Consumer complaint received 2019-01-08
Company: BARCLAYS BANK DELAWARE
State: KS
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Unexpected increase in interest rate

Complaint:
On XX/XX/XXXX, I submitted complaint # XXXX against Barclay Bank regarding a credit card I currently hold with them that was originally held by XXXX XXXX XXXX. On XX/XX/XXXX, the company responded to my complaint, however, the company never addressed the issue of my complaint. The complaint was then marked Closed by CFPB. I did not understand how the complaint could be marked closed when the main points were never addressed in their response. I provided feedback on XX/XX/XXXX and requested the complaint be reopened. On XX/XX/XXXX, I called CFPB and learned that I would need to submit a new complaint to officially reopen this complaint.

I am submitting a new complaint with the expectation that I receive an answer to the following : I am formally requesting a copy of the Change in Terms letter that directly explains when and why my FIXED RATE credit card ( originally with XXXX XXXX XXXX ) became a VARIABLE RATE credit card once the account was taken over by Barclay. If Barclay does not have a document that addresses this Change in Terms with regards to my FIXED RATE, then I feel fraud, and possibly illegal actions, have occurred against my account.

I am asking for an explanation as to how I can be charged a VARIABLE interest rate on money that was purchased on a FIXED rate.

I ask that CFPB reviews the response from the company to be sure the company is addressing the previous two points before closing the complaint.

I am attaching the documentation that was provided by the company as a response to the complaint for review. The XX/XX/XXXX documentation ( XXXX XXXX XXXX ) I was provided by the company as their response does not address the issues. I feel as if the company chooses to ignore the main point. In the company 's response regarding the Change in Terms agreement ( paragraph 2 and paragraph 5 ) the information letter that was mailed in advance of the conversion does not address a change in my FIXED RATE card to become a VARIABLE RATE card. The XX/XX/XXXX Change in Terms agreement addresses " a minimum interest charge '', " transaction fees for transfers, checks, etc. '' foreign transaction fees '', " returned payment fees '', " late payment fees '', " over the credit limit fee '', " APR for cash advances '', " the penalty APR '' and the " options '' I have if I do not agree to these terms by XX/XX/XXXX. In the document from XXXX XXXX, ( XXXX XXXX. ( CFPB ) .pdf ) she explains in paragraph 4, " At the time of the account transition from XXXX XXXX XXXX to Barclays , the Prime Rate was 4.25 %, the current Prime Rate is 5.25 %. '' This response makes it appear as it my account was based on the Prime Rate. What validity does this statement have when it was a FIXED RATE APR account? My husband still have his account with XXXX XXXX XXXX with his FIXED RATE. Until I have documentation proving otherwise, my account would still have a FIXED RATE as well if it was still held with XXXX XXXX XXXX. It is not until Barclay took over my account that it became a VARIABLE RATE centered on the Prime. I am not pleased with the fact that the response did not address the most significant issue in my complaint. As an American consumer and a customer of Barclays, I expect the next response to address my points above. Based upon the response from this second attempt will determine if I will pursue legal advice from the military base to decide how to further proceed with getting this issue resolved.

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