Consumer complaint received 2019-08-18
Product: Credit card or prepaid card — Store credit card
Issue: Other features, terms, or problems — Other problem
Company: Bread Financial Holdings, Inc. (WI)

I routinely had about a $XXXX  minimum monthly payment on the subject card.  I am extraordinarily over obligated, and was barely able to accommodate the minimum payment.  In XXXX i went to make my scheduled monthly minimum payment of $XXXX  or so and it must have not processed properly.  As I thought it was paid, I didn't worry about it until I received a call from Comenity Bank.  The representative confirmed that "I saw you logged in." and "when are you making the payment?!" Her tone was offensive and extremely disrespectful, so I terminated the call.  Now realizing that the payment didn't process properly, I knew it would be subject to at least a $XXXX  late fee.  This would spike the minimum payment to an unaffordable amount.  As this happened, prior to XX/XX/XXXX which was, at the time, the next due date, the minimum amount was $XXXX.  Which I could not afford to pay.  Now that my account is not in a current state, when I login to online account services a big red notification reflects the following: "If you're facing financial challenges, we may be able to help.  Please call our Customer Care team at XXXX for more information." to which I did.  I spoke with a male representative who informed me that my account was eligible for a 12 month program that offered a lower minimum payment of $XXXX/month for 12 months.  I asked if the interest rate would be lowered for this period of time and was told no.  As a minimum payment is calculated based upon the outstanding balance, $XXXX would not cover even the interest that was due, and it made very little sense to me.  The $XXXX a month payment, as it is lower and more affordable, it does not cover the amount of interest accruing on the account monthly. After a 12 month period, I would owe more than i currently owe and would be in the same financial situation, the only difference would be $XXXX poorer.  The representative was not informed or trained properly and insisted that there was no change to the APR.  I was placed on hold several times while he sought misinformation from an associate of his.  I would not agree to this based on the terms i was provided as it was a way for the bank to profit from the arrangement, while trying to disguise it as a program geared to help consumers.  I would not let it go without more information, so i was cold transferred to a representative that did not speak very good English who was hard to understand.  Even though the representative was hard to communicate with, they were able to articulate that the interest is lowered to 10% during this 12 month period.  This makes far more sense than the terms that were initially described, so I agreed.  That representative hastily transferred me to a hardship representative that told me i was not eligible for the 12 month program and wasn't sure why i was told that.  This representative XXXX  was difficult and rude.  I was placed on hold for no reason upwards of 15 mins and was told that i could take a 60 month program that would close my account.  I told the representative that I wasn't interest in closing my account, and that I was interested in the program that i was just offered and told was eligible for.  He said it was not possible and wouldn't explain nor did he apologize for the misinformation.  Subsequent to this, as I'd been on the phone for almost 40 mins, I agreed.  After he disclosed the new payment amount and how the program worked, I was asked when I could make the payment.  I advised when I could make the payment and was told since I couldn't make it that day, to call back and enroll in the program when I was able.  I asked why if it was a requirement to pay today, why I wasn't informed of that at inception of the call.  So i spent 40 mins on the phone for no reason at this point.  On XX/XX/XXXX when I could make the payment, I called back as instructed and could not find a person to speak with.  I called back on XX/XX/XXXX and was directed to the hardship department who disclosed the terms of the agreement.  At this time I was told "You can make a payment anytime within the same month and it'll be fine." Okay, so that's yet another difference in information that I was provided.  Great.  The following Tuesday XX/XX/XXXX, I logged in to check on the terms of my account, which had not yet been updated.  When I log in this time, I am solicited to either send a secure message through the app or call customer service.  I sent a message asking when my account would reflect the update and received a reply that my account was not enrolled in the Hardship program as described above and that I needed to call.  Reluctantly, since I have never received consistent information nor has my account been updated properly, I called.  I was told that there is no reflection of the hardship program enrolled on my account as I was NOT eligible.  But, I was eligible for a 12 month program as described at the beginning of this complaint.  I went over the program with the representative, who was very sweet and seemingly helpful and who set up 12 monthly payments on the account.  I was then transferred to a confirmation line that explained the payment and stayed on the phone until the system hung up.  So, I figured my account was scheduled to be updated.  I inquired about credit reporting and was assured that nothing negative would be reflected because the account adjustment would update everything.  On XX/XX/XXXX, my account was still not updated.  I sent a secure message asking when it would be, and made certain that I was not interested in calling, and to not even suggest it. The reply i got to that message said nothing but to give them a call to discuss.  What is the issue? Why is no one trained to perform their job duties? Why is there not respect for me as a person or respect for my time? Why am I offered assistance and granted said assistance, but my account doesn't reflect it? All of this was stalled for the bank to profit off of the accrued interest and late fees, and to report my account as past due and having missed payments which would not be true if my account was updated timely.  This violates my consumer rights under the FCRA, false negative information being transmitted to the credit bureaus.  I am under the impression that I am offered assistance when I am not.  I don't even understand how this bank is in business, profiting off of misleading consumers and they don't even use those funds to implement training of current staff or the hiring of adequate staff.