Has a bank ever made you so mad that you swore you were going to do something about it? Well, now you can. You can now visit a new government site where you can post your credit card complaints. Are you alone? Do others have the same claim?
What benefit can making credit card complaints have?
This site was set up in hopes that if people were allowed to have a forum where they could publicly post their grievances the bank would resolve many of these issues. It makes sense in a way. What bank wants to be known as the bank with the most credit card complaints.
This site can be a helpful tool but beware. This site will be one-sided accounts of grievances card holders had. No one single person that posts to this site is required to post their name. The benefits of this site is that it allows you to search by bank and categories. This site will give you a basic but not a complete report about how different banks respond to customer service calls. It is an essential report because you the consumer are not given information on positive customer experiences. Be careful and do not use this site solely to choose your next credit card. It is hard to make an informed decision when you do not know the positive attributes this credit card company may offer.
This site will let you avoid banks that have an appalling track record with customer service. You might have an experience you want to report and find that other people had the same experience. The Federal Consumer Financial Protection Bureau has launched this complaint site. One site is now tracking consumer credit card complaints regarding banks and the credit cards they issue. Common complaints are interest rates and billing disputes. Many different topics are covered.
This can for consumers be a helpful starting point in finding the right credit card by avoiding credit card companies with a poor customer service track records. It is important to remember that larger banks will have issued more credit cards. Consumers need to be aware that more credit cards mean there is the likelihood that a bank will have a higher number of complaints posted.
Is this site the answer to credit card complaints? Honestly, it is too early to tell. A lot will depend on how this site is managed. Will it be easy for the consumer to find the information they are looking for?
Government Site Helps Consumers Post Credit Card Complaints
This site can be an excellent way for banks to side more favorably on the side of the consumer. A bank president or CEO would be unwise not to review customer complaints. With so many visitors expected to this new complaint forum, banks will need to compete with other banks in providing the best overall customer experiences. Excellent customer service is the only way to avoid having customer complaints filed. In many ways, this sounds like a great idea. If this new customer complaint database benefits the consumer, it remains to be seen.
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