Consumer complaint received 2023-06-23
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Didn't receive advertised or promotional terms

Complaint:
To Whom it May Concern : In the XXXX XXXX  of 2023, I made three direct deposit and/or balance transfers via the BankofAmerica website . I made these transactions by clicking through availalble offers on my accounts, that promoted a zero percent ( 0 % ) promotional rate on the transaction for either 9 or 12 months. 

The three transactions were 1. A XX/XX/2023 direct deposit in the amount of {$1500.00}. 
2. A XX/XX/2023 balance transfer in the amount of {$880.00} transferring a balance from another card. 
3. A XX/XX/2023 balance transfer transferring a balance from another credit card in the amount of {$10000.00}. 

About a month later after the XXXX transfers, I noticed on my account statements several amounts that were accruing interest at a standard interest rate APR. The link to the previous transfer amounts was not clear because the statements showed average daily balance amount over the billing period, rather than a direct link to the previous transfer. Regardless, these rates were standard rates and not the 0 % promotional rate advertised, or processed when I made the transfers online. 

Around XX/XX/2023 I contacted Bank of America customer service which started a 2 month ordeal of non-answers and conflicting answers. The first customer service interaction, the representative stated that there were promotional offers available at the time ; a escalation complaint would be filed, and I would get a call from a manager to resolve the matter in 48-72 hrs. I did not receive a complaint reference number despite my request for one. 

On XX/XX/2023 approximately two weeks after my call, and after not receiving any call back on the complaint, I contacted customer service a second time. I was told that there was no complaint on file, and I would have to file another escalation claim. I again requested a reference number, and was only told that a manager would call to explain the matter in 48-72 hrs. This time I believe an attempt was made to call, but I did not receive it and no message was left for me to return a call. 

On XX/XX/2023 I contacted customer service and was told a manager tried to reach me, but was assigned to the matter. I provided best times to reach me and was told to wait for a call shortly. I did not receive any follow up phone call. 

I called again on XX/XX/2023 and was told the same story with no reference number to the complaint or number to contact the assigned manager myself. 

I called again on XX/XX/2023, and was told that is was in process. I asked for it to speak to a manger directly on my call, and was told my only recourse was to open a second escalation complaint. I repeated my information, and this time was finally given a case reference numbers Case # XXXX and # XXXX. I was told a new manger was assigned and I would get a call in 48-72 hrs. I received no call. 

Next, I used a complaint function on the Bank of America website to make a complaint to executive services department. I received email contact, and a direct number to discuss the complaint. However, over several weeks of back and forth in XXXX, I finally received an explanation of my issue. First, an explanation that the promotional rates were transferred at 0 %, but that a small portion of every transfer accrues interest. I told the representative that this did not make any sense ( i.e. a 0 % promotional rate has transactional fees that are charged but do not accrue interest ) nor did that explanation accord with my history of making promotional rate balance transfers. After the call, I reviewed my history of transactions and confirmed my suspicion, that these transfers were never processed at the promotional rate. I called the representative back. She had changed her story and now said that I did not process the transfers in question at the promotional rate. My response is that the online system was in error, and what is reflected in the statement was incorrect. She stated that as I had no screen shots of the online transaction there was nothing else that could be done other than make another escalation complaint and have another manager look at the information. Given the run-around I have initiated that merry go around, but have no faith in the process or the result, but have escalated the issue one more time. 

I still maintain that I made the transfers online at the zero percent promotional rate. I do not make transfers at anything but a promotional rate. I applied only after being shown the offers available, and read the fine print. Secondly, I have a mailer with a promotional rate dated XX/XX/2023 ( Offer ID XXXX ). Admittedly after the date of the transfers, but the fact that the mailer indicated a balance available to make a transfer, indicating the balance as of XX/XX/2023. This to me is a secondary or supporting evidence indicating that promotional offers were available on my account at the time, and the bank could have corrected the error during my complaint process. Instead, they have given me a run-around while the standard APR rate compounds. 

Even without a resolution in my favor I want to make this complaint to warn others that the online processing system is not valid and effectively the bank response has been to refuse any belief that it could be in error. Finally, the stalling, ineffective and conflicting responses indicate that customer service has only added to customer conclusion and has no attempted a efficient explanation or resolution of this matter.

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