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CFPB Releases Credit Card Complaint Report

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:

  1. Billing Disputes
  2. APR or Interest Rate
  3. Identity Theft / Fraud
  4. Closing or Canceling an Account
  5. Other Fee
  6. Credit Card Payment / Debt Protection
  7. Billing Statement
  8. Collection Practices
  9. Credit Reporting
  10. Advertising and Marketing

Consumers can submit a credit card complaint to the CFPB online here.

CFPB Releases Credit Card Complaint Report
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Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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