Credit card or prepaid card -- Fees or interest -- Complaint #6667733
Complaint Overview
Complaint ID: 6667733
Company: Bread Financial Holdings, INC.
Product: Credit card or prepaid card
Sub-Product: Store credit card
Issue: Fees or interest
Sub-Issue: Charged too much interest
State: Delaware
ZIP Code: 19966
Date Received: 2023-03-08T12:00:00-05:00
Date Sent to Company: 2023-03-30T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
Through XXXX XXXX I used XXXX XXXX XXXX through Comenity Bank. It was a two part promotional plan, one ending XX/XX/XXXX the other ending XX/XX/XXXX. Upon receiving the first bill I contacted customer service to get a full understanding of my plan and to make sure at the end I would not accrue interest. It was explained that my total amount due by XX/XX/XXXX divide that by the number of months before plans ends. That gives you a monthly figure to pay. To assure this was correct, I called back a second time and spoke to a different representative who explained it the same way. So once the first part is paid off, I have until XX/XX/XXXX to do the same for the second part. Follow that same payment plan and you wont accrue interest because your paying your balance off before it ends .On the first part of my plan I had the balance left of {$280.00} which was due by XX/XX/XXXX. I made that payment on line XX/XX/XXXX. When my account billed which would have my balance for the second part of my plan due in full by XX/XX/XXXX, I was charged {$850.00} in interest on an interest free promotional plan. When I called and spoke to a representative, I was told that I was charged interest because I should have been paying a minimum payment for the second part plan while I was paying on the first part plan. Even though I was paying more than the minimum payment due, I should have been adding extra for the second part. This is not how the plan was explained. And why give me a expiration date of the plan of XX/XX/XXXX if i had to pay it off as i was paying on the first promotional plan? The representatives obviously didnt understand the plan, because on more than one occasion it was explain by Comenity Bank Representatives . Why have a two part plan if your expected to pay on both at the same time. Bill me for both and show me on my bill what my payment is for each. I paid off both my promotional plans, with no missed payments and paid off by the date required. Comenity has added accrued interest of {$900.00} that I feel that do not owe. The balance is all interest added on after I paid the first plan in full.
Frequently Asked Questions
What is Complaint #6667733 about?
Complaint #6667733 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 2023-03-08T12:00:00-05:00.
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.