Consumer complaint received 2021-02-11
Company: Bread Financial Holdings, Inc.
State: MS
Product: Credit card or prepaid card
Sub-product: Store credit 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 XX/XX/2021 I submitted an electronic payment in the amount of {$80.00} for my credit account with Victoria Secret ( Comenity Bank ). I processed the payment using Comenity Bank 's automated phone system using my personal checking account I have with XXXX XXXX. Before Comenity Bank processed my payment of {$80.00} using my checking account the following terms were read by the automated system : " Payments made over the phone that are received by XXXX XXXX  EST will be processed the same day, payments made after XXXX XXXX EST, will post the next business day. '' After I confirmed and agreed to Comenity Bank 's terms and conditions the {$80.00} payment was processed and I was given a confirmation number for my financial records. On XX/XX/2021 I logged into my XXXX XXXX account online and saw in my recent transaction history the {$80.00} payment to Victoria Secret/Comenity Bank already processed and posted to my account. It was not until around XX/XX/2021, when Comenity Bank contacted me regarding the account payment due on XX/XX/2021. After giving the amount I paid ( {$80.00} ), the date the payment processed ( XX/XX/2021 ), and the confirmation number ( XXXX ) once the payment was processed successfully ; the Comenity Bank representative, XXXX, stated the confirmation number was not sufficient enough that I would need to also provide my bank statement reflecting the {$80.00} payment. Disagreeing with the representative, I decided to go online and login to my XXXX  account and view my transaction history for all of XX/XX/2021. Reviewing the transaction history is when I noted the transaction no longer reflecting in the transaction details as it did when I checked my checking account on XXXX XXXX, so I called XXXX XXXX. I spoke with a XXXX Banker by the name of XXXX, who told me that the payment did go out to Comenity Bank, but because my recent deposited check was still pending, my funds were not available at the time the payment was sent to Comenity, which was returned to XXXX, with no record of the returned payment as well as {$80.00} showing credited back to my checking account. I explained to XXXX that I get paid XXXX by Veterans Affairs and that my funds are never on hold or pending deposit to my account an additional two or three days after the first day of the month, which to my knowledge and understanding the way direct deposits are made by the VA have not changed or updated, therefore causing more concern for the vulnerability of my identity, finances, and most of all privacy. Around XX/XX/2021 I received in the mail, my statement for the Victoria Secret credit account due on XX/XX/2021. While reviewing the statement I noticed a few things. 1. The payment of {$80.00} showed as processed on XX/XX/2021, following that the payment was returned on XX/XX/2021. 2. In the category " Other Debits '' there is a charge of {$80.00}. 3. In the interest portion of the statement the terms and details are explained on how they charge interest, specifically noting that each balance on the account is charged interest separately. To my knowledge and understanding I only have one account, one card, one user ( myself ) authorized on the account how there are three different balances reflecting on my statement, with three different interest rates being charged, when I found on previous statements only one balance being charged interest. After reading how Comenity Bank calculates the APR interest rate using the " Daily Balance '' method and the " Average Daily Balance '' method which are both termed as they are both one or the same. In regards to the terms and conditions of payments that is noted by Comenity Bank on the monthly account statements state these words exact : " NOTICE ABOUT ELECTRONIC CHECK CONVERSION. When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction. When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day we receive your payment, and you will not receive your check back from your financial institution. 
However, no customer service agent from XXXX XXXX  or Comenity Bank can tell me where or who the payment for {$80.00} returned to, and why it never reflected back in my personal checking account balance or in documents regarding returned checks. Having no help from either business, I am hoping to find out and regain control of my compromised finances and have answers that are not contradicting of the terms and conditions of the financial institutions as stated.

Company response to consumer: Closed with explanation