Consumer complaint received 2024-05-30
Product: Credit card — Store credit card
Issue: Advertising and marketing, including promotional offers — Confusing or misleading advertising about the credit card
Company: Bread Financial Holdings, Inc. (CA)

I signed up for this credit card at my dentists office, and was not given any information other than there is no interest for 18 months. I was not given the chance to review what I was signing as they just asked me to sign an electronic pad, so I never saw the actual documents. 

I was under the impression that this was 18 months of no interest, and once those 18 months was over I would begin accruing interest. As it turns out that is not the case. I was shocked to find that because I didn't completely pay off the entire amount I owed back interest on the entire amount that I put on the credit card. As of now I am accumulating interest on the interest owed. 

I called and called the company and originally they said nothing could be done because they didn't have a " negotiation department ''. So I stopped paying the credit card. Once I stopped paying all of a sudden the company said oh yes there is a dispute department that you can send a letter to. Below I have copied the letter that I sent them on XX/XX/XXXX. They replied back to me and said there would be no change to my bill. So now I am writing this complaint in hopes that something can be done. 

This credit card is extremely predatory and after reading multiple reviews on the company it is clear that this has upset many people because they were also misled. I also work in finance and am very familiar with credit card terms and I have never heard of a credit card like this. 

XXXX XXXX XXXX  # reviews I hope we are able to make a change so other people are not hurt by this company 's predatory practices anymore. 

Thank you, " XX/XX/2024 To Whom This May Concern : I am writing to dispute the interest and late fee charges with my XXXX XXXX credit card ending in XXXX. 

I signed up for this credit card at my dentists office and was only told there would be 18 months with no interest. Like every other introductory APR credit card. I received the statement in XXXX and saw that I would begin being charged interest on the {$250.00} balance due and that was fine with me. I didnt mind paying 30 % on the last {$250.00} that was owed. When I received my XXXX statement, I was shocked to find that I had {$620.00} of interest added on. I called the customer service department before my next payment was due and I was specifically told there was nothing that could be done because there was no negotiation department. Then when your company called me after not making a payment miraculously there was a dispute department and Im able to write this letter. 

This is a predatory credit card, and I was misinformed and misled with complicated wording so that I would end up owing so much in interest. At the end of the day the company pushing these deceptive practices should be held accountable. The resolution I am looking for is to pay off my remaining balance of {$250.00} with no interest or late fees owed. If we are not able to resolve this, I will be filing a complaint with the Consumer Financial Protection Bureau to see if they are able to help resolve this as well. Please contact me via mail, email, or phone with the below information. 

Thank you, ''