Consumer complaint received 2024-12-07 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Incorrect information on your report — Account status incorrect
Company: GOLDMAN SACHS BANK USA
State: CA

Complaint narrative:
I am submitting a formal complaint against Goldman Sachs and Apple Card regarding what I believe are unfair and abusive business practices, particularly concerning their failure to provide proper billing statements and account notifications, which has negatively affected my credit standing. 

Background : Fraudulent Charge and Account Lock : On XXXX XXXX XXXX I discovered a fraudulent charge of {$24.00} on my Apple Card when I payed my XXXX bill, and immediately contacted Apple via their support chat to report the issue. Apple acknowledged the fraudulent charge and reversed it on XX/XX/XXXX. However, without my knowledge, my Apple Card account was locked due to the fraudulent charge and the fact that the chat session with Apple support ended unexpectedly due to connectivity. I believed the issue had been resolved at that time. 


Failure to Provide Billing Statements : After my account was locked, I did not receive any billing statements from Goldman Sachs/Apple Card via email ( XXXX ), which was my primary form of communication. The last email to me on XX/XX/2024, ( see attached ) was regarding the fraudulent charge reverse and the next email, XX/XX/XXXX, was after I had discovered the account lock and paid my outstanding bill. Additionally, I had recently moved, and all my mail was being forwarded to my new address, including Apple card statements. However, I never received any paper bills after the lock from Goldman Sachs/Apple Card , despite the fact that my mail forwarding was properly set up. 


Discovery of the Issue : I only became aware that my account had been locked and that payments were overdue in midXXXX XXXX, when I checked my credit report and saw late payment entries. Prior to this, I had not received any notifications or bills, either by email, phone or postal mail, informing me of the locked account or outstanding balances. The lack of communication left me unaware of any issues with my account until the damage to my credit score had already occurred. Up until this point, I have had nearly perfect credit for decades.

Impact on My Credit : Due to the failure of Goldman Sachs/Apple Card to send billing statements or communicate that my account was locked, I unknowingly incurred late payments, which have been reported to the credit bureaus and have negatively impacted my credit score. Additionally, this has prevented me from refinancing my home mortgage resulting in the loss of XXXX of dollars, as long as my credit is impacted. I believe this situation could have been avoided had Goldman Sachs/Apple Card fulfilled their obligations to provide proper notifications and statements. When I contacted Goldman Sachs about this via phone multiple times in XXXX and XXXX, my claim review was denied as they stated it was " fair and accurate reporting, '' to credit bureaus. 


Request for CFPB Intervention : I am requesting that the CFPB investigate this matter and determine whether Goldman Sachs and Apple Card have engaged in unfair and abusive business practices by : Failing to send me periodic billing statements or any form of notification ( email or mail ) informing me of my account status. 
Locking my account without proper email or mail communication following the fraudulent charge and support chat issue.

Reporting late payments to the credit bureaus, despite my lack of knowledge of the account lock and overdue payments.

Please find attached relevant documentation, including details of my communication with Apple/Goldman Sachs and any related correspondence.

Thank you for your attention to this matter. I look forward to your assistance in resolving this issue.

Company response to consumer: Closed with explanation