Credit Card Complaints Made Public
NEW YORK ( LowCards.com) -- Ever wanted to know which is the most hated credit card provider of all?
Despite protests from the financial industry, the Consumer Financial Protection Bureau has made its online credit card
The information shows which issuers have had the most complaints on their cards and how specific complaints were ultimately handled. The data can be viewed online by company, consumer zip code and type of complaint.
The CFPB began taking credit card complaints on July 21, 2011. Through June 1, 2012, the Bureau had received nearly 17,000 credit card complaints.Billing disputes are the most common complaint, followed by interest rate issues. More than 2,000 complaints received financial compensation from the issuer to the consumer with $25 being the most common amount of compensation (the median amount was $130). "By making our data publicly available, initially in the area of credit cards, we hope to improve the transparency and efficiency of this essential consumer market," said CFPB Director Richard Cordray in a
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