The Consumer Financial Protection Bureau (CFPB) released a report today on the first three months of collecting consumer complaint information about credit card issues.
Of the 5,074 complaints received by the CFPB, 83.8$ were forwarded to the credit card issuer.
Of those forwarded to the credit card issuers, 74% were reported as a full or partial resolution. 71% of the consumers did not dispute the reported resolution.
The top ten most common identified complaints were:
- Billing Disputes
- APR or Interest Rate
- Identity Theft / Fraud
- Closing or Canceling an Account
- Other Fee
- Credit Card Payment / Debt Protection
- Billing Statement
- Collection Practices
- Credit Reporting
- Advertising and Marketing
Consumers can submit a credit card complaint to the CFPB online here.CFPB Releases Credit Card Complaint Report by Steve Rhode