Consumer complaint received 2025-06-18 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: TX

Complaint narrative:
I called Bank of America to have a payment reversed in the amount of {$7500.00} on XX/XX/XXXX because the furniture store i made a purchase at the previous week was going to give me a partial refund in the range of {$2000.00} - XXXX dollars. I didn't want to hold a negative balance on a credit card of that XXXX XXXX dollars of money I didn't have direct access to in cash should the need arise. this was the reason for the request in the first place to have the payment reversed so i can then make a future payment to offset the difference. 

I was told this could take up to XXXX billing cycles which if it took the length of that time would be XX/XX/XXXX, the end of the second business cycle. 

On XX/XX/XXXX I called bank of America back to cancel that request as I had a home improvement project I was going to use the negative balance on my bank of America credit for and rendered the need to have this payment reversed unnecessary. i was told someone from Bank of America would call me back in XXXX to 3 days of this request, I never received a call back. 

On XX/XX/XXXX I received the refund in its entirety of {$7500.00}. I was unaware this took place as I was not watching the account that day, nor did I check on XX/XX/XXXX when the billing cycle ended. 

When the billing cycle closed I was charged a XXXX $ late fee and an interest charge of {$160.00} At this time on XX/XX/XXXX after I received these additional charges, I had not received the payment from Bank of America into my Chase Checking account where the original payment of {$7500.00} had come from. 

I proceeded to call Bank of America back again on XX/XX/XXXX to request the late fee and interest charge be waived or removed from my Bank of America because I had no chance to pay back this {$7500.00} as I had not received the money back into my Chase checking account from them. Which at this time Bank of America told me this can take XXXX business days to get the money back into my account. 

I asked Bank of America how can I pay the {$7500.00} in time within XXXX business day on XX/XX/XXXX when I had yet to receive the money back and they had no answer. On this call they were able to remove the {$39.00} late fee immediately but the {$160.00} interest charge needed further review from a different Bank of America team that handled these requests. So I submitted that claim and on XX/XX/XXXX I received an email detailing my request to have the {$160.00} interest charge removed had been denied. 

I called Bank of America back once again on XX/XX/XXXX to discuss with a XXXX or Bank of America representative higher up to have this reviewed or reconsidered again. 

I was told I would get a call back from a manager at Bank of America on XXXX XXXX or the following morning on XX/XX/XXXX to discuss this further. I never got that all and waited XXXX more additional days in the case they were behind with their communications to their customer but still had not heard back from Bank of America. 

I called them again on XX/XX/XXXX and requested on that call I speak to a manager about this issue now. A manager joined the call and detailed that the team that reviewed this request is the highest team that handles this and no further review higher up or will this request be reviewed again for reconsideration. I urged this manager to take any and all further action to have this interest charge removed from my account but I was denied. 

In summary Bank of America expected me to pay {$7500.00} within XXXX business day of my billing cycle ending, without having received that amount of money back from them in my XXXX checking account with no communication from them about any of this, which I was told would happen prior to the billing cycle ending

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