Consumer complaint received 2022-08-13
Company: U.S. BANCORP
State: TN
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
On XX/XX/2022, I responded to an offer from my XXXX XXXX credit card to make a balance transfer from another credit card with 0 % APR for 12 months. I followed the prompts on their website to transfer my existing balance from my US Bank credit card. I am unsure of the exact balance at that time, but it was approximately {$6000.00}. The transfer seemed to be approved normally and I thought at the time that it had been successful. 

I noticed a few days later that my XXXX XXXX card showed an additional debt of XXXX as a result of the balance transfer. I called XXXX to find out what had happened. The representative from XXXX said the error had been on the side of US Bank and initiated a three-way call to US Bank to help reverse the charge. We spoke on the three-way call long enough for the XXXX representative to describe the problem and then the US Bank representative dropped the call. I then called the US Bank number and explained my problem. The US Bank representative agreed that the amount transferred to XXXX far exceeded the balance I had with US Bank on the date of the balance transfer and assured me she would refer the problem to be resolved. 

I received a letter on XX/XX/2022, from XXXX in the Payment Research Department of Cardmember Services of USBank that read, " The payment of {$17000.00} applied on XX/XX/2022 was posted correctly to account number ending XXXX. '' I called USBank to ask who received the excess payment for that amount since I did not owe that amount or buy any goods or services for that amount. The representative who answered the phone transferred me to someone who handles disputes. This representative looked at my accounts and told me that it was clear that an error had been made and that my USBank card now showed a large negative balance ( I forget the amount at that time. I continued to use that credit card since I was unable to use the XXXX card because the balance was so high ). He assured me that US Bank would resolve the issue and asked me to be patient. 

On XX/XX/XXXX, I received a letter from USBank from someone named XXXX in the Payment Research Department that read, " We have reviewed your request to have a refund issued to you in the amount of {$17000.00} for your payment posting on XX/XX/2022. A refund has not been issued because the monthly minimum payment amount due would no longer be met. '' I called US Bank to ask what this letter meant. The explanation the representative gave ignored my concern that I now owed a large sum of money that I never used and was strapped with a huge debt due to their error. I should also note that my credit score declined during this time. No one could explain where the charges sent to XXXX went. Finally, the representative told me that they would mail a check to my home for the additional money and that I could pay XXXX with that check. I did not receive a check in the mail in the next few weeks. So, I called USBank to tell them I had not received a check. The representative told me that they do not mail checks to the homes of cardholders. The check would be issued as an ACI payment to XXXX. 

On XX/XX/2022, I received another letter from Cardmember Services at USBank, this time signed by XXXX in the Payment Research Department. This one read, " We have reviewed your request to refund the credit balance on your account. The credit balance refund of {$7400.00} has been sent to the financial institution where the most recent payments were withdrawn. '' I waited two weeks for a change in my balance at XXXX to show. When it did not show, I called XXXX on XX/XX/2022, to ask if there was any record of payment from US Bank. The XXXX representative checked their records and showed no payment. I initiated a three-way call, bringing USBank on the line. We stayed on the line long enough for the USBank representative to say that their bank had attempted the transaction and it had been declined by XXXX. The XXXX representative had enough time to say that they showed no record of any attempted transaction. Then the USBank representative dropped the call ( again ). 

I called USBank back and had another lengthy talk, explaining this long timeline above. The representative checked the records further and gave me a check number that she assured me had been sent to XXXX on XX/XX/2022. She finally told me that it may be up to 21 days after it was sent before it might post, so I agreed to give them another week. 

It is now XX/XX/2022 and the check has not been received, no one has attempted to contact me from USBank to explain why the situation still has not been 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