Consumer complaint received 2016-07-28
Company: U.S. BANCORP
State: MN
Product: Credit card
Issue: Balance transfer fee

Complaint:
On XXXX XXXX, 2016 I contacted US Bank by phone after getting notice of a missed payment on my credit card. I had set up an automatic payment for the account 3 weeks earlier on the bank 's website, but they did n't process the payment in time & then blamed me for the missed payment. They reduced my line of credit on the account and tried to charge me a late fee. I objected, stating that the error was their 's, not mine. The woman with whom I spoke, agreed to waive the late fee & to reinstate my previous line of credit. I shortly received a letter, stating that I would have to reapply if I wanted the higher limit that I previously had. So, the woman lied to me, & did not reinstate my line of credit. I refused to reapply for the higher line of credit that I already had, prior to their failure to timely process my automatic payment. 
During the XXXX/XXXX/16 call, I also inquired about balance transfer offers that might be available on my credit card accounts. The representative checked & then offered me a balance transfer with a 3 % fee & a 0 % interest rate for 17 months. I accepted the offer & requested a transfer to another credit card of {$13000.00}, an amount which would keep my balance below my credit limit after application of the 3 % fee. 
On XXXX/XXXX/16, I phoned US Bank again, after receiving notice that a transfer of {$12000.00} was made to the other company, rather than the {$13000.00} agreed to. The representative refused to adjust the transfer, stating that 92 % of my credit limit was the maximum amount allowed. I asked why they stated my credit limit as {$14000.00} if I could only borrow 92 % of that amount. She had no explanation except to say " that is the rule ''. I also again requested that the credit limit on my other account with them be reinstated to its previous, higher limit, which was unfairly reduced, due to the bank 's payment processing error, but she said I 'd have to reapply for a higher limit. I refused. 
On XXXX/XXXX/16 I called again & spoke to XXXX, after receiving my bank statement, noting that they had applied a 14.24 % interest rate and a 3 % fee to the {$12000.00} balance transfer. XXXX insisted that there were no 0 % offers available to me, & that the original transfer disclosure was read to me during the transaction request, stating the 14.24 % rate and the 3 % fee. I disagreed & requested a supervisor. She transferred me to XXXX, whereupon I reiterated the transaction history. He refused to believe my story, so I requested a review of the recorded call. He reluctantly agreed & said he 'd call back in XXXX10 days. 
On XXXX/XXXX/16, I called again & spoke to XXXX, a supervisor who said they had n't yet retrieved the record of my XXXX/XXXX/16 call. I agreed to wait another week. 
On XXXX/XXXX/16, I spoke to XXXX, manager of card services, who said the issue was still under review, & that it 's taking longer than usual due to many review requests. I noted that " many review requests '' must mean many complaining customers, & stated I would wait until Monday XXXX/XXXX/16 before registering a complaint with the CFPB. 
On XXXX/XXXX/16 XXXX called from US Bank. She said the review of my XXXX/XXXX/16 phone call had revealed that I had, in fact, been offered the 0 % interest rate, & that no 14.24 % rate had been disclosed. She stated that the bank would honor the original 0 % offer. I would be credited with any interest that had accrued, & as compensation for my trouble, they would waive the {$380.00} balance transfer fee. She noted that the corrections would n't be made until my next statement. 
Today, XXXX/XXXX/16, I logged into my US Bank account to review transactions, the statement cycle having ended. I was appalled to find the balance transfer fee had been reversed, only to be charged again. I called & spoke to manager XXXX, who said they never waive transaction fees. I requested review of XXXX 's XXXX call to determine if she offered the waiver. XXXX agreed to review the call & respond.

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