Consumer complaint received 2020-07-25
Company: U.S. BANCORP
State: MS
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
On XX/XX/2020, I sent the following letter to Fidelitys Office of the President regarding the closure of my credit card account : My name is XXXX XXXX, and I was recently fortunate enough to be approved for Fidelitys Rewards Visa Signature credit card. I am absolutely thrilled. I felt that at my other bank, my priorities werent being considered and that their rates were too high and wait times to talk to someone too long. Meanwhile, with Fidelity, Im just in love with how I can view not just one account, but my investment, credit card, and other accounts in just one online profile! That really takes the hassle out of my day when I can see my finance accounts in one place. And I shouldnt even get started on your brokerage investment platform, because I could just go on and on about all the amazing gadgets, tools, and products available to me! And with the credit card, Im somehow getting 2 % cashback ( I dont know how you guys are able to do that, but thank you! ), I have an interest rate way lower than I used to get at my old bank, and I read that you can actually have your cashback rewards redeemed directly into your fidelity brokerage account! I dont think it could get any better than this because Fidelitys terms are perfect. But I have encountered a pretty big problem, which is why I write to you all. 

So, this is what happened and this is my understanding of the issue we have going on. I made a large purchase at XXXX ( I think on XX/XX/XXXX ) because I had to buy a whole bunch of household things ( like this one cute microwave, a comfy tent to go camping in my states wilderness parks, and a tow hitch so I can finally tow a trailer on road trips, etc. ). Thing is, initially my card got declined, and I received a call to verify the transaction. I figured that made perfect sense. I mean hey, my account with Fidelity is  new, Im making a big purchase, and your fraud team just needs to verify its me whos making this huge purchase. So, I talked to Fidelitys card team on the phone and was able to clear it up. Then, ( either the same day or the next day, I cant remember ) I again had to make a big purchase but at XXXX XXXX. This time I had to pay for some of my prescriptions and over the counter medications, as well as a big stock of health products ( like the shampoo I use ) since Ive been running low on everything since a few weeks after COVID hit us hard in Mississippi and around the country. I also had to verify this transaction too, so I spoke with another Fidelity team member on the phone and everything seemed like it was alright. But then I was transferred to a gentleman in a department I cant remember the name of ( sorry! : ( I know that would help ) and he told me there would have to be a manual review of my account. I figured this was alright too, though he did let me know I couldnt buy my stuff at XXXX at that time. It was a bummer, but I thought it was all reasonable and justified given the large purchases and me being new to you all at Fidelity. However, about a week later I called back in to check on my account ( I had tried to buy lunch and something on XXXX but it kept getting declined ). I found out that my account had been permanently closed because I was a suspected victim of fraud. To be frank with you guys, my heart nearly sank. 

Over the span of that conversation, I felt like I kept getting more and more bad news. I say that because it seemed like your credit card team just needed to verify my receipts at XXXX and XXXX ( or at least the attempted one at XXXX or the receipt from the other card at my old bank I had to use to pay for the medication ). Im not really sure, but it kind of sounded like the fraud people wanted to see that I wasnt buying anything like gift cards and getting trapped into a scam. The problem was, I didnt keep either of those receipts XXXX and against my Moms advice, too-I definitely shouldve listed to her all those times she told me to save them! ), so I would have to see if XXXX or XXXX could reprint them. By the way, on a little side note-I actually extremely appreciate Fidelity having my back with this stuff and verifying transactions with me to make sure Im not a victim of any kind of credit card fraud. Ive had family members fall victim to identity theft and from what theyve told me, it was simply unbearable. Furthermore, I dont think my old bank really cared about security and watching out for its customers at all. One time I called in advance because I had to buy an expensive generator and thought they might flag it, and the person on the phone said it wasnt necessary because their system lets just about anything through. Isnt that crazy! Anyways, they were a pain to deal with. 

But back to my issue at XXXX and XXXX. I was again hopeful I could get all this sorted out and be able to reap the benefits of being with Fidelity and their great terms until both XXXX and XXXX said they would not print any receipts or copies of receipts for me. It really made no sense. I offered to show my ID, to show my Fidelity credit card to them, but with no luck. I called both of their customer service peoples and went in person to the stores but always got the same vague response about security or customer privacy when I asked. I dont know what the big deal is seeing as how theyre receipts for my purchases, you know? Nevertheless, they wouldnt give me anything. 

Everything puzzled me and I had no idea what to do, which was why I gave you all at Fidelity a call today ( XX/XX/XXXX ) to see what else I could do to help Fidelity and unfreeze/reopen my account. I spoke with a woman who unfortunately said that Fidelity really needs those receipts to make sure Im not a fraud victim. It was like I was backed into a corner with nowhere to go. And I definitely didnt want to go back to my old bank, thats for sure. But the wonderful lady I spoke with said I actually could write to Fidelitys high up Office of the President to request some kind of appeal so that I could use my card again. From my understanding, she said I would have to do what Im doing now as this would be my only recourse/avenue for trying to maintain my card account with Fidelity. So thats exactly what Im doing now, and what Im trying to accomplish. The thought of me going back to my old bank fills me with nightmares, let alone knowing that I found an amazing financial institution like Fidelity that cares about and watches out for me and I lost my relationship with them because of a big confusing mess. Therefore, I am respectfully asking you all at Fidelitys Office of the President to look into my file/account to see if I can have my account closure appealed. I guess thats all there is I have to say right now, but lastly, I want to wish your executive office and all those at Fidelity good health in these crazy times right now. I know Im finding immense comfort in staying close to my family as we have to stay inside and face a global pandemic together. Thank you for reading my letter and thank you for your time ( Im sure you guys are swamped right now! ). Thank you again. 

Best Regards, XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX Today, XX/XX/2020, I received the attached letter in response. However, I was expecting more information in response to my complex situation than just mentioning a short paragraph that allows Fidelity to close my account at any time. I tried to call in today at XXXX XXXX CT, but the Supervisor ( I believe in the general customer service department ) I spoke with couldnt or wouldnt give me any more information either. Im submitting this complaint because the letter I received in response to mine clearly didnt detail what happened and why Fidelity closed my account.

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