Credit card or prepaid card -- Fees or interest -- Complaint #6353465
Complaint Overview
Complaint ID: 6353465
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: Problem with fees
State: Washington
ZIP Code: 99223
Date Received: 2022-12-22T12:00:00-05:00
Date Sent to Company: 2022-12-29T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Comenity - Explorer Rewards Card. Our mail has been slow ( mis-delivered ) for several months now. I've been receiving my statement about 7-10 days before the due date. I set up payment through my bank 's bill-payer, who has been increasing the lead-time on mailing payment to the creditor. I've tracked payments that have taken 10-14 days to reach the payee. Even one that arrived there 1 week before the due date. In all cases, the payments were posted late and late fees with interest charged. I've paid off the balance and paid the late fees for three months, while submitting the tracking documents to their service dept to request the removal of those fees. just received another statement showing an accumulated balance of late fees with interest along with new fees. The principal was paid off months ago. I pay all my bills on time, so why single out this card to pay late? Comenity XXXX said that I " could mail the payment months early, and shouldn't expect a waiver '' if they post it late, even if I prove it arrived 7 days before the due date ''. She suggested that I call in to pay over the phone every month. The irony is that I don't need to use the card. I had it for convenience and it is much easier to just pay with cash. Now I'm not inclined to even shop at the store anymore. But maybe that is the card company 's intention ; to run off customers for the company they serve. The last two months, I have remitted the full statement balance of the late fees, hoping that it would zero the account and stop it. I'm again going to pay off the full balance. The late fees are {$35.00} per month and the interest of a couple dollars is carrying over a balance. So, the late fee is 30 times more than the balance. Then the interest accumulates on the late fee, too. So three months later, they billed me over {$100.00} in late fees and interest for a payment that arrived before the due date ( see attached tracking history ). I believe this is a predatory scheme of loan-sharking. It is unethical and disgusting behavior for a credit card company.
Frequently Asked Questions
What is Complaint #6353465 about?
Complaint #6353465 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 2022-12-22T12:00:00-05:00.
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.