Continental Finance Company, LLC Complaint: Delinquent account

#1710574 22 Dec 2015

Credit card

Complaint #1710574 submitted on 12/22/2015 relating to Continental Finance Company, LLC. Complaint relates to Credit card - Delinquent account .

Complaint was submitted via Web and sent to the company on Tuesday 22nd December 2015.

Narrative (may be redacted).

Continental Finance -- Verve credit card Since opening the account in XXXX 2014, Continental has regularly charged late fees to my account and reported my account as late to the credit bureaus when that has not happened. Initially, issues began when the card had to be re-issued because the card had not been received. Although, I had not received the card, Continental began charging me fees on the account. Late fees on a card that I did not have!
Since that time, I have been charged a late fee each month. This account is setup on bill pay through my financial institution. I have this account setup so that payments are received by Continental at least 2 days prior to the due date and I always pay more than the minimum amount due. My financial institution has confirmed that payments have arrived as requested each month. I have noticed that it takes Continental approximately 6 days to process my payment. According to Continental, because they have not " processed '' the payment on or before the due date -- regardless of when they receive the payment, they consider the payments to be late and as a result, they are entitled to a late fee and can -- and do -- report my payments as being " late '' although the payment was received by Continental at the address as indicated on my monthly statements BEFORE the actual due date.
I have never heard of a company considering a payment as being late when the payment was received in their offices BEFORE the due date because it takes them so long so process the order and do not feel I should be regularly penalized for internal payment processing issues at Continental.
Continental also charges interest on late fees ... late fees that they refuse to refund. My balance due on this account is a result of late fees and not actual purchases.

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