Consumer complaint received 2025-03-29 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Getting a line of credit — 
Company: CHERRY TECHNOLOGIES INC.
State: CO

Complaint narrative:
I had a membership with XXXX XXXX XXXX and they offered financing through a company called Cherry back in XXXX XXXX XXXX XXXX Their portal advised that you can apply with no hit to your credit score for a payment line to be used at the XXXX. 

I completed the application and was approved for {$750.00}. Subsequently, I received several denial letters advising I was denied for not XXXX XXXX XXXX XXXX. I utilized {$350.00} of the {$750.00} I was approved for which went through fine. The following month, after making payments, I attempted to use the remaining funds and again received a notice telling me I was not approved as I didn't XXXX XXXX XXXX XXXX The system would also not process the remaining funds. 

When I called Cherry, I was told that each time I log on to the website it runs an algorithm to identify if I am approved. They then told me that I was not approved and had no remaining funds. When I questioned the remaining funds, they told me that I had to use all of the {$750.00} at one time or I would lose those funds. No where did it say that in the contract that I could find or on the website. It clearly states that your approvals are good for XXXX XXXX and I was within the XXXX XXXX when I tried to access the line. 

I asked to have a manager return my call which they flippantly said they would. I never heard back. I informed them that I believed their practice to be deceiving and predatory and wanted to have the matter handled before I resume payments. 

From that point on, they bombarded me with calls and emails advising that I had a payment due and that my account was past due. I then received an email on XX/XX/2025 from what appeared to be their collection team, on their letterhead, offering me a reduced payment of {$18.00} to bring the account current with a link to click to make the payment. I clicked on the link and it didn't take me anywhere. I then called them to inquire about the offer and to let them know the link didn't work. 

I spoke with an agent named XXXX, who advised that the offer was not from them and probably was a scam and would I forward the email to her. I went through the whole story with her about the frequent and not requested soft pulls of my credit and the fact that I kept being denied for XXXX XXXX XXXX XXXX She said " That's weird, we don't even do XXXX XXXX loans ''. 

I forwarded them a screenshot of the scam email, and the agent who received the email on the Cherry side said thank you and asked if I wanted to take advantage of the reduced payment? That feels very much like a bait and switch tactic to me. If you believe and are advising that the reduced offer was fraudulent, and then turn around and ask if I want to take advantage of the offer, there is something shady about that. 

At this point, I advised them that I was going to file a complaint against them and requested that they Cease and Desist from calling me, emailing, or contacting in any other form than mail. They emailed me back and asked if I could call into them. I advised that I had just requested a cease and desist. Then XXXX days later, I receive another email from them attempting to collect the debt. And I just received another email from the Collections Team last XXXX. 

Finally, they reported their account to the credit bureaus only when the account is past due. They don't report active and current loans. I believe that to be a form of disparaging treatment. If you are going to report to the bureaus, then it should be done when the loan is taken out. 

While I understand that I need to pay the debt for the funds I borrowed, and I will, I believe they are a deceptive and predatory lender. They need to remove that collection line from the three major bureaus, and once it's removed I will pay the balance in full. 

Please let me know if you have any questions or concerns. 

Many Thanks! 
XXXX XXXX

Company response to consumer: Closed with explanation