Consumer complaint received 2024-07-23 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: CA

Complaint narrative:
I have been misinformed by BofA on the interest charge. Here is what happened : On XX/XX/year>, I received my billing statement and paid the entire balance off by the payment due date of XX/XX/year>. In addition, I was informed by two customer service associates from BofA, as long as I made the payments by the due date when the 0.00 % APR ends on XX/XX/year>, I will not have to pay the interest. 
On XX/XX/year>, I received my billing statement without making any purchases from the same credit card, but it appeared {$140.00} interest charge on the statement. 
I have contacted BofA twice : First attempt occurred last XXXX  XX/XX/year> to request for a refund my interest charge, and I received a letter by email it was declined last Wednesday XX/XX/year>. I made another attempt to BofA and managed to talk to a supervisor on XX/XX/year> and was told that the company 's system only allowed them to try twice. If the second time was declined, there was nothing they could do further because of the system. The first associate, who I contacted on XX/XX/year> submitted the refund for unknow reasons twice on XX/XX/year>. 

What happened to me on this incident from the bank of America seems to be extremely misleading, immortal, and illegal. I have been working in the financial industry for over a decade and have been using credit cards for over a decade. Every month, I get a statement, and I pay the entire balance off by the due date, I do not get charged for the next billing cycle. Right? But that did not happen this time. I was told verbally by two associates from BofA ( calls should be recorded in their record ) I would not pay any interest as long as I made the payment by the due date XX/XX/year>, but in reality, it did not happen. In addition, the statement did not have any interest fee on my XX/XX/year> bill statement. When I called the bank on XX/XX/year> after the fact when the interest fee happened, they started telling me the interest charge would start on the date when the promotion interest of 0.00 % expired on XX/XX/year>, not the payment due date of XX/XX/year>. It is contradictory. First, my billing statement on XX/XX/year> did not indicate any interest fee. This is extremely misleading to the customers and should be illegal to do from this XXXX  financial institution who received trillions of dollars money from the government. 

I am reaching out to get the corresponding department, who is out there to look out for consumers ' interest, do something about these misleading behaviors from these XXXX XXXX  financial institutions. I am respectfully asking Consumer financial protection bureau to investigate this matter to help consumers not to get misled by the banks on the credit card 's 0.00 % promotion rate and when the payment due date is for 0.00 % promotion rate expires in the future. It was vague and I was told by two associates from the bank the wrong information. As a consequence, I am being penalized for this. I found this to be extremely upsetting and unlawful and felt I was being taken advantage of by the big financial institute.

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 monetary relief