Consumer complaint received 2023-02-21 00:00:00
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: Bright Capital Inc
State: IL

Complaint narrative:
I opened a XXXX XXXX account with the financial management company, Bright Money ( i.e. Bright Capital Inc. through XXXXXXXX XXXX ), on XX/XX/XXXX. According to Bright, XXXX XXXX is a loan account that is automatically managed for you. Month by month, youll pay back the line of credit in automatic re-payments, which well handle for you, building a positive payment history. Your XXXX XXXX account also counts as available credit, which improves your utilization ratio, too. Both of those activities help boost your credit score -- and Bright does it all automatically. Every month, Bright gives you a small amount of money through that account, and then pays it back for you automatically. This helps build your credit score by creating a history of on-time credit payments that we can report to the credit bureaus. Every payment adds to your savings. Once the credit builder program is complete, you get your savings back. Win-Win! 

I synced this XXXX XXXX account with two checking accounts that I have through XXXX XXXX  and XXXX XXXX. Despite always having sufficient funds in these accounts, the XXXX XXXX technology consistently failed to sync with both of my banks and would not allow me to make any payments or log in to the app itself, as it would repeatedly glitch, freeze, and present unexplained error messages. I have reached out to Bright customer service via email, chat, phone, and mail countless times over the last year to report these ongoing issues, and have still not received any resolution. In XX/XX/XXXX, Bright falsely reported my XXXX XXXX account as delinquent to both XXXX and XXXX. As of today, XX/XX/XXXX, my account is still being reported as actively delinquent to both of these consumer reporting agencies. As previously stated, I have contacted Bright Money 's customer support team and management team multiple times to resolve this issue, but they have been unresponsive and unhelpful. 

I received a direct message from XXXX XXXX at Bright Money on XX/XX/XXXX, stating the following : We would like to inform you that our AI-based algorithm determines the date of collection towards the Credit Builder every month. It is based on the availability of funds and spending patterns as reflected in your checking account and withdrawals are made accordingly. Please be assured that your credit report will not be affected. 

On XX/XX/XXXX at XXXXXXXX XXXX, I received an email from XXXX XXXX at Bright stating the following : Really appreciate your patience. We understand the gravity of the situation and would like to help you out of this. Currently, our credit team is investigating the credit report submitted to the agency and will revert back as soon as we have come to a conclusion. Please allow us 1-2 business days more to update you on the same. Do let us know meanwhile, if you have any further questions. 

After being told 1-2 business days and not hearing any response from their team, I reached back out two more times and still have not received any communication or resolution. 


On XX/XX/XXXX at XXXXXXXX XXXX I received a voicemail from an individual at Bright ( from the phone number XXXX ) stating that this would be resolved within the next 24 hours. However, since that time, I have still not received any phone call, email, or other communication from their company. 

This inaccurate reporting has affected my credit score and has caused me significant financial harm. I am requesting your assistance in resolving this matter and ensuring that Bright Money is held accountable for their actions. I am attaching a copy of my credit report for your reference, which clearly shows the inaccurate information being reported by this company. I would appreciate it if you could investigate this matter and take appropriate action against Bright Money for their inaccurate credit reporting. 

Thank you for your time and attention to this matter. Please let me know if you require any further information from me.

Company public response: Company believes the complaint provided an opportunity to answer consumer's questions
Company response to consumer: Closed with explanation