yes, visit the Bank Of America, National Association company profile at readthecomplaint.com/company/bank-of-america-national-association 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.