Credit card or prepaid card -- Fees or interest -- Complaint #5702309
Complaint Overview
Complaint ID: 5702309
Company: Truist Financial Corporation
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-Issue: Problem with fees
State: Maryland
ZIP Code: 20817
Date Received: 2022-06-23T12:00:00-05:00
Date Sent to Company: 2022-06-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
My wife, who handled our finances, passed away very recently. In her absence I have been acquainting myself with our banking situation, among other things. When I open our Bank 's website ( Truist Bank ) I am given three figures : Our checking account balance, our " Ready Line '' balance, both of which are fine, and our Visa card balance, which according to their statement is $ XXXX. Since I am very careful about always maintaining a positive balance in my credit card account, I did not understand what the {$15000.00} figure is all about, so I called the bank. They explained that it represented the accumulated fees from each use of my card, something that is not explained in any of their literature. Further questioning revealed that their fee for each transaction was between 14 % and 15 % of each trans-action. There is no mention of the size of their fee in their website. I said " If I owe that money I guess I will have to begin to pay it down monthly. '' " Oh no, '' she said, " We do not accept installment payments of this amount. It must be paid in full! '' The above information is the reason for my complaint. First, there is no information explaining how the bank calculates their fee, nor the amount of the fee. And Finally, I am a XXXX widower, living for the most part on social security. There is no conceivable way that I can come up with $! XXXX. It also amazes me that this fee has been accumulating over a very, very long period and the bank has never indicated that it is overdue. Moreover, I find it interesting that there is no way in their system to transfer any funds into that account.
Frequently Asked Questions
What is Complaint #5702309 about?
Complaint #5702309 was filed against Truist Financial Corporation regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2022-06-23T12:00:00-05:00.
How did Truist Financial Corporation 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 or prepaid card) and describe your issue in detail.
Can I see other complaints against Truist Financial Corporation?
Yes, visit the Truist Financial Corporation company profile at readthecomplaint.com/company/truist-financial-corporation 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.