Credit card -- Fees or interest -- Complaint #8403637
Complaint Overview
Complaint ID: 8403637
Company: Bread Financial Holdings, INC.
Product: Credit card
Sub-Product: Store credit card
Issue: Fees or interest
Sub-Issue: Problem with fees
State: Colorado
ZIP Code: 80439
Date Received: 2024-02-22T12:00:00-05:00
Date Sent to Company: 2024-02-22T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
I spoke with a representative at Comenity. She indicated that in spite of the date the payment may have been received, the payments are often processed later. If they are processed after the due date a late fee is assessed. I don't know the the staffing levels of Comenity. The lady on the phone indicated she was only allowed to remove the XXXX late fee ( one month ). My bank has indicated it can not process the Comenity payments through electronic means ( ACH ). The bank indicates they must send an electronic check. When I request an electronic check be issued I pre-plan normally at the beginning of each month, for payments made the following month. In other words I am on a fixed income as a retiree and I have a budget. I plan ahead for bills a month in advance. I make payments well in excess of the minimum. When I request these checks, I put the date the check is to be received and paid, then the program calculates the time necessary to assure delivery based upon the address of a given payee. If you notice on my bank statement ( attached ), the far left column is the date they calculate the check needs to be mailed, in order for the check to arrive on the due date. The column 5 to the right indicates estimated due date which is roughly 5-7 days before the due date. I admit that the first couple of bills I received from Comenity showed that my payment was due on the XXXX. I did not understand that, and adjusted my due date. Subsequently I corrected the payment date to correct the date the payment was received. The amount of time from when the check is sent to the time it is received should be adequate for a letter posted from XXXX to XXXX. I am not sure if the problem is with the Post Office in XXXX, or the Post Office in XXXX, or Comenity receipt of the check, or the time it takes Comenity to process the check. None of this was explained to me while I was on the phone with them. She did indicate that when the checks are processed, if it is after the due date, a late fee is assessed. All of my payments were " processed '' within a couple days of the due date. I have an excellent credit rating. In every instance, with the exception of Comenity, I have always paid my bills on time. This scheme at Comenity is an attempt to collect late fees, rather than interest, is a blatant attempt to avoid dealing in good faith. It seems to be preying on senior citizens
Frequently Asked Questions
What is Complaint #8403637 about?
Complaint #8403637 was filed against Bread Financial Holdings, INC. regarding Credit card specifically about Fees or interest. It was received by the CFPB on 2024-02-22T12:00:00-05:00.
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) 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.