Credit card -- Closing your account -- Complaint #8906403
Discover Bank Closes Customer's Credit Card Account
Complaint Overview
Complaint ID: 8906403
Company: Discover Bank
Product: Credit card
Sub-Product: General-purpose credit card or charge card
Issue: Closing your account
Sub-Issue: Company closed your account
State: Texas
ZIP Code: 77705
Date Received: 2024-04-30T12:00:00-05:00
Date Sent to Company: 2024-05-01T12:00:00-05:00
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 reason was provided to the consumer.
Consumer Sentiment: neutral
Topics: Credit card account closure, Discover Bank
AI Analysis
CFPB complaint 8906403 was filed against DISCOVER BANK regarding Credit card (General-purpose credit card or charge card), specifically about "Closing your account". A Discover Bank customer in Texas had their general-purpose credit card account closed by the company with an explanation, and the issue was referred. The complaint was received on April 30, 2024 from Texas. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should review the explanation provided by Discover Bank for the account closure and understand their rights regarding credit account terminations.
Legal Context & Consumer Protection Laws
Credit card companies have the right to close accounts under certain conditions, often outlined in the cardholder agreement.
Regulatory Insight
This referral indicates the complaint may require further investigation or action by another entity.
Resolution Likelihood
unlikely
State-Specific Consumer Protections
In Texas, consumers have specific rights regarding credit account closures and disputes.
Industry Comparison
Credit card issuers frequently close accounts due to various factors, including risk management or changes in consumer behavior.
Related Issues
Frequently Asked Questions
What is CFPB complaint 8906403 about?
CFPB complaint 8906403 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 DISCOVER BANK on April 30, 2024.
Which company is complaint 8906403 filed against?
Complaint 8906403 was filed against DISCOVER BANK. You can view all complaints against this company on their profile page at /company/discover-bank.
What was the company's response to complaint 8906403?
DISCOVER BANK responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 8906403 filed?
Complaint 8906403 was received by the CFPB on April 30, 2024. It was sent to DISCOVER BANK on May 1, 2024.
What state was complaint 8906403 filed from?
Complaint 8906403 was filed from Texas. You can view all complaints from this state at /state/TX.
Was the consumer satisfied with the resolution of complaint 8906403?
Dispute information is not available for complaint 8906403.
What product category is complaint 8906403 about?
Complaint 8906403 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 8906403 submitted?
Complaint 8906403 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 8906403?
Credit card companies have the right to close accounts under certain conditions, often outlined in the cardholder agreement. This relates to a Credit card complaint against DISCOVER BANK involving "Closing your account".
How likely is complaint 8906403 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 8906403?
This complaint is rated as low risk. The risk is low as the account was closed with an explanation, suggesting a reason was provided to the consumer.
What regulatory actions apply to complaint 8906403?
This referral indicates the complaint may require further investigation or action by another entity. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit card industry.
What should the consumer do about complaint 8906403?
Consumers should review the explanation provided by Discover Bank for the account closure and understand their rights regarding credit account terminations.
Are there state-specific protections for complaint 8906403?
In Texas, consumers have specific rights regarding credit account closures and disputes. This complaint was filed from Texas.
How does complaint 8906403 compare to industry norms?
Credit card issuers frequently close accounts due to various factors, including risk management or changes in consumer behavior.
What are the typical reasons a credit card company might close an account?
Common reasons include excessive late payments, high credit utilization, suspected fraud, or changes in the issuer's risk assessment.
What does 'closed with explanation' mean in this context?
It means the bank provided a specific reason for closing the account, which could range from policy violations to risk-based decisions.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.