Consumer complaint received 2021-02-12
Company: GOLDMAN SACHS BANK USA
State: CO
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 customer service

Complaint:
I opened a Credit Card account with Apple that is serviced by Goldman-Sachs on XX/XX/XXXX. The reason for opening this account was because they offered " no interest '' and to give you money back if you purchase Apple products with that card, which was my intention, due to my previous XXXX being destroyed at work. On XX/XX/XXXX I closed the account to consolidate my debt and keep me from using that card. When talking to the representative, he set the expectation that I am expected to pay the remaining balance on the card, which I knew and agreed with. In XXXX, XXXX, I paid {$400.00}, XX/XX/XXXX, I paid {$900.00}, and then XX/XX/XXXX I paid the remaining balance of {$1200.00} to XXXX out the account. At this point, I was under the assumption with the account being closed, paid in full on or before the end of the month, I would no longer have any obligation to that account and could move on to paying off my other debt. Goldman-Sachs then charged me interest in the amount of {$23.00}, and claim they notified me of a late payment. On XX/XX/XXXX I happened to open my digital wallet app where you manage the Apple Credit Card, and see that I have a late balance of {$24.00}. I immediately contacted a Goldman-Sachs representative. That representative then told me they would forgive the interest, and I paid XXXX cents to officially XXXX  the account for a second time. At this point in time, I assumed since they waived the interest, the late payment would be removed. Moving into XX/XX/XXXX, I had my mortgage lender pull my credit to get approved for a loan to buy a new home. I then found out from my lender that I had a 30 day late mark on my credit report from Goldman-Sachs. I then contacted Goldman-Sachs to try and solve this issue. Goldman-Sachs then told me they would file a dispute within the company. I also filed a dispute through all the credit reporting bureaus. That wasn't getting me anywhere, so I then called Goldman-Sachs to try and get as high in the management chain as possible to plead my case, and settle this as a misunderstanding that way I could have my credit fixed, so I could qualify for a conventional loan. I made it through to the third in management of the customer service department, who told me that they can not transfer farther, but can submit a request to have upper management call me. Goldman-Sachs never returned my call, to which I responded with contacting the XXXX XXXX XXXX. After submitting the complaint to the XXXX, I called Goldman-Sachs and found out from a representative that they would not be removing the mark. I asked to speak with that higher level of management, which they replied with, they will be calling you to explain why. Again, I never received a phone call. As of today, I received the response from the XXXX  where Goldman-Sachs again denies my request to remove the late mark on my credit. I disagreed with their request to close the complaint, and am continuing with my complaint through the XXXX. 

I have come to CFPB in hopes to find a resolution. This mark on my credit report has dropped me 70 points, which can last up to 7 years, all because of Goldman-Sachs not properly outlining their terms and conditions, and in my personal opinion portraying information falsely. In their advertisements, they boast " no interest '', " No interest if paid in full on or before the end of the month. '' I paid within the month, never had a late payment, and even with the account closed and paid in full by the end of the month, they charged me interest, and caused me to have a past due payment, in turn causing me to loose 70 points on my otherwise " perfect '' credit. I have never had a late payment, even when I lost my job. I feel that Goldman-Sachs advertises information improperly, and I do not want something like this to happen to someone else, who is trying to better their credit and get out of " bad '' debt.

Company response to consumer: Closed with explanation