Breadfinancial Reviews 176

Their rates are decent but they operate on an antiquated system. You have to call or message if you want to cancel or renew a CD and then hope they enter the correct instructions. They have made several mistakes with my account instructions and refuse to let the customer renew or cancel online like other financial institutions.

I took a loan through VShred (an online fitness and coaching company). I had to back out for personal reasons, after the grace period, and I was waiting for VShred to come up with a refund, so I didn't pay my first payment for over 25 days. I was getting calls, texts and emails every day, multiple times a day, from day 1. Of course I didn't answer al those calls. When I explained to them my situation, which had to do with my mom's medical condition, they didn't ease the pressure. VShred refunded- to Bread- $1000 and they still continued the same tactic of relentless pressure. I cannot complain for lack of politeness, most of the people I spoke with were cordial. When it was made clear to me that no negotiation for any discount was possible, I found the rest of the money somehow, and paid off Bread in full. I will never do business with them again. They got their money but lost my respect.

I waited for 30 minutes on the phone so far and still have not got a person while the voice message said "in 10 minutes". They do offer a little higher APY CDs but I am not sure if it worth the trouble... No support.

I had a $20 charge and got a late fee for an additional $20. I paid the $2 interest that was accrued as well.
This is the only time I was late but they'd only refund me $15 and then threatened an additional late fee if I didn't pay the $5 late fee now. So my $20 transaction was marked up to $42 and cost $27 now.

The worst, horrible...I had no idea I was being charged 35% interest as I never got a statement. It is IMPOSSIBLE to call them as every number you get is wrong or disconnected. That cannot find your account and continue to charge you. The people you speak have no authority to do anything but take a payment and say is there anything else I can do when they do nothing. Horrible, I cannot even pay it iff because they still want more interest after.

If I could give this company zero stars, I would. My son has passed away and has a Bread CD account that has matured. Not a single phone number they provide on their website or through messaging gets me through to speak to someone. Just stupid messages about being unable to 'connect you right now' every time I call for a week. Disgusting customer service. Losing a loved one is bad enough and there is so much to sort out. This is the only company I have had to deal with that has such shocking customer service. I still haven't gotten through to anyone and don't know what to do. :( Next step is contacting my lawyer...

Opened a CD.. complete fail. They don’t verify your identification, and the name was wrong on my account. Then they ask for ID after the fact and won’t update the info even though it’s wrong. The customer service is absolutely incompetent, clueless in trying to locate the account, how to resolve issues, etc etc. I stopped payment on the CD and closed the account within 3 days. It’s now safely with Marcus (Charles Schwab) who has better security and service, and follow federal laws for deposit accounts. Run as fast you can from Bread, zero stars.

Asked Customer Service today to communicate with my bank so I could arrange to pay the credit card bill automatically. As best as I could understand his English he said that couldn't be done. Probably will not use the card again since all my other cards (6) do cooperate with my bank in setting up automatic payments.

I looked up Comenity on Wikipedia and was taken to Bread Financial. They said: A significant portion of Bread Financial's revenue is generated through late fees charged to the subprime consumers it primarily serves. Wikipedia described "subprime consumers" are borrowers with credit rating 600 or lower. I think this would make Bread Financial a predatory lender. With high fees and poor customer service, I don't think I will do any more business with them.

The worst customer service I have ever experienced! I have been a customer for 18 years, and have never missed a payment. Last month there was an issue with my payment account number. I received an email advising they received my completed payment, so I thought it went through. I was not notified it did not go through, and today I received another bill with a hefty late fee. They refused to waive the complete late fee.

Tamara under commenity was incredibly helpful and empathetic to my issue. She listened and understood where I was coming from, made me feel heard, and prescribed good guidance. Appreciated the turnaround on my experience!

I will never use any account affiliated with Bread Financial again. They make it almost impossible to pay your bill. EVERY SINGLE MONTH, I have to change my password because it says it doesn't match their information. It's saved to my phone. I have it listed in my phone as well as in my password list. They are not incorrect. It didn't recognize the username; it doesn't recognize the password; it's infuriating. I have multiple accounts that use this financial institution, and each account does the same thing. Never again. I gave one star because you can't go into the negative, but it's definitely a negative zero.

