Consumer complaint received 2025-02-10 00:00:00
Product: Credit card — Store credit card
Issue: Fees or interest — Problem with fees
Company: Bread Financial Holdings, Inc.
State: CA

Complaint narrative:
OUR COMPLAINT I am being taken advantage of by this bank. I have been a customer of Saks Fifth Ave for several years. A few years ago Saks contracted XXXX XXXX to service and collect payment for them from consumers. The due date for payment has been the 28 day of each month for many years. Prior to contracting with XXXX XXXX to handle and process their payments, the deadline to make the payment directly to Saks fifth ave was always on the XXXX day of each month before XXXX. If payment received after XXXX  the late fee was {$29.00}. I have always made my payment on time and was not aware that any of these banks had increased late fees to {$40.00} I was not aware of the transition between Saks and XXXX XXXX and was charged a {$29.00} late fee by XXXX  XXXX after issuing the payment on time to Saks direct. The late fee was reversed. Sometime last year, the same thing happened as I was not made aware of another transition from XXXX  XXXX to Comenity capital Bank. I was charged {$40.00} late fee by Comenity bank 3 times XXXX and XXXX of XXXX. When I asked why I was told that the payments must be received on the XXXX of each month. I told them that I made the payments on time and I should not be charged any later fees. XXXX XXXX a payment of {$200.00} was due. I made a payment via phone at XXXX XXXX  my time in California. I called Comenity bank immediately to make them aware that I just made the payment and I should not be charged a late fee. Only to learn that I will be charged an another late fee of {$40.00} as the payment was not received by XXXX XXXX  East coast time. I explained to them that I was not aware of any such cut off time as I am on XXXX XXXX  but XXXX XXXX  with a different time zone. I also told them that other credit card companies such as XXXX XXXX XXXX XXXX time stamps your payment on the date received as date of payment and collect the money from your bank within 2-3 business days. And that the only time a person would be considered late is if the payment was received after the last day to make the payment which made sense. they told me that they are not partners credit union. So what they have been doing, is when I made the XXXX payment on time XXXX XXXX, it shows pending for the XXXX instead of the date the payment received which is the XXXX. So they posted it as date received XX/XX/XXXX and took {$140.00} for interest, {$40.00} for late fee and only applied {$25.00} of the payment to the balance. And this has been going on for several months. I stayed up late the night of XX/XX/XXXX explains to them that they are wrong and they should reverse the late fee as they were taking advantage of me. if no had I was forced to tell them some choice words with the tears covering my face as its a choice that they have made to take advantage of me. See attachment for full text. the late fee of XXXX was reversed when the payment was also made on time but due to transition, as Saks changed bank again everything got crossed. If you take a look at the payment history, you will see my payments posted using the same date, the XXXX of each month that payments were received as the payment being received on time. I followed the same pattern not knowing that when comentiy bank took over, and I made my payment on the XXXX day as usual, comenity bank was taking XXXX of the payment each month as late fee. And their reason for doing so according to them, was that even though the payment was made on the XXXX day, because it was not received by XXXX east coast time it was posted using the date of the XXXX. Therefore they took {$40.00} each times. this is bold face fraud and they should be sued and shut down. when I saw the statement I cried so much it was painful ATTACHMENTS Referral Email- XXXX ( XXXXXXXX XXXX ) XXXX ( XXXX XXXX  ) Hide full complaint What product or service is your complaint about? 

PRODUCT OR SERVICE Credit card TYPE Store credit card

Company response to consumer: Closed with explanation