Consumer complaint received 2024-01-09
Product: Credit card — Store credit card
Issue: Fees or interest — Charged too much interest
Company: Bread Financial Holdings, Inc. (MD)

I just logged into my XXXX XXXX  XXXX credit card and was shocked to see that I have been charged {$2100.00} in interest charges! Mind you, for the last several weeks I have been waiting for a balance transfer to get processed as my promotional interest rate of 0 % was ending last month with XXXX XXXX  XXXX. Therefore, I did a balance transfer to XXXX XXXX  but the check was sent to the wrong address ( per the chat agent from XXXX XXXX XXXX ) so I had XXXX XXXX stop payment and reissue the check. Turns out the address was correct after all because XXXX XXXX  XXXX cashed the check of {$2500.00} and then returned the payment the same day on XX/XX/XXXX. XXXX XXXX has since reissued a new check to a different mailing address the XXXX XXXX  XXXX agent provided me and I am awaiting this check to get processed to close out this account. I have been in communication with XXXX XXXX  XXXX via phone calls and sending them emails to get an update as to why I was also issued a returned check fee of {$30.00} when their company provided me the incorrect address to begin with. They allege that a " return payment fee applied to an account when a payment is returned due to insufficient funds in customer 's account or customer 's credit account is linked to an old or incorrect checking account. The returned payment fee can not be removed unless it was caused by an error at your bank. '' I have always been on autopayment and this error was not due to any of the reasons they provided above, but because of the incorrect information they provided for the mailing address. In addition, last month I attempted to make 2 payments which were both rejected. XX/XX/XXXXXXXX  was an autopayment for {$89.00} which was refunded to me on XX/XX/XXXX. The 2nd payment from XXXX XXXX was paid and returned on XX/XX/XXXX. The next day on XX/XX/XXXXXXXX  XXXX XXXX  XXXX then charged me a {$30.00} returned check charge. Then on XX/XX/XXXXXXXX  I made the usual autopayment of {$86.00} like I had been doing for the last almost 2 years. I have attached the latest statement which now includes a predatory interest charge of {$2100.00}! This is insane and I can not afford to pay this extra charge! I have paid on time every single month since opening this card in XXXX. Had XXXX XXXX  XXXX confirmed and provided the right mailing address to begin with, I would have left the 1st mailed check as is and not cancelled it because it was obviously mailed to the right address and cashed and then ultimately returned. They should be able to provide chat records as proof that they gave me incorrect information when I asked several times to confirm the mailing address last month prior to mailing out the initial check. Now, I have been charged a returned check fee and an astronomical interest rate fee of XXXX near the current balance that I owe. My statements for XX/XX/XXXX, XX/XX/XXXX, payment history excel sheet, and the copy of my emails to the billing department are attached. Please help me! I am a federal employee who should not have to pay an extra {$2100.00} on top of the current balance of {$2500.00}. 
Thank you, XXXX XXXX