TD Bank Credit Card Complaint

TD Bank Credit card department,

Closing/Cancelling account Maryland

TD Bank is using fraudulent terms to bait people into signing up for their credit card and then not paying them the rewards that they are owed. In -/-/- I applied for the TD Easy Rewards credit card. The terms and conditions on the application today are the same as they were back then. They state that for the - 6 months, - earns - points at grocery stores with no cap. It explicitly states that the amount of rewards that one can earn is unlimited. Well, my son and I have a LOT of expenses at grocery stores so this was very attractive for me. I applied, took the credit hit from the inquiry, was approved and added my son as an authorized user. For a few months this card was very beneficial to us due to the amount of expenses that we were earning - points on. But in -, TD Bank decided to implement an unwritten points cap and shut people down who had already earned that many points. They will not admit to this, but from reading the exact same experience from others on online forums, I am positive that this is the case. In -


periodically did security reviews and I was deemed a risk for fraudulent activity '' blah blah blah, said something about money laundering. - of all, this is absolutely bogus. How can you launder money with your own credit card? Money laundering is done by criminals who have a lot of cash they 've obtained illegally that they want to hide. Who ever heard of laundering money with their own credit card? No one, because its impossible. -, I did absolutely nothing differently than I had been doing the previous months. They made up a reason to close my account because they decided I was n't profitable enough for them. I guess they might have the right to do this, except for the fact that they explicitly stated that there was no cap on the rewards that could be earned! This is classic bait and switch. They are making false promises of unlimited rewards which they have no intention of honoring. When my account was closed I had $14000.00 in pending charges which would have yielded me $730.00 in points. This is in addition to all of the points I would have made, if they had left my card open for the promotional period. I demand that they pay out on this. They will claim that their T & Cs state that they do n't have to pay rewards if an account is closed, but this does n't mean they can close an account just to avoid paying the rewards! Again, classic bait and switch! Crook institutions like this are exactly why we need the CFPB. Someone needs to hold these banks accountable!