Absolutely the worst financial organization I have come across in my considerable experience. Only pay lip service to customer service. Arbitrary limits on transfer of funds through ACH (MY FUNDS, NOT THEIRS). Impossible to close an account so transferred the limit every day until emptied. I think their actions could be Criminal (holding funds)and warrant an inquiry by the FDIC and the FBI.
STAY FAR AWAY

This bank gets RAVING Reviews. Let me give you the skinny! A bank is a bank is a bank. They will give you the runaround to close a CD and transfer your funds. Every time you want to close a CD, you have to contact Bread Financial.

You cannot Close your CD without contacting customer service. They asked me what I am going to do with my funds and gave me a sales pitch to renew my CD. I’m looking for the best CD rates and Bread Financial is trying to sell me their excellent ONLINE customer service department. I’m a very busy person and do not want a Personal Relationship with my bank.

Once you Finally close your CD, it’s on the Honor System. Bread Financial will Not send you an email, voicemail or text message verifying that your CD has been closed. Even when the CD is closed, it won’t show up on your statement until the actual day that the funds have been transferred.

You have ten days to close a CD. Otherwise, it will be renewed. You better keep on top of customer service and keep asking if the CD has been closed. Even when you text Bread Financial that you want to close your account, you will get static and possibly another sales pitch.

I am leaving this review to Inform others that once you open a CD with Bread Financial, they are not going to transfer your money without a long winded battle.

What I do like about Bread Financial is that your money is safe. A scammer would have to jump through too many hoops to withdraw your funds and lose interest.

I have more banks than money and have never experienced this with a Bank.

Is Bread financial a Startup company. If they are Not, they sure act that way.

Very poor customer service. I tried to get a loan through them. They denied, claiming fraudulent activity, with no other data or evidence to back it up. They've lost a customer for life. The loan process was not very smooth or detailed ahead of time and there were a few sketchy things in the process that made me start to question whether or not I wanted to continue.

Terrible company. Does not link to Wayfair at all and I lost the item from Wayfair that I was hoping to purchase. Terrible customer support. Do not use!!

Paid and account off on the 22 of April always paid on that day of the month or a couple of days later no problems. Then they hit me with a late charge of $32.00 because they got mad that they didn't get any finance charges from me from the promotion period. I will not do any business with them again you can't trust them.

I have been experiencing frustrating attempts to transfer my money to a external account. I transferred some, but then they froze my acct. I am overseas and have been sending numerous emails but they refuse to do what I need. Today I find that I can't even SIGN IN!! This company blows

Higher rates entice you in...and then you realize that getting your money back out is a massive hassle.

Bread calls itself an "online bank", yet you can't complete basic banking functions through their website.

For example, when your CD comes due, you have to have added an external account for the money to be sent to....this makes sense.

(keep reading)

Except that you can't set up CD instructions online. You have to CALL into their customer service line (no earlier than 30 days before the CD comes due). And then wait.

Finally, you talk to a human who tells you they need your name, all your bank account information, your address, SSN, birthday, etc.....

ALL of which is already part of your account because, you know, you've already got an account! And you already verified the external account when you set everything up (waiting for 2 small $ amounts to be sent to your bank account and then inputting the $ amounts for verification).

But now that you want your money back, they need to "verify" all that stuff again. Which you can ONLY do over the phone.

Total waste of time.

I've got multiple CDs with other banks, and every single one allows me to easily do ALL this stuff online.

The cherry on top is that they never even sent a verification email and there's no way to confirm the instructions to close an account...you just have to hope that they'll close out the CD when it comes due.

I don't recommend Bread. Zero stars.

I wish that I read these reviews a month ago!
Just got my card, used it and now I'm trying to register online. After getting a welcome email that I'm registered, their website doesn't recognize my username and password so that I can log in. Was on the phone with their customer service for an hour. They DO NOT HAVE A TECH SUPPORT. The manager told me that for security reasons, it will take the system 10 DAYS to reset. Are you kidding me, 10 days? OK, I'll wait and try again. Planning on paying off the card and be done with them. I can see that I will need to fight for my $200 bonus. Should be interesting...stay tuned.
UPDATE 4/20/25: I was stunned that after I waited the 10 days, my initial username and password did work and all on my info was on the account.
My next adventure will be to pay the balance, stay tuned!

I have been attempting for one and a half months (closing in on two months) to obtain a copy of my 1099-Int. form for 2022. Repeated calls to customer service always elicit the same response: "it's in the mail".
In this day and age it is mind-boggling that it should be so difficult and require so much time just to obtain a simple piece of paper.
And it begs the question: what is wrong with this company?