Consumer complaint received 2020-06-19 00:00:00
Product: Credit card or prepaid card — Store credit card
Issue: Advertising and marketing, including promotional offers — Didn't receive advertised or promotional terms
Company: Bread Financial Holdings, Inc.
State: IL

Complaint narrative:
I made a purchase through XXXX XXXX  store and they signed me up for a credit card through Comenity Bank. I made the purchase in XX/XX/XXXX. The offer I received was no interest for 18 months. The credit card split up my balance into 18 payments. I have made every single one of my payments on time, with the  understanding that I will not owe interest at the end of the 18 months because I would have made all the required payments within 18 months. It is now XX/XX/XXXX, which is exactly 18 months later and I have made my final payment according to the pre-determined schedule that Comenity created for me ( they chose my payment amount ). 

I am now being told that I owe {$970.00} ( see statement attached ) as a finance charge because I failed to meet the 18 month promotional period. However, I made all my payments on time according to the schedule that Comenity set out for me. When I made the purchase they took my balance and split it up by 18 and told me that all I had to do was make my payments on time. I did all that and they are now telling me that I failed to meet the requiremen. It is obvious that they intentionally set up my payment amounts such that I would fail to satisfy the 18 month period by a few weeks. When I initially signed up, XXXX told me that all I had to do was make the payments according to the schedule they set up for me. 

I believe this is predatory and misleading. Comenity set up my payments in such a way that if I did everything right and made all my payments on time, I would still miss the 18 month deadline by only a few short weeks. 


I called XXXX and Comenity on XX/XX/XXXX, but they refused to assist me and told me that the statements should have warned me that I would lose this promotional period. That is misleading because I was making all my payments automatically based on them being split up into 18 payments to satisfy the promotional period requirement. I made all the payments automatically on time every month. I was their ideal customer and they still took advantage of me. Neither XXXX nor Comenity assisted me on the phone. It was very difficult to reach someone. I have now paid the {$970.00} because I am very scared of having my credit score damaged. I am a responsible consumer and have never been late or missed any kind of payment. 

I believe this was predatory and deceitful behavior on behalf of XXXX and Comenity. I  do not want any special treatment, simply to have my {$970.00} returned by check because I was promised a 0 interest purchase experience and I satisfied all the requirements according to the XXXX and Comenity representatives. They set me up on an 18 month payment plan, but they knew I would technically miss the 18 month deadline based on the plan THEY set up for me. I could have easily made the full payment at any time, but their initial sales pitch reassured me that I would not owe interest so long as I paid pursuant to the schedule they created for me. 

I believe the practices of XXXX and Comenity are a violation of the Unfair, Deceptive, or Abusive Acts or Practices law pursuant to Dodd Frank. 

The store information is Comenity LLC. This site gives access to services offered by Comenity Bank. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Accounts are issued by Comenity Bank. ( XXXX ) XXXX

Company response to consumer: Closed with explanation