Consumer complaint received 2026-06-16 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with rewards from credit card
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: IL

Complaint narrative:
I held a credit card account with Bank of America for approximately one year. Around the end of XX/XX/year>, my card unexpectedly began getting declined. After a few days of consecutive declines, I contacted Bank of America 's customer service department to investigate the issue. The representative informed me that my account had been unilaterally closed by Bank of America under the classification of " high risk. " I disputed this risk assessment, as my spending patterns remained entirely consistent throughout the duration of the account. Furthermore, I have never missed a monthly installment and maintained a strict financial habit of paying off the entire balance on a weekly basis. Despite my disagreement with their risk classification, I cooperated fully, accepted their closure decision, and immediately paid off the remaining statement balance to XXXX out the account.When it came time to access my accumulated cash back rewards, the closed credit card account was completely removed from my online banking account page. I called Bank of America customer service specifically to check the status of my cash back balance. The representative verified that there was an active balance of nearly {$1500.00} in cash back rewards tied directly to the account. The representative attempted to redeem this balance on my behalf, but the internal system generated a processing error. The representative placed me on hold to consult with a separate department regarding the error. Upon returning, the representative explicitly stated that Bank of America was unable to redeem the {$1500.00} in cash back I had rightfully earned solely because they had closed down the account. Bank of America 's outright refusal to distribute or transfer my earned, liquid financial assets constitutes an Unfair, Deceptive, or Abusive Act or Practice ( UDAAP ). Per consumer regulatory standards outlined in CFPB XXXX XXXX, financial institutions are barred from relying on buried, vague forfeiture terms in fine print to retroactively erase or cancel valuable rewards that consumers have already fully earned via transactions. A financial institution 's independent business decision to close an accountespecially after the consumer has fully settled all debts and balancesdoes not legally invalidate or wipe away a distinct financial debt or cash back value owed to the consumer. Bank of America has previously faced enforcement actions from the CFPB for illegally withholding promised credit card rewards. Because I have acted in good faith, maintained a perfect payment history, and completely paid off the account balance, Bank of America is causing me substantial financial injury by withholding my vested funds. I am requesting that Bank of America immediately issue a check or statement credit to me for the full value of my earned cash back rewards in the amount of {$1500.00}. Furthermore, Bank of America failed to provide me with a final periodic statement during the last month of the account 's operation, effectively obscuring my final rewards balance and account data. Under the Truth in Lending Act ( Regulation Z ), credit card issuers are legally mandated to provide periodic statements for any account with a balance over {$1.00} or where a finance charge has been imposed. By withholding this statement and removing the account from my online portal, the bank has actively prevented me from viewing my financial data

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