Consumer complaint received 2023-08-04
Company: U.S. BANCORP
State: KS
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:
We were approached by a banker who assisted us in opening a US Gold business banking account with a business triple cash account. At the time, there were two business owners involved, but the specific details on how to qualify for the account opening bonus were never disclosed to us. After waiting for over two months, I took the initiative to inquire about the status, leading to the eventual crediting of the checking account bonus. Had I never taken the initiative, we would have never gotten that bonus. However, to our dismay, the credit card bonus was not provided. 

Under this account, there are two credit cards linked to it, as there are two owners. We diligently met the required {$4000.00} spending minimum on the account. When I reached out to the designated support number for the credit card, I was assured that we had fulfilled the necessary criteria, and the bonus would be issued to us by early XXXX. 

Unfortunately, the situation took a turn for the worse. After the promised date had passed and we still hadn't received the bonus, I contacted customer service once again. To our surprise, the next representative informed us that we had not met the requirement because one of the cards was an employee card something that was never communicated to us. Furthermore, they stated that in order to reach the spending limit, I must spend additional money on the primary card holder 's card. Had we been aware that the bonus only applied to one of the cards, we would have concentrated all our spending on that specific card. 

Following this conversation, the representative assured me that the matter would be escalated, and they would get back to us within 10 business days. Regrettably, after the specified period, no response was received. Today, upon contacting them again, the representative disclosed that the previous escalation was never acted upon and indicated that they would seek input from a supervisor. They then cited that it was outlined in their terms of service that all the money must be spent on one card to qualify for the bonus. 

This experience has been deeply disappointing and feels like a scam. It appears that the process was deliberately prolonged, potentially to surpass the deadline for meeting the requirements. The banker who assisted us did not provide adequate information about the cards, leading to our wasted time and financial loss. The entire process was plagued by misinformation and incompetence. 

To others seeking to open accounts with US Bank, I strongly advise exercising caution and self-researching. It is essential to thoroughly question and verify all terms and conditions before proceeding. Trusting vital information with an incompetent banker and engaging with a business that employs dubious practices is ill-advised. Consider documenting all interactions and agreements when conducting business with such entities. Alternatively, we recommend considering other reputable options for conducting business.

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