If the new Consumer Financial Protection Bureau (CFPB) is as good as its website, consumers will find the process of filing and resolving credit card complaints significantly easier than it has been in the past. The new website, ConsumerFinance.gov, features a comprehensive credit card complaint section that should expedite the resolution of just about any common issues consumers may have.
On the credit card complaint page, consumers are first requested to describe the issue at hand. Once this is completed, there is a drop down box that features an extremely comprehensive list of complaint categories. Thus, if a person had their credit card stolen and the credit card issuer was unwilling to remove fraudulent charges, that person could describe the incident, select billing or identity theft as the complaint category and then input the dollar amount being disputed.
Once this information is submitted, the consumer is then prompted to explain a desired solution. In the fraud example above, this would entail stating that X number of charges totaling X number of dollars be refunded to the account. If late or penalty fees were incurred as a result of this issue, this data should be included as well.
After providing a desired solution, consumers are then asked to provide their contact information and their credit card information. This is all handled on secure, SSL encrypted servers, and the fact that the CFPB is collecting this information seems to indicate that they will follow-up on the matter directly on your behalf.
Another feature many will be surprised to find is a live chat option that is available Monday through Friday between 8:00 am and 8:00 pm EDT. This should further help consumers who are unsure of how to describe and categorize their complaints.
Just how effective this new site will be for consumers remains to be seen. However, the way the website is set-up, it looks like consumers who take advantage of this new service will save a lot of time dealing with unsympathetic customer service reps and hopefully get their credit card complaints resolved expeditiously and correctly.
For additional information or to file a complaint, please see https://www.consumerfinance.gov/complaint/.
Comments from consumers who have had experience with the site would be helpful to those who are considering this option.