Consumer complaint received 2017-01-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NV
Product: Credit card
Issue: Balance transfer fee

Complaint:
I received credit card checks by mail stating that : " As a valued customer and BankAmericard Cash Rewards MasterCard credit cardholder, you can take advantage of two limited-time offers to pay off debt faster, deal with unexpected expenses or keep pace with short-term borrowing needs. Choose both offers and save even more! '' Next to the statement above on the right side were two boxes describing each of the offers. One of the offer stated : " OFFER 1 LOWER RATE 0 % ( 0 % Daily Periodic Rate ( DPR ) ) Promotional APR until XX/XX/2017 Use Offer ID XXXX - XXXX, or use red check number XXXX or XXXX '' Based on the offer that is given above, I used a check to make payment and I have been charged for 3 % transfer fees. 

I am writing to dispute the fees because I did not know there was a fees associated with such transaction. I only noticed of the fees when it actually posted on my account. 

I went back and read the original offering mail that came with the check. The document is a bifold document. It has two pages on the front and two pages on the back. The left front page states all the commercial advisement with variable APR no the bottom. The right front page has three checks for me to use with some information on the bottom. The back of the document have FAQ on the right side and nothing on the left ; the left was the back of the check. 

The issue here is the disclosure of 3 % fee on the mail. The only time there was a disclosure was on the front-right page below the check ( the bottom page ). The disclosure was at the very bottom and small. 

When I, initially, got the mail, I read the first page that contained all the advertisement offer as I described above and thought the deal was great so I took on the opportunity. However, the disclosure would have been more effective, catch my eyes, and easier to read if it were to be on first front page next its advertisement : " LOWER RATE ... 0 % ... User Offer ID .... '' Instead, their disclosure is smaller in size when comparing to their commercial advertisement to lure me in. The advertisement offer is in bold and capital but the disclosure was not - seems like they are suggesting and traping people to use their checks by placing the 3 % fees toward the very bottom of the second page. The placement of the 3 % fees disclosure was in very dis-part from their advertisement offer. They should tell me on the first page next to their advertisement about the fees. Why tell me everything about how good the offer is without telling me the fees on the same page, within the same box, same statement line or next to each other so I can compare and analyze my risk whether or not to take the deal. In addition, the 3 % fees disclosure should have also been on the back of the document especially in FAQ section. They have every opportunity to include their 3 % fees to let consumers know conspicuously but they did not. Their disclosure in not proper here. 

I would not have used the checks if I knew there was a 3 % fees associated with the transaction. Because there was not adequate and sufficient disclosure, I used the check without knowing so. I called the credit card and explained of what happened, but they said there was nothing they can do, and I am writing to seek you help.

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