Credit card -- Other features, terms, or problems -- Complaint #8410416
Complaint Overview
Complaint ID: 8410416
Company: BMO Bank National Association
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-Issue: Other problem
State: California
ZIP Code: 92653
Date Received: 2024-02-23T12:00:00-05:00
Date Sent to Company: 2024-03-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I have been a customer of XXXXXXXX XXXX XXXXXXXX ( now XXXX ) since XXXX. Have never been late in payment ; have continued to pay annual fees of {$95.00} ; never exceeded my limit. XXXX XXXX informed me that my credit limit has decreased to {$1000.00} due to total amount of credit open. This action has severe negative impact on my credit score which has always been between XXXX. I called the company on XX/XX/XXXX and was told this is the company policy. I asked to escalate the issue. As of this date, despite multiple calls, I have not received a call back. I am quite sure this is part of the company 's new approach of profiling consumers and don't see any basis for the company 's action because of the following reasons : 1 ) nearly perfect credit score ; 2 ) all credit cards are paid in full each month- with the exception of one where I am taking advantage of free interest ; 3 ) annual income is in the range of {$700000.00} to {$1.00} XXXX ; 4 ) liquid assets are above $ XXXX ; 5 ) have no adverse action or information on my credit. At this time, I am asked to pay a {$95.00} annual fee for a credit limit of {$1000.00} which represents nearly 10 % of my credit limit. I have not received any justification for this other than referencing company policy. I have now been on hold for 40 minutes as I complete this claim.
Frequently Asked Questions
What is Complaint #8410416 about?
Complaint #8410416 was filed against BMO Bank National Association regarding Credit card specifically about Other features, terms, or problems. It was received by the CFPB on 2024-02-23T12:00:00-05:00.
How did BMO Bank National Association 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 BMO Bank National Association?
Yes, visit the BMO Bank National Association company profile at readthecomplaint.com/company/bmo-bank-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.