Consumer complaint received 2020-10-22
Company: Colony Brands, Inc.
State: FL
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Confusing or misleading advertising about the credit card

Complaint:
XXXX XXXX has the following disclosure and/or advertisement on their website for your convenience I have enclosed their disclosure as well as the link to their website XXXX XXXX XXXX XXXX   XXXX XXXX Advertised Disclosure : " Does XXXX XXXX report to credit bureaus? 
XXXX XXXX reports information regarding its open, active accounts. Information reported includes all relevant historical information, including the account open date and the complete payment history. On-time payments to your XXXX  XXXX account are an effective way to build a strong credit report and improve your credit score '' Second Advertised Disclosure : How does XXXX XXXX XXXX work? 
1 ) In many ways, XXXX XXXX XXXX works in the exact same way as any store-branded credit card, however there are a few notable differences that make our plan more customer friendly. 

2 ) Our credit is not issued by or through a national or state-chartered bank. XXXX XXXX extends credit directly to you, so there are no third-party fees AND we can extend credit to people who might not qualify for traditional banks or store credit cards. 
XXXX XXXX XXXX is open-ended, meaning that you do not have a fixed number of payments, like a car loan or mortgage. 

3 ) XXXX XXXX XXXX is revolving so that your available credit increases and decreases based on your credit limit, how much you have purchased, and how much you have paid. 

As a result of the 2 above disclosures advertised on their website on XX/XX/20 I reopened my account with XXXX XXXX and utilized {$65.00} of the line of credit that was extend to me. I made all payments on time and received billing statements for XXXX, XXXX reflecting my onetime payments, balance, payment and closing date. Unfortunately, my information was never reported to the credit bureau as promised in the disclosure advertised on their website. Therefore, on XXXX I called XXXX XXXX XXXX Department the rep advised me that my account was reported to the credit bureau for XXXX as well as XXXX that I have a {$400.00} credit limit. The information should be reflected on my credit report within the next 24-48hrs, If I do not see the information reflected on my credit report by XXXX please callback. Therefore, on XXXX I called back to their Credit Department. I spoke with a different rep who advised me that the rep I spoke with on XXXX give me wrong information that I do not have a {$400.00} credit limit. In fact I do not have a credit limit at all and they will not report my account for 90days and/or 3billings cycles from the date that my account was reopened. Frustrated, with false advertisement and misinformation I called XXXX XXXX Corporate Office Colony Brand XXXX XXXX trying to get the correct information and this matter resolved. I spoke with XXXX Administrative Assistant.  She saw the advertised disclosure on their website and apologized about the misinformation that was advertised in the disclosure as well as the misinformation that was given to me by her Credit Rep on XXXX. However, they will not honor their disclosure that was advertised on their website. Also, they will not report my information to the credit bureau for 90days and/or 3billing cycles from the date the account was reopen. They will not report XXXX nor XXXX until the end of XXXX and my credit information will not reflect on my credit report until around XXXX. I reminded her that the disclosure advertised on their website does not mention anything about a waiting period of 90days and/or 3billing cycles before they report my information to all 3 credit bureaus. I told her this is unacceptable and very misleading and unfair to the consumer. Therefore, I asked why 90 days and/or 3 billing cycles? She stated that's their policy and the information advertised on their website is incorrect. However, she will put in a request to have the disclosure that's advertised corrected and/or updated. This a prime example of bait and switch as well as false advertising, misleading the consumer and unfair business practices. Not to mention a violation of my Fair Credit Reporting Act Rights. I have also filed a complaint with The Wisconsin XXXX XXXX XXXX. I am also filing a complaint with my State Attorney General as well as filing a complaint with Wisconsin State Attorney General. I have enclosed supporting documentation of my Statements for XXXX and XXXX

Company response to consumer: Closed with explanation