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.

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