Consumer complaint received 2020-11-09
Company: Bread Financial Holdings, Inc.
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
On XXXX XXXX 2020, I received my first bill from Wayfair/Comenity Bank. After the transition from a store card to a XXXX XXXX, I never received my physical credit card nor any billing and as of XXXX XXXX 2020, my Wayfair account had a XXXX  balance. When I received my bill I did not understand how and why I owed money to Comenity and was being charged late fees and interest for an amount I did not believe I owed. I notified Comenity immediately upon my being put on notice of the charges that I did not believe were valid and not made by me. I requested that Comenity Bank place the charges in dispute - both on a recorded line and via secure messaging. I was told I needed to talk to Wayfair and discussed the issue with XXXX. He said that he saw there should be " at least '' {$42.00} credited back to me and said he would initiate a refund immediately. He sent an e-mail verifying this refund was credited back to me. When I called a couple days later, I was told that the suspected fraudulent charges were not placed in dispute. I again requested the amount be placed in dispute on a recorded line and via secure messaging. I was also told that no credit was issued from Wayfair - despite my explaining that I have an e-mail saying that this was done. Instead of providing the valid credit and investigating my claim, they did nothing. On XXXX XXXX 2020, Comenity Bank issued a letter - received by me on XXXX XX/XX/2020 - stating that they needed more information to investigate my claim. The dispute ID was XXXX. On XXXX XXXX 2020, Comenity Bank issued a letter stating that they received my claim and were researching it. They did not provide a dispute ID. They also stated that I was " not paying on any disputed amount, applicable finance charges or fees during the investigation. '' As of XXXX XXXX 2020, Comenity Bank has not issued a temporary credit for the fully disputed amount, they have not posted the credit from Wayfair in the amount of {$42.00} and they continued to charge me interest and late fees on an amount that is in dispute which is directly in violation of their own user agreement. It is ironic that instead of posting the credit of {$42.00} which is not in dispute that was owed to me, they are charging me fees of {$42.00}. Something here is just wrong with how Comenity Bank operates and how they interpret federal law. I plead CFPB to look into this not only for me but for the many other customers who may have been cheated during the change from a store card to a XXXX XXXX. I understand that mistakes can easily be made and Wayfair itself was professional enough to admit that they owed me " at least '' {$42.00} and they said that amount was credited. However, Comenity has done something with that money, and also I still can not determine how anything was owed to Comenity after XXXX XXXX 2020. I am also at a loss to determine how Comenity Bank is able to continue to accrue late fees and interest on those late fees for an amount that is currently in dispute. The form letter that I received states " we value you as a customer '' and it is signed by their XXXX XXXX team. I wish they would read their own letters and actually value a customer. Instead of helping get to the bottom of things as I begged them to do many times, they are charging me fees and interest on those fees. Once Wayfair and Comenity Bank can show me in the transition what is owed - subtracting out the fees and interest and the {$42.00} I am prepared to pay as I always have in my nearly 30 years of having credit cards. I have never had so many problems in such a short amount of time with any other financial institution.

Company response to consumer: Closed with explanation