Consumer complaint received 2018-01-28
Company: Bread Financial Holdings, Inc.
State: NY
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Fees or interest
Sub-issue: Unexpected increase in interest rate

Complaint:
We ordered 3 pieces of furniture from XXXX XXXX on XX/XX/XXXX for {$XXXX} The offer when buying this furniture was either 12 months 0 % financing or Store Rewards when using your XXXX XXXX credit card. I signed up for the credit card with 12 months 0 % financing. When the first bill came in the mail, I paid {$XXXX} towards it on XX/XX/XXXX ( minimum payment was {$XXXX} ). This was paid ahead of the due date ( XX/XX/XXXX ). When the second bill came, I looked at my account and saw there was a finance charge of {$XXXX} from XX/XX/XXXX. I called XXXX XXXX ( the bank behind the XXXX XXXX credit card ) and they confirmed I was charged interest and said they would get it fixed. This was on XX/XX/XXXX. 

After being on hold for 15 minutes, someone picked up the phone but they were from XXXX XXXX XXXX. They said they couldnt help me and transferred me back to the bank. Again I explained the issue to a new representative, and they said they would have to transfer me back to the store. I told this representative that I had just been through this, so Im hoping the next person will be able to help. They said yes, that this new department deals with this exact issue. Again I was put on hold and a sales associate from the online orders department picked up. She said she could not help me as she handles online orders and isnt the bank. I explained my frustration and she eventually sent me to someone else. This final person said they would submit a dispute for me. 

In the meantime, my husband tried calling the store where we made this purchase. The associate who picked up new exactly the isssue and said XXXX, the XXXX, specifically deals with this issue. XXXX was going to call me the next day. 

Fast forward 1 week and I have not received any further communication about this. XXXX has not called and I have not received anything from XXXX XXXX. On XX/XX/XXXX I called the XXXX XXXX location where we made the purchase. I spoke to XXXX who again new exactly the issue. I explained that I need to speak to a XXXX. In the background, the XXXX on duty XXXX told XXXX that she couldnt do anything and to get my phone number so someone else could deal with this. XXXX took my information and also confirmed that she could find my purchase in the system and that it was the sales associate XXXX that originally handled my transaction. XXXX said XXXX will call me the following day when she is in. Again I explained my frustration but nothing has been resolved. 

To avoid any more interest charges, I scheduled to pay off the entire credit card balance on XX/XX/XXXX. However this isssue is not closed. XXXX XXXX is using fraudulent financial practices. I agreed to the financial terms of 12 months 0 % financing and they did not honor that. Even more so, they havent done anything to help me. They acknowledge the mistake and are well aware that this is an ongoing issue, but they refuse to do anything about it. They are harming the community financially. Secondly, I expect a refund of {$XXXX} for the fraudulent interest charge.

Company response to consumer: Closed with explanation