Consumer complaint received 2023-06-19
Product: Credit card or prepaid card — Store credit card
Issue: Fees or interest — Problem with fees
Company: TD BANK US HOLDING COMPANY (NJ)

Target ( via TD Bank credit ) Target store card There was a penalty charge incurred after I thought I paid off the account in full. 

You had prior setup a deferment with the creditor due to Covid or a natural disaster and the creditor still marked you late.

I incurred a penalty charge/fee requesting the company to review the practice of assessing the late status and assigning a penalty due to my inability to attend to the charge account because of extended COViD and prior XXXX XXXX  illness. 

I reviewed my account when I was recuperated physically and saw the account was penalized as late and assessed a penalty charge for late payment/late interest. 

I reviewed the account in full and setup an interim deferred payment plan until I could reassess my financial status to repay that account, bring all accounts open in my possession, and resume a responsible payment pattern. 

Once I did this assessment a few days later, I then made ample payment to cover all outstanding charges and also a large portion of the outstanding balance over and above the customary payment. However, when I contacted the company to kindly review the situation and provide a courtesy goodwill gesture toward the account, I was informed that it would go under review. 

Quite some time ( more than a few weeks ) transpired without receiving additional account information. The company is notoriously tardy and lackadaisical about customer follow-up as is the comment on various credit and consumer educational and informational websites. 

I subsequently followed up with the company and informed them that everything had been paid except the penalty charge which I was told would go under review and received no response. I also requested that a goodwill gesture be made toward the account as it was a low amount of outstanding balance in question ( the penalty charge only ) and I had ample resources to pay this account off among many, in the aftermath of the pandemic environment, hardships due to same, and personal illness considerations. 

I then received a response that the late payment comment was validated and no reconsideration would be made with favor toward the account. My finances were in positive circumstances despite the pandemic disruptions and it was simply a matter of me attending to past tardy recordkeeping and once that was resolved, creditors were satisfied. 

I subsequently closed the account due to lack of goodwill extended by the company, higher credit lines being available, and a problem with the online system that permits credit account holders requesting a deferred payment plan to close out the plan because of an antiquated manner by which items have to individually be canceled for the entire series of intended ( minimum ) payments over various months until the balance is paid. I paid off the balance and attempted to complete this task and was informed that it had to cycle through several statement cycles in order to be negated or it would further show inability to complete the promised deferred payment plan. This is the 21st century with various programming and other website resources available to make it convenient for credit account holders to do business online without having to be at the mercy of watiing long wait times on customer service lines only to be given incorrect information, informed of back-end issues with system payment plans and other similar inconvenient issues. 

Therefore, in view of my having a closed account with Target and having sustained a XXXX late negative reflection on credit reporting bureau records as the only {$24.00} low value matter in several years with credit lines of over {$12000.00}, which is a totally avoidable mistake. I without the benefit of any consideration from the company for a mutual error, I have decided to escalate this matter with CFPB here for further presentation to the company for resolution. Thank you very much for your assistance.