Consumer complaint received 2023-03-24
Company: TRUIST FINANCIAL CORPORATION
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with balance transfer

Complaint:
I applied for this Credit card on XX/XX/23 because they offered 0 % interest for 18 months. I wanted to transfer the balance from a high interest rate card to this new one. I was approved right away for a {$5500.00} credit line. I completed the additional information they requested including the account number, name of the other financial institution, and amount I wanted to transfer. The transfer was initiated two days later on XX/XX/23 along with the balance transfer fee of 3 % of the amount transferred and the card was debited by those amounts. I received the card in about 5 business days along with the consumer card agreement. I had also applied for a 0 % Credit card with my credit union at about the same time and was approved for that one as well. Again, the plan was to transfer high interest balances from other cards to the 0 % cards. I reviewed the card agreements on both cards. The standard language was that it could take up to 30 days to complete the balance transfer. After about 10 business days from XX/XX/23 I checked to see the progress of the transfers. On the card with the XXXX XXXX, I transferred balances from 2 cards on to one and those transfers were complete. The card with the bank ( the one Im complaining about ) the process was still not complete so I decided to wait another XXXX business days. At that point I decided to call the bank to see what was taking so long. The other balance transfers were done and over with. Over the course of XXXX phone calls I was told I had to wait the full 30 days before they could provide me any information. I explained to them I was only calling early because I had completed XXXX balance transfers with another institution in the time I was still waiting for theirs to be done. I was told because they mailed their check to the institution I was transferring the balance from I had to wait the full 30 days. I was told it was bank policy not to do the transfer electronically. So I waited the full 30 days and contacted them again. After another XXXX phone calls it was determined that they mailed the check to a bogus address! They gave me the option of canceling the transfer and stopping the check. I agreed as long as they also refunded the transfer fee, which they did. I had to wait 3 business days before that transaction was complete. On XX/XX/23, called the bank back because I still wanted to do the transfer and I spoke to the other financial institution and got the correct mailing address. I tried to complete the transfer on the banks mobile app and on the web but there was no provision to submit the correct address so I had to call again! I gave all of the pertinent information to the customer service rep thinking this was it. On XX/XX/23 I checked my card account and I havent been debited for the amount of the transfer or the fee. So I called again! The customer rep wasnt forthcoming with info as to what was the delay. By the way, I had to provide the rep with my name, the account number, and the last four digits of my ssn in order to proceed. I had to do that on every call. After a few minutes of going back and forth, I asked the rep what amount did he have as the amount I was transferring. He said he couldnt tell me. He said I can tell him and hed verify it. I said no, Ive given you my info just tell me what amount you have on your screen. He refused. I said the word XXXX and he immediately started clutching his pearls saying I wont stand for that kind of language. At that point I asked for a supervisor because after 25 minutes of this running around I had had enough. After about 5 minutes I get the supervisor on the line. She asks how Im doing and I say not good. She says well thatll change by the end of this call! After an eternity waiting for her screen to load, her line went dead. Of course theres no way theyre calling me back and now Im too frustrated to go through this again over the phone. The 0 % offer is for a limited amount of time and theyre just letting the clock run out on me. My only recourse is to apply for yet another 0 % card, and just let this just sit. After the fact I looked online and Im not the only person to have a problem with this financial institution.

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 explanation