Billing disputes and interest rates top list of credit card complaints collected by new consumer watchdog
- Blog Post by: Kara McGuire
- December 2, 2011 - 1:06 PM
The Consumer Financial Protection Bureau, a watchdog agency created in the wake of the financial crisis, collects consumer complaints on a variety of financial matters.
The agency just released a report on the consumer credit card complaints collected during three months this year.
Here is a breakdown of the top 10 areas of complaint:
- Billing disputes
- APR or interest rates
- ID theft, fraud, embezzlement
- Closing or cancelling account
- Credit card payments
- Billing statements
- Collection practices
- Credit reporting
- Advertising and marketing
Of the 5,074 credit card complaints received, the bureau passed the vast majority along to the credit card issuer. Three out of four complaints were reported as either partially or fully resolved. Most consumers did not dispute the credit card issuer’s resolution.
To file a complaint with the bureau, visit: www.consumerfinance.gov
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