Consumer complaint received 2025-07-07 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Charged too much interest
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MD

Complaint narrative:
I have a consumer credit card with Bank of America ( BOA ) which, up until now, I have used regularly for purchases. The current interest rate ( APR ) is supposed to be 10.4 % V. In XXXX & XXXX I made payments, paying off my statement balance but for {$850.00}. In XXXX & XXXX, I paid off my entire statement balance except for {$1.00} - these payments were due by XX/XX/XXXX and were made on XX/XX/XXXX ( {$1000.00} ) and XX/XX/XXXX ( {$3800.00} ) respectively. 
My recent statement is dated XXXX XXXX XXXX XXXX and shows that my previous balance was {$2500.00} and I made {$2600.00} in payments- {$2500.00} of which was paid on XX/XX/XXXX ( 17 days before due ). On page 5 of this statement, I am charged {$25.00} in interest charges based on a " balance subject to interest rate '' that BOA calculated as " {$2900.00} '' which is incorrect based on my prior balance and prior payments. This is inflated in favor of Bank of America based on the algorithm they use. I have had this problem before but it was always resolved via a phone call. But this time upon reviewing my statement, I called BOA on XX/XX/XXXX ( 45 min call ) & asked for a Supervisor to review the interest charges, the agent ( XXXX in XXXX ) went back and forth with me on hold, and ultimately submitted a request for me that it be reviewed internally re my request for adjustment of the interest charge, stating that it " may be denied. '' She provided 2 different reasons as to why the interest charges were correct, but both # 's she cited did not amount to {$2900.00} ( they were {$2500.00} & {$2500.00} ). She said there was no reference/confirmation # but I would receive an email decision from BOA. On XX/XX/XXXX, I received an email from BOA denying my request for any statement credit at all for the inflated interest charges billed, and BOA gave a 3rd reason which was that the interest was a " residual interest '' charge. This email said their decision was " final. '' Next, I called BOA on XX/XX/XXXX at XXXX XXXX  ( EST ) which was a 34 min call & I spoke to a Supervisor in XXXX named XXXX, she said that BOA had internally reviewed my request " twice '' and she had " no ability to submit it for a 3rd review '' and she was " unable '' to process a partial credit in any amount to resolve this matter. I informed her that 1 ) I will be filing a formal complaint with the consumer financial protection bureau and 2 ) I will be getting a new credit card with XXXX XXXX. She provided the mailing address for the BOA XXXX XXXX XXXX. for me to send a copy of my complaint ( to CFPB ) : XXXX XXXX XXXXXXXX in XXXX, TX XXXX. 
It should be noted that I hold a XXXX degree in XXXX, am a XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX so I am familiar with identifying mathematical discrepancies based on the stated interest rate being charged, etc. Credit card companies charging excessive interest fees is a matter that I take very seriously.

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