Thousands of complaints have been officially provided by consumers to the Consumer Financial Protection Bureau, which released a report detailing specific credit problems they have had when speaking with issuers.
According to the CFPB's analysis, billing disputes were the most complained about to the agency. The report shows 681 complaints, or 13.1 percent of all complaints, were filed about issues with billing.
Additionally, 556 complaints were directed at annual percentage or interest rates, while 546 grievances were issued regarding identity theft, fraud or embezzlement – both of which accounted for more than 10 percent of the total number of complaints submitted.
"After careful analysis, the bureau will determine how best to address these issues through a variety of means ranging from consumer education and engagement to new regulatory policies," Raj Date, special advisor to the Treasury for the CFPB, said in the report.
Jennifer Howard, a spokesperson for the agency, told MSNBC consumer confusion with credit card companies and the terms these issuers place on their products.