Consumer complaint received 2025-04-17 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with balance transfer
Company: Bread Financial Holdings, Inc.
State: GA

Complaint narrative:
I am writing to formally file a complaint regarding a balance transfer transaction initiated in XX/XX/year> between my XXXX credit card and my XXXX credit account. The transfer amount was {$3000.00}. While the transaction initially appeared as successful on my XXXX account, the payment was never received by XXXX, resulting in a late fee and negative impact on my credit report. Upon discovering the issue, I immediately contacted XXXX and was informed that no payment had been received. I then reached out to XXXX, who confirmed that the transfer had been processed and stated they would contact XXXX directly to resolve the matter. During this time, a credit was temporarily applied to my XXXX account. The following month, the {$3000.00} transaction was still reflected on my XXXX account, yet the payment remained unposted to XXXX. As a result, my XXXX account continued to show an outstanding balance, which negatively affected my credit score due to increased credit utilization. Additionally, I have accrued unnecessary interest and higher monthly payment obligations. Over the course of several months, I contacted XXXX via both phone and chat for updates, but was repeatedly given vague or unhelpful responses. Nearly a year has passed, and the matter remains unresolved. Both XXXX and XXXX continue to refer me back to the other, while my funds remain unaccounted for. In XX/XX/year>, I received a message via chat from a XXXX representative named XXXX XXXX, requesting an * Electronic Transmittal * and * Payee Inquiry Form *. When I contacted XXXX to request these documents, I was informed that they could not provide them. I relayed this information to XXXX and was later advised by another representative to submit a copy of the electronic transfer confirmation from my transaction history. With their guidance, I obtained the document and submitted it as instructed. However, XXXX later informed me that the documentation was insufficient to process the payment. It was eventually discovered that the payment was sent to an incorrect account number due to a single-digit error in the last digitspecifically, a 2 instead of an 8. I had used the automated system to initiate the transfer and carefully verified the account number input at the time. It is highly unlikely this was a verbal error on my part, and I believe the mistake may have been due to either system error or transcription oversight. Throughout this prolonged and distressing experience, I have made every effort to provide all requested documentation and cooperate with both institutions. In the midst of this situation, I also suffered the loss of my father, which has only added to the emotional toll. Each attempt to follow up has been met with frustration, lack of accountability, and repeated runarounds from both parties. At this point, I am out {$3000.00}, and neither XXXX nor XXXX has taken full responsibility or offered a clear path to resolution. I am requesting immediate action to recover the missing funds and correct the reporting on my credit profile. Please treat this matter with urgency. I am prepared to escalate this issue further, including filing complaints with the XXXX XXXX XXXX XXXX XXXX XXXX and any other relevant oversight bodies if necessary.

Company response to consumer: Closed with explanation