Credit card or prepaid card -- Fees or interest -- Complaint #6234658
Complaint Overview
Complaint ID: 6234658
Company: Bank Of America, National Association
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: New Hampshire
ZIP Code: 038XX
Date Received: 2022-11-22T12:00:00-05:00
Date Sent to Company: 2022-11-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
BOA Business card charged for a XXXX transaction XX/XX/22, processed as cash transaction creating a fee and interest charges as shown on XX/XX/22 statement. Balance paid in full by due dateXXXX but interest charged on cash transaction carried into next month on balance. Charged again in following month XX/XX/22 on unpaid interest as it accrues interest daily. Creates a virtual loop of charges for unpaid charges even though you are paying on time. Only way to end was to direct funds transfer to pay interest charges XX/XX/22. Rate on cash was a whopping 22 %. Its a corrupt scheme to bilk consumers.
Frequently Asked Questions
What is Complaint #6234658 about?
Complaint #6234658 was filed against Bank Of America, National Association regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2022-11-22T12:00:00-05:00.
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.