Consumer complaint received 2024-12-01 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Unexpected increase in interest rate
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
Dear CFPB, I am writing to express my deep disappointment with Truist Banks handling of my account. Despite being a loyal BB & T customer for over 30 years, I have faced numerous issues that have caused significant distress to me and my family.

Interest Rate Increase : Truist has raised the interest rate on my credit card without my approval. This change has caused severe financial strain. I am unsure if this occurred during the merger with BB & T and SunTrust into Truist. I urgently request a copy of the original fixed-rate contract I signed. Despite contacting Truist multiple times and speaking with executives, specialists, supervisors, and managers, I have only received the current contract, not the original one. 

Credit Bureau Reporting Error : Truist mistakenly reported incorrect information to the credit bureau, negatively impacting my credit score. Although Truist acknowledged the error and contacted the credit bureau to correct it, this is just XXXX of many issues I have faced. 

Lack of Support and Financial Assistance : Over the years, I have repeatedly reached out for assistance, only to be met with inadequate responses. I have never received any financial benefit or meaningful support from Truist. For instance, when I applied for a mortgage loan, Truist made a significant error. Despite being approved and completing all necessary steps, including the appraisal, the process was halted due to a mistake on Truists part. It took intervention from two executives to acknowledge the error and refund the appraisal fee. This is just one example of the many issues I have encountered. I have asked Truist constantly to help me pay off the card or to negotiate a reasonable interest rate and then lock my card until it is paid off, but they have done absolutely nothing to help.

Financial Contributions : Over the years, Truist has made significant profits from my accounts. Specifically, they have earned over {$15000.00} from my credit card alone. Additionally, we have an international account and frequently transfer large sums of money, generating further revenue for Truist. Despite this, they have never offered any assistance to help reduce my credit card payments or balance. This is the only credit card I have ever had in 30 years where I have not been able to pay off the balance on time, despite having a good credit score and a strong financial history.

Personal Circumstances XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  I have applied for Social Security XXXX, and my wife, who is also an XXXXXXXX XXXX XXXX XXXX XXXX We have never missed a payment in 30 years, and we need your help to resolve these issues and get our credit card paid off. 

I am extremely disappointed with the lack of action and support from Truist. It feels like being punched in the stomach every time I have to recount these issues. I request that a regional XXXX or an XXXX contact me immediately to resolve these matters. 

Thank you for your attention to this urgent request. 

Please not the general contract the send is illegible. 

Sincerely, XXXX

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