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Oklahoma credit card users complain to federal regulators less than national average

An analysis of complaints to the Consumer Financial Protection Bureau in 2013 found Oklahoma residents complained about their credit card companies at half the rate of the national average.
by Paul Monies Modified: August 16, 2014 at 7:08 pm •  Published: August 15, 2014

Oklahoma credit card users are less likely to complain about their credit card companies than customers in other states, according to an analysis of complaint data to federal regulators.

In 2013, credit card customers in Oklahoma filed 2.2 complaints per 100,000 residents with the Consumer Financial Protection Bureau, compared to the national average of 4.1. The analysis was done by ValuePenguin, which researches the features and performance of credit cards.

The Consumer Financial Protection Bureau was established following the global financial crisis that began in 2007. The federal agency — set up by the Dodd-Frank Act of 2010 — began collecting consumer complaints about financial services in 2012.

ValuePenguin found residents of the District of Columbia complained the most about their credit cards in 2013, with a rate of 14 complaints per 100,000 residents. Mississippi and North Dakota residents had the lowest rates, at less than 1.5 complaints per 100,000 residents.

Among the six largest banks studied, Capital One and Citibank had the highest complaint rates, ValuePenguin found. They were followed by Bank of America, Discover, Chase and Amex. To get the complaint rates, ValuePenguin divided the number of complaints in 2013 by the card issuers’ total purchase volume.

More than 13,100 complaints about credit cards were filed with the federal agency in 2013. Most complaints were over billing disputes, but others covered fraud, interest rates, account closures and rewards programs.

Read ValuePenquin's report

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by Paul Monies
Energy Reporter
Paul Monies is an energy reporter for The Oklahoman. He has worked at newspapers in Texas and Missouri and most recently was a data journalist for USA Today in the Washington D.C. area. Monies also spent nine years as a business reporter and...
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