Consumer complaint received 2023-06-28
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CT
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Charged too much interest

Complaint:
To Whom it May Concern, I opened a Bank of America credit card account XXXX on XX/XX/XXXX. 
In XX/XX/XXXX, Bank of America sent me the attached letter and description of Amendments to my Credit Card agreement, including an increase to the annual percentage rate. 
Upon reviewing the information, I found that I had the ability to reject the amendment terms by following the instructions provided. 
Subsequently, I called Bank of America to notify them of my rejection of amended terms. I confirmed that my rate of XXXX would be locked in if I discontinued use of the credit card. 
I received the attached letter dated XX/XX/XXXX, confirming acceptance of my rejection. 
Since that time, until XXXX of XXXX only account activity was payments. 
I complied with all the terms and conditions set forth in the correspondence sent by Bank of America and was never late making monthly payments. 
In XX/XX/XXXX, I noticed an increase to my monthly minimum payment due. I contacted Bank of America and was told the higher minimum payment amount was due to an annual percentage rate increase to my account. I mentioned the letter from XXXX, but the Bank of America representative said they have no record of it. 

My remaining balance was paid as follows : {$13000.00} was paid on XX/XX/XXXX Residual interest of {$46.00} was paid on XX/XX/XXXX I recently found the letters from XX/XX/XXXX and called Bank of America. The customer service representative advised me to bring the letters to my local Bank of America branch in XXXX, CT. 
The bank representative used an internal service number and opened service case # XXXX. 
To date, I have not received any communication from Bank of America regarding this matter. 
On XX/XX/XXXX, I again called Bank of America. I was told that account records and statements older than 7 years are archived, however, the representative could not retrieve them. I asked who could retrieve them and was put on hold. The line then disconnected. 
I again called Bank of America on XX/XX/XXXX to get specific detail on the annual percentage rate increase history of my account. This is not a complete list due to ageing of statements, archiving and the BOA representative potentially missing dates as she reviewed my account information. 

XXXX XXXX- XXXX variable XXXX XXXX- XXXX variable XXXX XXXX- XXXX XXXX variable XXXX XXXX- XXXX variable XXXX XXXX- XXXX variable XXXX XXXX- XXXX variable XXXX XXXX- XXXX variable XXXX XXXX-XXXX XXXXariable XXXX XXXX- XXXX variable XXXX XXXX- XXXX variable I ask that you pursue this matter with Bank of America on my behalf. Based on the correspondence, it is my belief that they willfully breached my contract with them and overcharged interest since XXXX. I ask that you request copies of all statements since account inception to review and I respectfully request all overpayment refunded to me with interest. 
I can not help but think other Bank of America customers received this letter as well and took action to reject increase and may have had a similar experience. 
I appreciate your assistance regarding this matter.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief