Consumer complaint received 2025-01-15 00:00:00
Product: Credit card — Store credit card
Issue: Problem when making payments — You never received your bill or did not know a payment was due
Company: TD BANK US HOLDING COMPANY
State: CA

Complaint narrative:
TD Renovate failed to send a copy of the monthly statement at the onset of the relationship. As a result of that oversight and neglect, I have continually incurred fees and was spun into a cycle of confusion regarding how payments were structured, applied and what was actually owed. 

My account was opened on XX/XX/XXXX, however the statement cycle that I was put on was XX/XX/XXXX through XX/XX/XXXX which was actually before I had an account with TD Renovate. I had not received any statements after the purchase I made and reached out to TD Renovate on XX/XX/XXXX inquiring about when my bill was due. Although I do not remember word for word the conversation that was had, I do know that once I hung up with the representative, I proceeded to enroll in online payments so I could receive my statements and pay my bills on time. 

Apparently, the day that I called to inquire about my bill was also the day that the first bill was due. My billing cycle was short 5 days so instead of a 30 day cycle bill, I was placed into a 25 day cycle bill with no idea of the terms and conditions, disclosures or anything else surrounding the account. No terms and conditions were given to me at the time of opening the account and to this day I have yet to receive any in the mail. 

When I enrolled in the account and connected a payment method, the payment method that was connected to the account was a XXXX XXXX account ending in XXXX. I used this account for several payments successfully and had no issues with unsuccessful payments. 

However, in XXXX of XXXX, XXXX payments that were processed online through the account that I had used several times successfully were now reported to be rejected due to the inability for TD Renovate to locate the account. The first payment with an issue was on XX/XX/XXXX and posted XX/XX/XXXX and returned XX/XX/XXXX. This issue with the payment caused my account to suffer a XXXX late payment reporting on my credit history when in the life of my credit at XXXX XXXX XXXX, I have never had one late payment to date. 

According to the previous complaint filed against TD Renovate, their customer service agent who handled responding to the report stated : " We received your payment ( XXXX ) of {$260.00} on XX/XX/XXXX, and on XX/XX/XXXX. However, the payments were returned due to reason code XXXX, indicating no account found. As a result of the returned payments, returned payment fees totaling {$70.00} was assessed to your account. '' Problem : The account that was registered was on the account for several months prior to the transaction. Attached are a list of the successful transactions that came out of the account ending in XXXX as well as a transaction statement from XXXX XXXX showing all transactions, amount of money in the account and other personal information regarding the external account that was designated for payment. 

Additionally, if one payment on XX/XX/XXXX was returned for no account found, the account was not blocked by TD Renovate nor did TD Renovate notify the customer in writing, through a message in the portal or through a phone call regarding the issue with the account. Due to account not being blocked or no communication being received by TD Renovate to the consumer, I, the consumer had no clue that there was an issue at all. If the payment was reinitiated it was based on the fact that the consumer believed that there was no reason for the transaction to be rejected as there was plenty of money in the account over $ XXXX. A payment for {$260.00} would have no problem clearing that account as there were much bigger transactions taking place during that time. 

Request : I would like the full account number that was used in the transaction disclosed to the consumer asap ( since it doesn't exist or could not be found, there is no jeopardy of compromise ). I would also like an explanation of why an account that is said to be nonexistent was allowed to remain in the portal and used to process an additional payment to the account. 

Also relative to the payment on XX/XX/XXXX, I contacted TD Renovate to find out if the transaction would post to the account and be included in the activity for that cycle as the statement closing date was XX/XX/XXXX. The customer service representative informed me that the payment would post prior to the statement closing. That was also untrue. 

I followed up with TD Renovate on XX/XX/XXXX to ensure that my payment would post to the current statement as it was processed before the closing date and I could not afford to have a 30 day late payment reporting on my credit report over an error. The representative informed me that if the payment was made before the statement closing date, it would be applied to the current statement and there was nothing to worry about. That was also untrue. 

On XX/XX/XXXX or somewhere shortly after, I received an alert that my account was reported 30 days late. I contacted TD Renovate and was told that the payment wasn't made on time as it was made on a Friday and would not post for a few days. The representative them referred me to read a disclosure where she stated that this information could be confirmed however to her surprise, the disclosure stated the exact opposite. According to the disclosure from TD Renovate : Pay Online : You may make a single payment or set up recurring payments to you Credit Card Account by enrolling in the Online Account Management service at : www.mytdfinancing.com/renovate.To enroll, you must enter your Account number, social security number, and zip code. Payments requested by XXXX XXXX  will be effective to your Credit Card Account on the same day. Payments requested after XXXX XXXX will be credited on the next day to your Credit Card Account. A payment requested by XXXX XXXX  on a weekend or federal holiday will be effective to your Credit Card Account as of the day you make the payment. '' It clearly states on the disclosure that payments requested by XXXX XXXX  will be effective on the same day. Payments requested after XXXX XXXX will be credited on the next day. Payments requested by XXXX XXXX  on a weekend or federal holiday will be effective as of the day payment was made. 

It was Friday, after XXXX XXXX  which would be considered a weekend before XXXX XXXX however the payment was not effective as of the date payment was made and did not become effective until XXXX or 4 days later. 

In the former complaint, the representative from TD Renovate stated : As confirmation, your payment of {$380.00} received on XX/XX/XXXX successfully posted to the account. Kindly note, if payments are returned due to invalid banking information entered, it is the customer 's responsibility to log into your online account and update your payment methods prior to initiating future payments. '' Another statement from the representative at TD Renovate : Additional payments made from an invalid account will be returned and subject to returned payment fees. 

Problem : Please convey where that information is disclosed as it is not in the Cardholder Agreement nor is it in the disclosures that are written on the pages of the statements. If a consumer is unaware that there is an issue with the account information, how will they know to update the account information? At no time did TD Renovate communicate with the consumer that the account information provided was unable to be located until a complaint was filed with the CFPB. Please advise where the responsibility is written out to fall on the consumer in the event that the account numbers have an error. 

Please advise where payments made from an invalid account are subjected to NSF fees. 

The representative from TD Renovate brought to light another situation where she referred to a payment of {$94.00} that was made to the account. Her statement is : " Your minimum monthly payment of {$220.00} was due on XX/XX/XXXX. We received your payment of {$94.00} on XX/XX/XXXX. However, the payment did not satisfy the minimum monthly payment requested. A payment which is less than the required minimum payment is considered late, unless additional payments are received that satisfy the minimum monthly payment before the due date. Thus, a {$40.00} late fee was assessed to your account. However, we have waived this fee, as a courtesy. This credit adjustment will be reflected on your next billing statement. Thereafter, your minimum monthly payment of {$260.00} was due on XX/XX/XXXX. '' Problem : The payment of {$94.00} was made with a TD Renovate representative who advised me that I owed a total of {$94.00}. I paid the amount that the representative told me on the phone that was owed. At no time did the representative tell me that I owed {$220.00} which is why that amount was not paid. This payment amount was later stated to be a non-fulfillment of the minimum amount due and was a factor in how I ended up with a 30 day late payment reporting on my credit report. 

Additionally, the late fee was waived because it was not supposed to be assessed in the first place, not because it was a courtesy of TD Renovate. That waived late fee was never credited back to my account and added to the mounting fees which through my account into a negative state. It was never deducted and there was no acknowledgement of it until I filed a claim with the CFPB. 

With a {$3200.00} credit limit, I have paid a total of {$1100.00} in principal on this 'deferred interest ' product and I have paid {$240.00} in fees for a total of {$1400.00}. My balance should be {$1700.00} however it is currently {$2200.00}. I have totaled up all of the payments made to TD Renovate and they are as follows : XX/XX/XXXX : {$250.00} ( XXXX AND XXXX ) ONLINE FROM ACCOUNT ENDING IN XXXX XXXX : {$100.00} ( XXXX ) ( ENDING IN XXXX ) XX/XX/XXXX : {$240.00} ( XXXX AND XXXX ) ( ACCOUNT ENDING IN XXXX ) XX/XX/XXXX : {$94.00} ( PULL CALL FROM WHEN THIS PAYMENT WAS MADE ) XX/XX/XXXX : {$380.00} XXXX : {$82.00} Total : {$1100.00} I have calculated the total fees assessed : XXXX : {$29.00} LATE FEE XXXX : {$40.00} LATE FEE XXXX : {$40.00} LATE FEE XXXX : {$40.00} LATE FEE XXXX : {$65.00} ( Only Says {$25.00} NSF on Statement ) XX/XX/XXXX : {$35.00} XXXX  XX/XX/XXXX : {$35.00} XXXX  Total : {$280.00} OR Total : {$240.00} ( if {$25.00} instead of {$65.00} per XXXX Statement ) Either way, with a credit limit of {$3200.00} on an account that has deferred interest until XX/XX/XXXX, my balance should either be {$1700.00} or it should be {$1700.00}. However, on today, XX/XX/XXXX, my balance is reflecting a total of {$2200.00} which is a {$520.00} or {$480.00} difference in what the total balance should be. 

According to the statement in XXXX to XXXX, I accrued {$200.00} in fees in XXXX and on the XXXX to XXXX statement I accrued {$35.00} in fees in XXXX. Therefore, my total fees are {$240.00}, and my total successful payments are {$1100.00} for a grand total of {$1400.00}. With a credit limit of {$3200.00} - {$1400.00}, my balance should be {$1700.00} since no interest is being charged at this time. 

Additionally on their site it states that I have only paid {$910.00} dollars of my {$3200.00} credit limit. 

This entire situation with TD Renovate has been a nightmare from the beginning and I am now asking that the CFPB investigate their lending and billing practices as it is more than obvious that consumers like me are being defrauded.

Company response to consumer: Closed with explanation