Consumer complaint received 2025-01-17 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: VYSTAR CREDIT UNION
State: FL

Complaint narrative:
Subject : Complaint Regarding Unfair Billing Practices and Late Fees Dear CFPB Representative, I am writing to formally lodge a complaint against my credit union regarding practices that I believe unfairly penalize responsible customers like me. Despite my consistent efforts to manage my finances and make payments on time, the credit union 's inflexibility and recent policy changes have resulted in several unjust late fees.

I hold two credit cards with the credit union, with the following billing schedules : Card 1 : Statement date is around the 15th of each month, with payment due on the 9th of the following month.

Card 2 : Statement date is around the 20th of each month, with payment due on the 14th of the following month.

I receive my paycheck mid-month and have always paid both credit card bills promptly after being paid. However, a perfect storm occasionally arises when my payment schedule, the statement closing dates, and the banks grace period policies align in a way that results in one payment being late. For example, if a payment posts close to the statement closing date, it sometimes overlaps with the next cycle, leading to late fees. 

To address this, I am now working to adjust my personal payment schedule by delaying payments until the XXXX to XXXX of the month, rather than immediately after I am paid mid-month. While this change may reduce the risk of late fees, it feels unnecessarily burdensome to alter my habits solely because the credit union is unwilling or unable to accommodate my reasonable request to align the cards statement or due dates. 

Despite these challenges, I consistently pay well above the minimum amount and always strive to ensure my accounts are paid on time. Unfortunately, I have incurred over {$100.00} in late fees last year, including one instance where, during a particularly hectic period, I mistakenly made two payments to the same card and inadvertently missed the other payment. 

I appreciate that my XXXX XXXX recently credited {$25.00} to each of my accounts as a courtesy. However, these late fees feel punitive, especially given the extenuating circumstances and the fact that I have repeatedly requested accommodations that could prevent these issues in the future. 

The challenges I face are exacerbated by : **Inability to Adjust Billing Dates : I have requested that the statement dates or due dates for my cards be aligned to better match my mid-month paycheck schedule, but the credit union has refused or claimed this is not possible.

**Reduction in Grace Period : The grace period for payments was reduced from 10 days to 3 days approximately six months ago, further narrowing the margin for error.

As a consumer, I expect financial institutions to acknowledge the realities of human fallibility and demonstrate flexibility to help customers fulfill their financial obligations. While I take full responsibility for ensuring payments are made, I believe the credit unions inflexible policies contribute to unnecessary financial penalties for customers like me.

I respectfully request that the CFPB investigate this matter and take appropriate action to : **Encourage financial institutions to allow customers to adjust statement or due dates to align with their payment schedules.

**Review policies that disproportionately penalize customers for minor missteps, particularly when good-faith efforts to pay on time are evident. 
**Ensure late fees are applied in a manner that reflects fairness and reasonableness in light of a customers overall payment history. 

Thank you for your time and consideration. I am happy to provide additional details or documentation upon request.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief