Consumer complaint received 2022-03-13
Company: Experian Information Solutions Inc.
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Around XXXX of XXXX I opened a 0 % balance transfer account with XXXX to transfer around {$7000.00} from a high interest credit card. The card specifies that it's benefits include NO LATE FEES OR LATE PENALTIES. As you will note from my attached credit report, I have not had a late fee on my credit report in 20 years. All of my other accounts are on auto-pay except this one because given that the card promotes itself as a card that offers NO LATE FEES and NO PENALTIES for being late, I didn't think I needed to autopay this card. My plan was to pay it off before the 0 % period ended. Please see a link to the marketing for this card here : https : XXXX XXXX XXXX XXXX & XXXX XXXX XXXX XXXX XXXXZ I had a business trip to XXXX in late XXXX through early XX/XX/XXXX and had limited access to internet. I wasn't worried about paying this card late because of the nature of the card as stated above. I paid the card 5 days past the due date that I initially set, despite the fact that the card touts flexible due dates and again NO LATE FEES OR PENALTIES. 

I monitor my XXXX XXXX often, and about a week or so later noticed it took a big hit, around a XXXX or so point reduction. I was alarmed because I'm currently looking into buying both a new car and a condo. When I pulled my credit report, I noticed the late fee from XXXX was reported. I immediately called XXXX and spoke to XXXX ( Employee id number XXXX ) a customer service manager there on XX/XX/XXXX and after explaining the situation to her, she indicated she would alert the credit agencies to remove the late payment on my report given my stellar track record and the other factors related to how the card is marketed as having NO LATE PENALTIES. In addition, I went ahead and signed up for auto-pay with XXXX to ensure that this would never happen again. 

I also submitted a dispute with Experian to ensure that this late payment was removed from my credit report. I received notification on XX/XX/XXXX from Experian that this late payment will REMAIN on my credit report and will NOT be removed. 

This is causing tremendous mental distress for me given the upcoming loans I'm looking to get approved for. In addition, as mentioned above, the XXXX XXXX XXXX ( Employee id number XXXX ) on XX/XX/XXXX AGREED to submit a dispute on my behalf to the credit reporting agencies to REMOVE the late payment from my credit report. I'm asking for the Consumer Finance authorities to PLEASE help me in holding both XXXX accountable and Experian ( as well as all other credit reporting agencies ) for removing this late payment from my credit report. In addition, I believe that XXXX should change the way they are marketing a credit card that claims to have NO LATE PENALTIES because that is clearly NOT the case. If I had known that paying the card late would result in reporting that late payment to the credit agencies I would have NEVER signed up for the balance transfer OR certainly would have immediately enrolled in Autopay, the same way I have with ALL of my other bills and credit cards that I have paid on time for 20 years. I greatly appreciate your attention/ help with this matter. Thank you!!!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation