Credit card -- Other features, terms, or problems -- Complaint #9987855
Bread Financial Store Card Closed with Explanation
Complaint Overview
Complaint ID: 9987855
Company: Bread Financial Holdings, INC.
Product: Credit card
Sub-Product: Store credit card
Issue: Other features, terms, or problems
Sub-Issue: Other problem
State: New Jersey
ZIP Code: 07631
Date Received: 2024-08-31T12:00:00-05:00
Date Sent to Company: 2024-08-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Risk Assessment
Risk Level: low
The complaint was closed with an explanation, suggesting the issue was addressed or clarified by the company, posing minimal ongoing risk.
Consumer Sentiment: neutral
Topics: Credit card, Store credit card, Account management
AI Analysis
CFPB complaint 9987855 was filed against Bread Financial Holdings, Inc. regarding Credit card (Store credit card), specifically about "Other features, terms, or problems". A consumer filed a complaint regarding a store credit card from Bread Financial Holdings, Inc. in New Jersey, which was closed with an explanation. The complaint was received on August 31, 2024 from New Jersey. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should carefully review the explanation provided by Bread Financial Holdings, Inc. to understand the resolution of their store credit card issue.
Legal Context & Consumer Protection Laws
This complaint likely falls under consumer protection laws related to credit card account management and dispute resolution.
Regulatory Insight
Companies must provide clear and timely explanations for account closures or adverse actions taken on credit accounts.
Resolution Likelihood
unlikely
State-Specific Consumer Protections
The complaint originated in New Jersey, and any state-specific consumer protection laws would apply.
Industry Comparison
Store credit card companies often face complaints related to terms, fees, and account management, with resolutions varying by company policy and regulatory oversight.
Related Issues
Frequently Asked Questions
What is CFPB complaint 9987855 about?
CFPB complaint 9987855 involves Credit card (Store credit card). The consumer reported an issue with "Other features, terms, or problems", specifically "Other problem". This complaint was filed against Bread Financial Holdings, Inc. on August 31, 2024.
Which company is complaint 9987855 filed against?
Complaint 9987855 was filed against Bread Financial Holdings, Inc.. You can view all complaints against this company on their profile page at /company/bread-financial-holdings-inc.
What was the company's response to complaint 9987855?
Bread Financial Holdings, Inc. responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 9987855 filed?
Complaint 9987855 was received by the CFPB on August 31, 2024. It was sent to Bread Financial Holdings, Inc. on August 31, 2024.
What state was complaint 9987855 filed from?
Complaint 9987855 was filed from New Jersey. You can view all complaints from this state at /state/NJ.
Was the consumer satisfied with the resolution of complaint 9987855?
Dispute information is not available for complaint 9987855.
What product category is complaint 9987855 about?
Complaint 9987855 is categorized under "Credit card", specifically "Store credit card". This is one of the product categories tracked by the CFPB.
How was complaint 9987855 submitted?
Complaint 9987855 was submitted via Web. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 9987855?
This complaint likely falls under consumer protection laws related to credit card account management and dispute resolution. This relates to a Credit card complaint against Bread Financial Holdings, Inc. involving "Other features, terms, or problems".
How likely is complaint 9987855 to be resolved?
Resolution likelihood: unlikely. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 9987855?
This complaint is rated as low risk. The complaint was closed with an explanation, suggesting the issue was addressed or clarified by the company, posing minimal ongoing risk.
What regulatory actions apply to complaint 9987855?
Companies must provide clear and timely explanations for account closures or adverse actions taken on credit accounts. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit card industry.
What should the consumer do about complaint 9987855?
Consumers should carefully review the explanation provided by Bread Financial Holdings, Inc. to understand the resolution of their store credit card issue.
Are there state-specific protections for complaint 9987855?
The complaint originated in New Jersey, and any state-specific consumer protection laws would apply. This complaint was filed from New Jersey.
How does complaint 9987855 compare to industry norms?
Store credit card companies often face complaints related to terms, fees, and account management, with resolutions varying by company policy and regulatory oversight.
What specific explanation was provided by Bread Financial Holdings, Inc. for closing the store credit card account?
The provided data indicates the complaint was 'Closed with explanation,' but the specific details of that explanation are not included.
Were there any specific terms or features of the store credit card that led to the complaint?
The complaint mentions 'Other features, terms, or problems' and 'Other problem,' suggesting the issue was not a standard billing dispute but related to the card's conditions or usage.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.