Public Mediation

S.T. vs. Macy's Inc - Interest billing by Kafka

Macy's never-ending minimum interest nightmares

S. T. vs. Macy's Inc (Headquarters)
7 W 7th St Fl 8, Cincinnati, Ohio, 45202-2468, United States
Amount Involved: Other terms
    • Status: In Negotiation
      This claim has posted for public comment and negotiation. It will remain posted until resolved to the claimant's satisfaction. Suggest a resolution to help these parties reach a settlement.
       (seeking public comment)
    • Claimant Seeks: 3 non-monetary items.
    • Claim #: 1630538
    • Amount Involved: N/A
    • Filed On: Apr 28, 2017
    • Posted On: May 09, 2017
    • Complaint(s):
      • Bad business practices
      • Overcharge or billing error
      • Customer service runarounds
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Statement of Claim
Complaints Involved (3) - View
Claimant says:
"I bought some items from Macy's last Thanksgiving, using my Macy's credit card, which had a zero balance. I procrastinated on paying the bill (due January 4) when it came, and at the last minute couldn't get into my online account because of changes by Macy's online portal. Oops. I called Macy's on January 6 2017 - 2 days late - and paid the balance of $141.72 in full.
This was a shining customer service moment for Macy's, because the rep was very nice about reversing the late fee - which I appreciated.
Then I received a bill for $2.16 in interest, due Feb. 4. I was about to leave the country for an extended period so I paid the bill in full, by check, immediately. Macy's duly received the check and eventually deposited it on Jan. 23.
On returning to the country I found another bill for $2 minimum interest charge, and then a second bill for $4 ($2 + $2) because I hadn't paid the earlier one.
I called Macy's and the rep didn't seem to have any idea why I would be upset by this but eventually agreed to waive the $4 and return my balance to zero.
Imagine my surprise when I received a bill for $10. I waded through endless voice prompts and finally reached a rep, who seemed embarrassed and said she'd have to transfer me. Sure enough, I then got the "This is an attempt to collect a debt" speech. The rep told me that the credit hadn't been properly applied. As I know now, the rep had actually added $4 to my account instead of subtracting it. Then there was....yes, another $2 minimum interest charge, for a grand total of $10.He agreed that he'd reverse the charge and my balance would be zero; he'd also close my account as instructed (because why would I ever want to use it again?). He said that he didn't believe Macy's would have reported this to the credit bureaux, but by this point I had no faith in Macy's to have got anything right. 
I was so furious that I filed a complaint with the Consumer Financial Credit Bureau. Today I received an enormous envelope stuffed with an entire tree's worth of useless documentation, down to copies of coupons, "pages left intentionally blank" etc. - which will all have to be shredded. Gee, thanks.
The cover letter noted that I hadn't paid my bill in full and therefore interest had been due. Yes, I knew that. I paid it immediately I received the bill.
It went on to say: The $2.16 interest charge was for the period ending Jan 8...Because the account continued to carry a balance from billing cycle to billing cycle, and no further payments were received, $2 minimum interest charges were applied for billing periods ending Feb 5 and March 8.
By Macy's logic, I will NEVER be able to pay this bill off. No matter that I paid the $2.16 balance well before the due date. If 10 minutes elapses between the end of the billing cycle and the point at which any reasonable person trying to pay the bill off actually applies a payment, the minimum interest is due.
Furthermore, Macy's apparently DID report my "delinquency" to the credit bureaux. Seriously?
I'm old and cranky and I don't care about credit at this point in my life, although I do care about paying what I owe. But for the younger generation and for people living in poverty or month to month, this kind of stupidity can be ruinous to both their finances and their credit.
I have wasted an absolutely ridiculous amount of time trying to clear this up. It was never about the $2, $4, or $10 - it's about sheer craziness. It would have been far cheaper to just stick the $4 in an envelope and mail it. Except that I'd still owe interest.

Update 6/10/17

I received a response from Macy's reiterating that the continuing interest charges were because I "carried a balance." No recognition whatsoever of the issue that the ONLY reason I carried a balance was that the balance due on Feb 4 was inaccurate, despite having been paid immediately, and that I would literally have no way to get an up to date balance. As an experiment, my friend who does carry a balance called to get a pay-off amount. She was told that as of that date it was X, but there would be further interest applied. Seriously, Macy's? I'm extremely disappointed that both Macy's and the CFPB seem to think this permanently trailing interest is OK."
...
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What Claimant Wants Hide
What By When How Much
1. Remove false or malicious web content, business reviews, etc.: Provide confirmation that negative credit bureaux reports have been removed. May 13, 2017 N/A
2. Apology: Apology May 13, 2017 N/A
3. Change of policy: Stop charging interest on interest. If the balance is paid in full by the due date, it's paid. May 13, 2017 N/A
Just make me happy!
Claimant invites Macy's Inc (Headquarters) to make a fair offer to resolve this complaint.
Non-cash: 3 items
  • 0
Do you agree with the claimant’s demands?  (If you are a party to this claim, click here.)

Respondent's Counteroffer

There has been no response to this claim from Macy's Inc (Headquarters). This claim will remain posted until resolved
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