Consumer complaint received 2018-01-09
Company: Bread Financial Holdings, 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:
On XXXX XXXX, 2017, I called XXXX  customer service to inquire about a purchasing a new sofa and desk. I asked about how the promotional deferred interest offer would apply to my order was advised that the store credit card company, would apply the promotion based on the amount of the order. 

Immediately to confirm this information, I contacted XXXX XXXX credit card the Bank whom is XXXX XXXX to inquiry if I qualified for this promotion should I make the decision to purchase these items, was asked the amount of the order which was roughly over {$2000.00} they said, yes, that qualifies within the parameters. So, I did just that, when arrived home after work I completed my order # XXXX in the amount of {$2100.00}. Ever since that date, I have called XXXX XXXX daily to inquiry why the deferred interest was not applied, no one including three supervisors can explain to me what happened. 

I have directed them to the terms and conditions listed at https : XXXX Read : 3. Earning Points or Deferred Financing. You will earn Points for Net New Purchases less than {$1000.00} on your Account OR if the purchase is equal to or greater than {$1000.00}, you can choose between earning Points or the Deferred Financing option so long as your Account is in Good Standing. You will earn : One ( 1 ) Point for each {$1.00} of Net New Purchases on transactions less than {$1000.00} and One ( 1 ) Point for each {$1.00} of Net New Purchases on transactions equal to or greater than {$1000.00}, if the Reward Dollars option is chosen. If the Deferred Financing option is chosen for Net New Purchases equal to or greater than {$1000.00}, you will not earn any Reward Dollars, however you will receive : 12 Months Deferred Financing - No interest if paid in full in 12 months. Interest will be charged to your account ( at the standard APR ) from the purchase date if the purchase balance is not paid in full within the promotional period or if you make a late payment. Minimum monthly payments for this plan during the promotional period will be the greater of : the amount of {$5.00} or 1 % of your account balance ( rounded to the nearest dollar ). XXXX XXXX Credit Card Accounts are offered by XXXX XXXX which determines qualifications for credit and promotion eligibility. At no time will the minimum payment due be less than {$25.00}. Minimum Interest Charge is either {$1.00} or {$2.00}, depending on when you opened your account. The standard APR is either a variable APR of 25.24 %, based on the Prime Rate. Required minimum purchase of {$1000.00}. See your Agreement for details specific to your Account. 

" Net New Purchases '' means purchases of goods and/or services made by you or any Authorized User on your Account minus any returns, refunds or credit adjustments, rounded to the nearest dollar. Points awarded for purchases that are returned or refunded or otherwise adjusted will be deducted from your Point total. Such deductions may result in a negative Points balance, in which case, any Points you earn will be applied to reduce that balance and you will not be able to redeem Points until you again have a positive balance. 

After several follow-up calls, emails and letters sent to them nothing has been resolved. To make matters worst, based on the terms I was never given the option for points or deferred payment since I was told directly that they would apply.I find this unacceptable that a credit card bank would not comply with their own rules and expect the client to pay over {$58.00} in interest a month while they look into the dispute without a full resolution. 

Could you please help! 
Respectfully, XXXX XXXX

Company response to consumer: Closed with monetary relief