Consumer complaint received 2021-10-25
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
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 rewards from credit card

Complaint:
To Whom It May Concern, I have been a XXXX XXXX XXXX Member of Bank of America since XX/XX/XXXX. Being a XXXX XXXX XXXX Member, I have always been provided a 75 % Total Cash Rewards Bonus when redeeming Cash Rewards. This is simply done by clicking on Redeem Cash Rewards Button on the Reward Tab within the Bank of America website. This is the way my Bank of America Cash Rewards Visa XXXX XXXX Credit Card ( ending in XXXX ) works. 

Having earned {$3000.00} in my Total Cash Rewards Bonus, I wanted to cash out my Rewards Cash and to make an expensive XXXX XXXX XXXX XXXX. Prior to purchasing the computer, I called Bank of America Cash Rewards Dept. and spoke to XXXX on XX/XX/XXXX to confirm the 75 % Cash Out Reward which would be applied to the {$3000.00} making it {$4500.00}. Note : I failed to do the math properly and only calculated a 50 % Cash Out Bonus to be redeemed at {$4500.00}. I then asked if it made a difference as to how I applied the Cash Rewards Bonus redemption, that being to my Checkings, Savings or Credit Card. She stated it did not make a difference how I redeemed the points and that I should receive the additional {$1500.00} cash rewards redemption. 

After XXXX confirmed the 75 % Bonus would be applied to my credit card, I clicked on the Redeem Cash Rewards of {$3000.00} and applied it to my Credit Card. I waited 24-48 hours to check my credit card balance and all I saw was {$3000.00} deducted from my account summary, not the {$4500.00} which should have been {$5200.00} as a 75 % cash Out Redemption total. I never saw the Cash Rewards Bonus of {$1500.00} ( 50 % Redemption ) or {$2200.00} ( 75 % Redemption ), I called up Bank of America several days later and they stated the plan and that the 75 % cash plan no longer gets applied when checking out. I went ahead with the purchase of the XXXX XXXX the very same day for {$4200.00} based on the conversation and confirmation that XXXX provided. She providing incorrect information which had me spend far more than I wanted to spend and I lost out on a Cash Rewards Bonus of {$1500.00} ( 50 % Redemption ) or {$2200.00} ( 75 % Redemption ). 

Having pursued this further, I spoke to XXXX and XXXX ( supervisor ) in Bank of America Bonus Rewards Dept. on XX/XX/XXXX. They confirmed that XXXX stated on a recorded line that I was entitle to the 75 % cash out bonus. They stated she provided the incorrect information and would get reprimanded. Well, reprimanding XXXX does not get me the {$1500.00} ( 50 % Redemption ) or {$2200.00} ( 75 % Redemption ) that I was told I was entitled to. I would like to get the 50 % or 75 redemption. 

Attached please find some 75 % Cash Out Redemption paperwork from Bank of America. 

Rewards Program 3 % on Online Shopping 2 % at grocery stores and wholesale clubs 1 % on all other purchases {$3000.00} Cash Rewards Value as of XX/XX/XXXX Cash Rewards 75 % Redemption : {$2200.00} ( Total : {$5200.00} ) Cash Rewards 50 % Redemption : {$1500.00} ( Total : {$4500.00} ) Sincerely, XXXX XXXX

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