Consumer complaint received 2024-03-02 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: U.S. BANCORP
State: IL

Complaint narrative:
Since this company took over management of my credit Union 's credit card about 2 years ago, I've had four separate incidents of fraud occurring on my cards. 

Most recently as of XXXX of last year, I submitted another fraud claim for the same thing that has already occurred several other times. 

Every other time I had a fraud claim the card would be canceled immediately and I would be sent a new card while the claim was being worked on. This time after speaking with the representative, a fraud investigator closed my account for good with no notification to me whatsoever. 

I sought to appeal the ruling and was told by several different people that I wasn't privy to the information. They would give me zero contact information for anybody when I asked to escalate this to leadership saying that the only way that it could be escalated was to mail in a paper letter with the facts of the situation, which I did two office of the president. 

I did so, waited another 30 days, and received no notification of their decision as to why My card was closed. 

There eroneous decision- which no one has taken accountability for on any of the more than 60 phone calls ( not an exaggeration ) I've made to them over the past 4 months- has negatively impacted my credit score, and my ability to refi my home.

Further, I also feel as though this is a deceptive business practice as the credit card that I had with my original credit Union had a 9.9 % interest rate. When XXXX took over the card, It went up to 15.99 %. 
And, when I inquired as to what I can do to reopen my card they said I would have to reapply and the interest rate would be north of 25.99 %. 

I believe based on the limited information I've gotten, along with the runaround and complete incompetence of the individuals that I tried to work with amicably to resolve this matter but received no reciprocation from, that this was very intentional. By canceling my card. I now have to more than double my interest rate in order to get a new one with their ( XXXX ) organization. They did not originate my credit line, which means that they are probably splitting the interest with XXXX XXXX XXXX XXXX, the original creditor. If I reapply for a new card they would subsequently cut out XXXX XXXX XXXX XXXX and take all the more than 100 % increase in interest rate for themselves. 

I tried to contact the leadership of this organization several times via email via phone and other means to which I got no response and no callbacks. 

I was hung up on several times when trying to inquire about this and was told at one point that " there is no more escalation I would have to deal with it on my own '', and, 'it wasn't their problem '.

I'm not one to complain - because typically I get very good customer service from the organizations I do business with. I pay my bills on time including this one and I've never had a late payment in my life. I have this credit card for more than 10 years with not one late payment and because of their business practices my account was compromised then I'm being punished for that. I'm happy to show any additional documentation that might be needed should the investigation take place. I have everything documented. Further, I was told several times that every call was recorded that I had with them, but when I asked for a review of the calls. I was told There was 'no way to request that from a manager and that is none of my business what they had on their recordings '. 

I have made every attempt to resolve this amicably with this organization and was treated horribly. I now have to deal with the consequences of their short-sighted and erroneous decision to close an account of somebody whos done business with their client for more than 10 years. 

I hope to deter anyone, including new credit union or banking clients from doing business with these people as they have absolutely no protocol for dealing with escalations and as you can read above, they are grossly incompetent at providing customer service and operating in a reasonable capacity with their customers. 

Lastly, I made a phone call with a representative from my credit Union, The original creditor for my account and their client - after sitting on hold for more than 2 hours, being transferred six separate times, we were ultimately hung up on by a manager. 

The credit union is escalating this on their end as well, which I appreciate. But I would strongly discourage anybody from doing business with this organization in the future because if something goes sideways they take absolutely no accountability for it, and you will suffer the consequences for their incompetence.

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 non-monetary relief