Consumer complaint received 2023-11-03
Company: Bread Financial Holdings, Inc.
State: CT
Product: Credit card
Sub-product: Store credit card
Issue: Fees or interest
Sub-issue: Unexpected increase in interest rate

Complaint:
I made a purchase at a jewelry store on vacation in XXXX, Florida. I was asked to open a Diamonds International Credit Card with no interest to make the purchase. There had been NO explanation to the promotion offered or the details with the merchant. I paid my monthly payment every month on time online. My last payment, made on time on XX/XX/XXXX was made online. I tried to review my APR with some searching. It was not easy online on the Diamonds International website and the information was not clear in view. I could not open any previous statements with ease as my paper statements were unavailable at the time. The online statements were simply unavailable, unable to open. 

I was unaware of the APR and the promotional time period would be expiring because it was not visible on the online pages of the Diamonds International online statement. The full balance of {$2200.00} was in BOLD type along with my credit line amount and minimal payment due. Promotional information was NOT visible or available. 

On XX/XX/XXXX, I opened mXXXX XXXX XXXX XXXX XXXX account online to make a payment. To my surprise, {$1900.00} in compoundable interest was posted to my account on XX/XX/XXXX, with no notable warning, expression or reasonable announcement on this online portal. I called customer service on XX/XX/XXXX at Diamonds International for information and to request the charges be removed on my account. 
I had consistently made my on time payment. I had made a complaint that the promotional information was NOT clearly posted online and they said NO, they could not reverse the charges. I offered to pay my bill in full if he would kindly remove the charges for the interest and he still said NO. I mentioned to the representative that I had a very sick husband that had suffered COVID as well as a secondary illness that has made him continually sick for over a year and he still would not offer to help me. 

Upon the second time calling customer service on XX/XX/XXXX I requested for a second time for the charges to be removed due to the company 's lack of information offered online. I was told NO for the second day in a row and that I will need to pay the full amount of the new bill for a total of {$4100.00}. I asked for a concession and to please remove the compounded interest as I was NOT informed of the upcoming promotional charges and times this promo had expired. She explained to me if I had called within 72 hours of my due date on XX/XX/XXXX, Diamonds International and Comenity Bank could have reversed the interest added to my account and removed it. I explained this was stated NO WHERE on the online statement. The customer service representative then stated there were plenty of announcements on my paper bills that had been mailed to me. I explained due to my husband 's severe XXXX related diagnosis and his illness for the past 18 months, I was traveling with him for treatments and had not received any of this information or read any of this information. I explained he had been sick for a long period of time, out of work and unable to function. I offered to pay my balance in full, if she could provide me with a credit to the compounded interest of {$1900.00} The customer service representative would not offer to help me in this situation, that included a Covid hardship, or transfer me to supervisor to offer a logical resolution. I told her the information for promotional periods was not made clear on their payment portal website and it was very misleading for me to be told some of the details of the agreement with COMENITY bank that applied to me that was NOT clearly written on the online website while I made my payments in the past. The only information offered in BOLD face type was my credit line, my balance and when my minimal payment was due. 

My other larger bank credit cards have this information clearly posted for consumers to read, specifically WHEN a promotional period is ending. Diamonds International and COMENITY Capital Bank and Bread Financial are confusing consumers by NOT posting the proper information on their websites and payment portals to provide consumers with the knowledge and power to make sound financial decisions. I was not offered any help with my bill from a XXXX hardship we were experiencing in my family.

Company response to consumer: Closed with explanation