Lawrencewendall
Full time employment: Posting here.
I have a credit card with a reputable bank that charges 9.9% interest on new purchases. I transferred money to it under a promotional offer of no transfer fee and 0% interest until November 2018. I calculated how much above and beyond the new purchases was needed to get the transferred money paid off (an additional $500 a pay period) and every 2 weeks would pay off new purchases and the extra $500. I just noticed that the credit card company has been applying the majority of the money to the 0% promotion and NOT the 9.9% amount, incurring interest since August 2017. From everything that I've read, this in violation of the credit Card Act of 2009. Had I not been tracking the payoff date, I might not have caught this. I contacted the bank and it was escalated up 3 levels of managers. A "special team" needs to investigate it. In the meantime I filed a complaint with the Consumer Financial Protection Bureau as it was pointed out that this may not be a fluke with me but how they try to do business. I recommend everyone look hard at their statements for anything amiss.