Consumer complaint received 2023-05-24
Company: Bread Financial Holdings, Inc.
State: CT
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with balance transfer

Complaint:
I had one Promotional Transfer on my account that I initiated on XX/XX/XXXX for 0 % that expired on XX/XX/XXXX. I made a payment of {$1900.00} on XX/XX/XXXX which was the sum of my minimum balance and the remaining promotional balance owed at that time. I was told I needed to wait for the payment to fully post to my account before calling in to Customer Service to get that amount appropriately allocated. I complied and waited until XX/XX/XXXX to call back and get the correct amount applied, which was {$1600.00} shown on my XXXX statement. 

On XX/XX/XXXX the amount of {$1600.00} was put on my account as a Balance Transfer. That is six days after paying off that exact amount from my Promotional Transfer originating on XX/XX/XXXX. On XX/XX/XXXX a payment on my credit card statement shows for {$1600.00}. Then another Balance Transfer of {$1600.00} was put on my account on XX/XX/XXXX. I did not initiate these transactions. I called on XX/XX/XXXX to rectify and a dispute was put in by the representative over the phone. I continually checked my statements from then on. I called again on XX/XX/XXXX because I saw that nothing was resolved on my statements. I was told by that representative that all disputes are handled by paper mail and they take 90 days to resolve. I was diligent and waited over 90 days and received their XX/XX/XXXX dated notice on XX/XX/XXXX. The notice was not in my favor saying that my account was correct as it is. 

I called in on XX/XX/XXXX to further dispute these transactions. Spoke to a representative that got in touch with a few of her superiors. She was able to tell me that during the time of the transfers of {$1600.00} in XX/XX/XXXX and XX/XX/XXXX, there were no promotional offers available from the company. A second dispute was put in over the phone and I was advised to put in a secure message through the company 's credit card website. I put a secure message into the Company 's website on XX/XX/XXXX. On the same day, I also mailed in correspondence of the credit card and bank statements that need to be reviewed in relation to actual payments I made myself. 

I am writing to say that my account has been inaccurately handled from the moment I paid off that balance on XX/XX/XXXX. Here is the timeline according to my statements : XX/XX/XXXX : paid {$1900.00} = Minimum due + Promotional Balance XX/XX/XXXX : Called in to allocate {$1600.00} to remaining Promotional Balance XX/XX/XXXX : {$1600.00} Promotional Balance Transfer added onto my account XX/XX/XXXX : Monthly Payment of {$200.00} XX/XX/XXXX : {$1600.00} paid XX/XX/XXXX : {$1600.00} Promotional Balance Transfer added onto my account XX/XX/XXXX : {$15.00} Balance Transfer Interest XX/XX/XXXX : {$24.00} Balance Transfer Interest XX/XX/XXXX : {$26.00} Balance Transfer Interest XX/XX/XXXX : {$26.00} Balance Transfer Interest XX/XX/XXXX : {$26.00} Balance Transfer Interest The Original Transfer that I paid off on XX/XX/XXXX was not resolved and is still on my account with NONE in the place of an expiration for the plan. The remaining balance on that is {$1500.00} and is seemingly accruing interest. 

There is a second Promotional Transfer of {$1600.00} that says it was initiated on XX/XX/XXXX also with NONE in the place of expiration for the plan with a remaining balance of {$3000.00}. On XX/XX/XXXX {$1600.00} was added to this Promotional Plan to create a New Plan Balance of {$3200.00} as reflected on my XXXX Statement. All of these Transfers have not been initiated by me. All while the balances continue to accrue interest and my monthly payments have been partially directed towards each balance.

Company response to consumer: Closed with monetary relief