Consumer complaint received 2024-01-31 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: Prosper Marketplace, Inc.
State: CA

Complaint narrative:
On XX/XX/XXXX, I paid the minimum monthly credit card payment of {$30.00} to Prosper Funding, LLC ( Prosper ), earlier than the due date of XX/XX/XXXX. By the way, I have never missed a payment nor ever been late. 

On XX/XX/XXXX, after the due date and after my payment, Prosper charged a {$39.00} annual fee that I was not even aware was associated with this card. That charge caused the account to be over the limit, so Prosper considered the XX/XX/XXXXXXXX  payment as " not paying the minimum due. '' Even though the payment had been made before the added charges. 

By XX/XX/XXXX, the minimum due had ballooned from {$30.00} to {$110.00}. I asked several times for Prosper to itemize the fees that caused this 370 % increase.On this date, XXXX, a customer service representative, stated that I was " charged a {$45.00} over the limit fee '' but could offer no further explanation for that huge increase in the minimum due. I asked for the " over the limit '' fee to be waived as this was the first time I was " late '' or unable to make the minimum payment. I also questioned how it could be legal for Prosper to create the circumstance in which the account went over the limit, then charge a penalty for that specific circumstance. Not surprisingly, there was no response or even acknowledgment of my question, bur she did offer to add notes that she authorized a late fee waiver onceI had brought the full payment. 

On XX/XX/XXXX, I paid {$45.00} of the {$110.00} minimum prior to the due date, while awaiting a response to my waiver request and request for explanation/itemization of the increase. I was eventually told the waiver was denied, with no explanation for the added charges. 

On XX/XX/XXXX, the minimum due increased to {$180.00} ( a 67 % increase in ten days ). I spoke with XXXX or XXXX (? ) again requesting explanation/itemization and asked specifically about the over the limit fee. She (? ) stated, " No there is no over the limit fee, '' but could offer no further explanations for the added fees/charges nor attempt to explain how the minimum due had increased, yet again, other than " Well, your account is over the limit. '' I asked again for an itemized statement that delineates each additional charge to explain how, in little over a month, the minimum payment went from {$30.00} to {$180.00} as the additional charges are not shown on the XXXX or XXXX statements. XXXX stated she could see no fees, but still could not explain why the minimum due was now {$180.00} and would have someone get back to me with an itemization. Again, not surprisingly, there was no reference to the offer latefee waiver. In fact, there was no explantion of the exact amount of the late fee charge. 

Today, I received an email under the heading, Issue Closed - Reference ID # : XXXX that simply stated, " ... we noticed that your payment in the month of XXXX did not reach the minimum payment amount. Therefore, the minimum payment has increased to {$180.00} ... '' Regardless, taking into consideration the annual fee, the over the limit penalty and interest charges combined, and considering there have been no purchases made, still does not justify such significant increases. As there are no itemized charges on any statement, and the employees can not offer explanation for the increase, only a demand for payment, I had no other choice but to file this complaint in the hopes of some relief, and, hopefully, penalties to this company. Again, Prosper Bankcard should not be legally authorized to create a detrimental circumstance for the consumer who is then charged a penalty for that specific circumstance. Nor should it be legally authorized to arbitrarily charge additional fees with no explanation or documentation. If Prosper is allowed to continue this practice, imagine the dollar amount accumulated over all consumers, over all accounts, each year.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief