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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.

Sincerely,


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Do you have a question you'd like to ask me for free? Go ahead and click here.

Damon Day - Pro Debt Coach

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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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