Credit card or prepaid card -- Fees or interest -- Complaint #5344322
Complaint Overview
Complaint ID: 5344322
Company: Bread Financial Holdings, INC.
Product: Credit card or prepaid card
Sub-Product: Store credit card
Issue: Fees or interest
Sub-Issue: Problem with fees
State: Kentucky
ZIP Code: 410XX
Date Received: 2022-03-20T12:00:00-05:00
Date Sent to Company: 2022-03-20T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I had a store credit card with XXXX issued by Comenity Bank last year that I attempted to pay off and close in XX/XX/XXXX. I called Comenity on XX/XX/XXXX to pay off and close my account and the representative said I needed to pay off the balance of {$200.00} to close my account. I paid that amount over the phone using my debit card and was assured that the account was closed and nothing more was owed. My XXXX and I also moved that month and didn't begin receiving forwarded mail for over a month. By that time, I hadn't received any mail from XXXX and had assumed that my account was closed and paid off. I received a statement in XX/XX/XXXX from XXXX and much to my surprise found that I owed a balance of {$75.00}. I called Comenity to see why I owed this money and was told that accrued interest of {$2.00} wasn't included in the {$200.00} that I paid on XX/XX/XXXX, and interest and late fees had accrued each month since. I went ahead and paid off the new amount because I just wanted to be done with it and was assured it would not happen again. The very next month, I received ANOTHER statement saying I owed {$2.00}, so I immediately called Comenity Bank who removed the {$2.00} charge and finally left me with a XXXX balance, which is what I intended and was told would happen last year in XXXX. I feel that Comenity was misleading in telling me that the balance would be paid off when accrued interest wasn't included in the payoff amount, and it seems borderline predatory to then charge late fees and additional interest on a {$2.00} balance that never should have existed.
Frequently Asked Questions
What is Complaint #5344322 about?
Complaint #5344322 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 2022-03-20T12:00:00-05:00.
How did Bread Financial Holdings, INC. respond to this complaint?
The company responded with: "Closed with monetary relief". 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.