Consumer complaint received 2024-02-05 00:00:00
Product: Credit card — Store credit card
Issue: Fees or interest — Problem with fees
Company: Bread Financial Holdings, Inc.
State: MI

Complaint narrative:
I used an XXXXXXXX XXXX XXXX to purchase furniture. I had stopped receiving statements from them both paper and electronic for a period of 4 months and assumed my credit card was paid off to avoid the penalty interest fee on the entire amount. 

There were no emails or paper statements for this entire period in my inbox, junk, or spam. I received a email statement on XX/XX/XXXX the day after the full interest of {$3600.00} accrued. 

They are required BY LAW to send me electronic statements if I opt into paperless statement. They have not done so. Nothing was sent to me ever until the day after the charged me the 29.99 % {$3600.00} interest on my full balance. 

I can show that i was opted in to paperless statements and NONE were sent. On Tuesday XXXX XXXX XXXX I reached out to them to tell them they had not been sending me a statement. Here is their reply : ( AND I have never had any problem receiving their emails before as I rec 'd the one sent on XX/XX/XXXX the DAY AFTER They charge me full interest. They intentionally stopped sending a statements to I would NOT be aware of and practiced deceptive techniques, so I would not continue to receive information about my account. 

The content they. have in here about making sure my emails don't go to junk is NONSENSE becuase i rec 'd the one the day after they charged me full interest on my account NO Problem -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - Their reply : After reviewing your account, I see that your account was enrolled in paperless statements on XX/XX/XXXX. 

Paperless statements are convenient and secure. 

Receiving a paperless statement is a convenient and secure way to stay updated on your account and reduce clutter. To ensure your email service does not treat the email reminder we send you as junk mail, please add the following email addresses to your list of contacts : XXXX XXXX Here 's how to switch to paper statements : If you still wish to return to receiving paper statements, please sign in to your account and change your enrollment status under 'My Profile. ' This may take one to two billing cycles to update. 

Please be informed that you can also view the last 24 months of your billing statements online. Please refer to the Account Activity tab in your online account access website. The statements can then be accessed by going to the Statements tab. You can then select the statement you would like to view. If your account had a XXXX balance with no activity, no statement will be available for that month and year. 

Thank you for inquiring about how to view statements for your account. 

We're happy to help! We have made it quick and easy to view statements from the account center. 

Here are the details : Simply login into the Account Center and follow these easy steps : 1. Go to the 'Menu ' tab and in the drop down menu, select the 'Transactions and Statements ' tab.

2. On the 'Statements ' tab you can view up to 24 months of statements. 

As a reminder, you can view your year-end summary for 12 online along with the last 12 months of statements. You can also download and print for your records! 

Pleased to be informed that your 24 Months Low Apr, Equal Payment plan has expired on XX/XX/XXXXXXXX  Your promotional plan purchase of {$10000.00} is a 24 Months Low Apr, Equal Payment plan, and is assessed interest each month at the lower APR on your plan. If the plan balance is not paid in full when this promotional plan ends, then any unpaid balance will be added to your regular account balance and will be assessed interest at your regular purchase APR until paid in full. 

We are unable to remove finance charges because they are accurate. To avoid finance charges in the future, the full statement balance would need to be paid in full by the due date, even if you are waiting on return credits to post to the account. 

Your current balance is {$5700.00}. 

Your minimum payment is {$280.00} and it is due on XX/XX/XXXX. This information is also available in Account Center and on your monthly billing statement. You can also call our automated system 24 hours a day to hear your balance and minimum payment information. 

For more details your can contact our customer care team XXXX. 

We appreciate your business- and we appreciate hearing from you. If you have any other account concerns, we're always happy to help.

Company response to consumer: Closed with explanation