In the news

USPIRG
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KDVR Fox 31 Denver
By
CNN Wire

Thousands of Americans are lodging complaints with the government’s financial watchdog about their credit cards, and some issuers are being griped about a lot more than others.

Of the more than 25,000 credit card complaints the Consumer Financial Protection Bureau has processed between the November 2011 launch of its complaint database and last September, Capital One received the biggest share, according to new analysis from the U.S. Public Interest Research Group.

Roughly 21% of all complaints were made about Capital One, followed by 18% about Citibank, 13% for Bank of America and 13% about Chase. Capital One said that it no longer has the highest number of complaints, based on more recent data from the CFPB’s complaint database, and that it remains “committed to working with our customers to resolve any issues they may have.”

Based on the ratio of complaints to card purchase volume, however, GE Capital Retail garnered the highest number of grievances through September — with 88 complaints for every $1 billion in purchase volume. Some of these complaints sparked the CFPB to take legal action last month, ordering GE Capital’s medical credit card business to repay $34.1 million to more than one million customers for misleading them into thinking they were signing up for an interest-free line of credit.

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