Consumer complaint received 2023-12-14
Company: Upgrade, Inc.
State: AZ
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
On XX/XX/2023 I contacted my financial institution to do a balance transfer of {$3200.00} from Upgrade credit card. I reached out to Upgrade credit card 25th and two payments that were made. The representative stated that they have not received the payment yet, but he assured me that once the payment comes in that they will backdate any accrued interest that may come in. It does take 2 to 3 weeks to process if its a check by mail. I called and spoke to the representative letting him know that I was paying two payments one of {$1400.00} and one of {$1800.00} to total my balance of {$3200.00}. The representative reiterated the correct amount of {$3200.00} as being the balance to be paid. I then for the month of XXXX, received an e- statement for a balance of XXXX dollars due for the month of XXXX as it should be when you have paid off your balance on your credit card. In XXXX, I received a E statement stating that I owed {$150.00} Due for XX/XX/2023. I contacted Upgrade via email to see exactly why I received a statement now for almost a month payment due. During these email reviews, they stated that the balance is accurate. I requested for the phone call to be pulled as well as documents to be sent to me because they stated in the email correspondence that I should have done a payoff quote. I advise them that a representative did not tell me anything about a payoff quote when I reached out to make sure that the payments were received, so I only paid what my statement said was due by the due date of XX/XX/2023. I did request to have my phone call pulled with that representative to have it verified that this was not something that was mentioned to me. Otherwise I wouldve made an adjustment to the payment. I was later referred to a department called resolution, and spoke with the person named XXXX, who refused to send me any documents, telling me how the payments were applied as well as reviewing the phone calls. He referred me back to the website to verify this information. I asked the representative XXXX if he reviewed the phone call he skipped around the answer and stated that my balance is what it is and that the {$150.00} is the remaining interest on the account and I asked him why did I not receive this information for the month of XXXX because it is considered almost a full month payment worth of interest? He stated that the balance, my principal balance was paid in full, and that this is the remaining interest because it is accrued daily. I ended the call with that representative, and I reached back out again to speak with someone else as he refused to give me to his superior to help validate and make this illogical response to what he was stating to me. After contacting the company back again, I spoke to several other representatives that stated to me that it was correct that I did pay my principal balance, and the remaining amount was due to interest. I questioned again why for the month of XXXX did I not receive a payment due if it was daily interest that was not paid? No one had a response to that other than my principal balance was paid and its remaining interest that is accruing daily interest. As stated on the phone calls to the company, the calls are recorded as well as I recorded calls myself, so I have four phone calls where there is verification that the representatives stated that this balance is strictly interest, and is occurring daily interest, and that my principal balances paid in full. I asked them as I was referenced back to the website to check the information regarding my payments to look at section 14.2 of the contract that I received electronically, verifying how payments are applied. After reviewing this information, I see that the statement is that payments will be applied to all unpaid interest first then the rest to the unpaid principal balance. Ive argued this point with several people, and as of today, XX/XX/2023 only one representative states that it is a principal amount of XXXX that is due not the interest. I advise this representative that six other people have stated that it is only interest and its accruing daily interest and I did mention to him that I believe that it is illegal to put interest on top of interest when there is no principal balance available. The representative continue to try to convince me that I was in the wrong, regardless of the fact that I proved to him that their contract states interest paid first and that they violated or breached their own contract. I asked the last representative that I spoke with today is he sure that the company does not want to take any responsibility on breaching their own contract and he stated no theyre not taking any responsibility.

Company response to consumer: Closed with explanation