Product: Credit card

Dear Sir/Madam, I am filing a formal complaint against Lowes for their deceptive credit card practices, failure to address my previous concerns, imposition of unjustified charges, and the abrupt closure of my account despite my timely payments. Their actions have caused significant financial harm and are in violation of both federal and state consumer protection laws.

Background and Initial Complaint : When I opened my Lowes credit card account, I was informed that no interest would accrue during the promotional period, and that once the term expired, interest would begin accruing moving forward. I was never told that deferred interest would be retroactively applied if the balance was not paid in full by the end of the promotional period. 

Based on this understanding, I have made consistent monthly payments over the last XXXX years. However, XXXX months ago, I was unexpectedly charged {$1500.00} in deferred interest. I immediately contacted Lowes to dispute these charges, but despite my complaint, Lowes failed to take any corrective action.

Additional Charges and Account Closure : Recently, I reviewed my account and was shocked to discover that, instead of addressing the issue, Lowes has now added another {$4900.00} in charges to my account. This is in addition to the {$1500.00} they charged me XXXX months ago and the ongoing monthly interest charges. To make matters worse, despite my consistent and timely payments, Lowes has closed my account without any notice or explanation.

Legal Violations : Truth in Lending Act ( TILA ) Violations : Lowes failure to clearly disclose the deferred interest terms and their imposition of retroactive charges violates TILA, which requires transparency in credit terms.

Deceptive Practices Under the FTC Act : Lowes conductimposing hidden charges, closing my account despite a perfect payment history, and failing to address my previous complaintconstitutes deceptive and unfair business practices, in violation of the FTC Act.

Fair Credit Billing Act Violations : Lowes has violated the Fair Credit Billing Act by failing to provide accurate billing disclosures and by continuing to apply unjustified charges, which were neither disclosed nor agreed upon. 
Requested Actions : I request that the CFPB take the following actions : Immediate Reversal of All Charges : I demand the reversal of the {$1500.00} deferred interest charge, the {$4900.00} recently added to my account, and any additional monthly interest charges that have been unjustifiably applied.

Investigation into Lowes Billing Practices : I urge the CFPB to investigate Lowes misleading and deceptive billing practices, particularly regarding the retroactive application of deferred interest and unjustified charges.

Restoration of My Account and Fair Treatment : I request that my account be reinstated to its previous status, as the account closure was unjustified given my history of timely payments.

I have attached all relevant documents, including previous correspondence with Lowes, account statements, and records of my original complaint. The financial burden imposed by these unfair charges, along with the unexpected account closure, has caused me significant distress, and I am seeking immediate resolution. 

Thank you for your prompt attention to this matter. 

Sincerely,