Credit card or prepaid card -- Fees or interest -- Complaint #4509270
Complaint Overview
Complaint ID: 4509270
Company: Bread Financial Holdings, INC.
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-Issue: Charged too much interest
State: Florida
ZIP Code: 33063
Date Received: 2021-07-01T12:00:00-05:00
Date Sent to Company: 2021-07-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have apply for XXXXXXXX XXXX XXXX for a XXXX, have been paying more than the minimum payment every month, without any late payments. Without any notification I was charged for the full interest rate on the card on XX/XX/20 in the amount of {$3200.00}, interest rate was charged at once NOT on the balance ( {$5900.00} ) but on the total charge when applied for it {$11000.00}. I try to call to negotiate the charge, to explain that I did not receive notification that I was going to be charged for all the interest rate at once. They did not offer any agreement to reduce or remove the interest charge. This credit card is misleading the customers and it is a completely ripoff. My balance on the card went from {$5900.00} to {$9400.00} without notice that the full interest rate was going to be charged at once on the initial charge, not on the balance.
Frequently Asked Questions
What is Complaint #4509270 about?
Complaint #4509270 was filed against Bread Financial Holdings, INC. regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2021-07-01T12:00:00-05:00.
How did Bread Financial Holdings, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card or prepaid card) and describe your issue in detail.
Can I see other complaints against Bread Financial Holdings, INC.?
Yes, visit the Bread Financial Holdings, INC. company profile at readthecomplaint.com/company/bread-financial-holdings-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.