ComplaintsforCBW Bank

• Initial Complaint

  04/22/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I just got a credit alert a account was closed with this bank but I have no knowledge of ever opening an account or what this bank is. I'd like a report and repair my credit if any inquiry has been made. I don't see this on any report but trans union and can not confirm this is even real I don't know what is going on but my next step is the FTC if I can't find resolution here. Who tried to use my identity and why?

  

  Business response

  04/29/2024

  Dear ***** *********

  CreditFresh has received your complaint on April 22, 2024, through the Better Business Bureau (“BBB”).

  We trust that our email sent to you on April 29, 2024, addresses your concerns.

  Should you have any further questions or concerns, please email us at [email protected].

  Best Regards,

  The CreditFresh Team

  Customer response

  04/29/2024

   
  Complaint: ********
  
  I am rejecting this response because: all they advised was they didn't know why I reached out and could not find an account in my name. Which is good because I don't know who CreditFresh is - however that makes it more concerning an account that was never opened, was closed and was on my transunion credit report -- how was my information even given if we both do not have record of an account?? 

   

  This is alarming. I do not want to deal with fraud or identity theft again. 
  
  Sincerely,
  
  ***** ********

  

  Business response

  04/30/2024

  Dear ***** *********
  
  As was stated in our previous email, we have received BBB complaint containing your name and email address. We take complaints very seriously and we would like to assist you. In order to review your concerns, we would require a copy of the credit report in question. If you do not wish to provide supporting documents, we would deem this complaint resolved.
  
  Sincerely,
  
  The CreditFresh Team

• Initial Complaint

  01/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This loan is very predatory. No matter how much you pay, mostly all of your goes in there pocket and not towards your loan. I've paid out about $1000 to them. And 95% of my money is interst. In order for me to pay this off. I will have to take out a loan from a more credible company. This has been a complete nightmare trying to pay this off.

  

  Business response

  01/04/2024

  Dear ******* *******
  

  CreditFresh, on behalf of CBW Bank, Member FDIC, has received your complaint on January 1, 2024, through the Better Business Bureau (“BBB”).
  

  We trust that our email sent to you on January 4, 2024, addresses your concerns.
  

  Should you have any further questions or concerns, please email us at [email protected].
  

  Best Regards,
  

  The CreditFresh Team

• Initial Complaint

  01/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Took a line of credit with this company ****** ***** back on 05/2023 paying $98 biweekly, so far I have paid $1470 but is says I still owened $1370. Is this is shark loan? I will never ne able to pay this off, not with all the daily fees they imposed.

  

  Business response

  01/02/2024

  Dear ****** *********,
  

  ***********, on behalf of CBW Bank, Member ****, has received your complaint on January 1, 2024, through the Better Business Bureau (“BBB”).
  

  We trust that our email sent to you on January 2, 2024, addresses your concerns.
  

  Should you have any further questions or concerns, please email us at ************************.
  

  Best Regards,
  

  The CreditFresh Team

• Initial Complaint

  11/22/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Credit Fresh is a predatory lender. I can not pay down the balance no matter what I pay because they add fees every day. They also have a billing cycle charge that is added. My balance is 4,000. I paid 2,500 but non of that barely went to the principal balance. They don’t care about consumers. They did not send the agreement to me until after I withdrew the funds. I am so sad about this. I will be reporting this to the Florida state secretary. I would like my 2500 paid put towards my balance now and the account closed and paid off.

  

  Business response

  11/30/2023

  Dear Ramona McFarlane,
  

  CreditFresh, on behalf of CBW Bank, Member FDIC, has received your complaint on November 21, 2023, through the Better Business Bureau (“BBB”).
  

  We trust that our email sent to you on November 30, 2023, addresses your concerns.
  

  Should you have any further questions or concerns, please email us at *************************
  

  Best Regards,
  

  The CreditFresh Team

• Initial Complaint

  11/10/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I took out a line of credit with this company at the end of 2022. I have already paid more than the line of credit was worth. I called them in September 2023 to let them know my September 8 payment was going to be late because I fell on hard times and even gave them all the details. They continued to take further payments from me, after the late one. I got an email yesterday to tell me my account is in default and will show negative on my credit report. I called and the initial representative was awful, but the supervisor was nice. I was still told the account will show in default until it is paid off, which is against GAAP because they continued to take subsequent payments. They have now reported this on my credit as delinquent despite taking subsequent payments. My initial line of credit was $1975.00. Despite the fact that I have paid $124.55 every two weeks since initially taking the loan, they have only applied a minimal amount to my principal, and I owe more than I initially borrowed. As of the last statement, they have charged me $2310.00 in "billing cycle charges" in 2023 alone. Since it's technically not interest, it's legal but very predatory. I have made a payment plan to pay them off, but I have already paid more than $1000 over what the loan was worth. This was the worst financial decision I could have made and I wish I had never borrowed from them.

  

  Business response

  11/17/2023

  Dear ******* *****
  CreditFresh, on behalf of CBW Bank, Member FDIC, has received your complaint on November 10th, 2023, through the Better Business Bureau (“BBB”).
  We trust that our email sent to you on November 17th, 2023, addresses your concerns.
  Should you have any further questions or concerns, please email us at *************************
  Best Regards,
  The CreditFresh Team

  Customer response

  11/20/2023

   According to state law, your line of credit is considered usurious and you are not entitled to the interest and fees you have already collected, and may have to pay me double what you have collected over the principle amount should this go further than the BBB. I am now changing my request for resolution as per state law. At this point, you may report the account as paid in full, never delinquent, and refund me the amount of interest and fees that I have paid over the principle that I borrowed, as required by laws of the state in which I live, which is where the contract was made. Please see that Florida Statutes account for you saying it is a "carried balance fee," not interest, and the law still defines that as usurious interest.
  
  
       Some of the laws you may be subject to are as follows:
  "687.02 “Usurious contracts” defined.—
  (1) All contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt, or upon any obligation whatever, at a higher rate of interest than the equivalent of 18 percent per annum simple interest are hereby declared usurious. However, if such loan, advance of money, line of credit, forbearance to enforce the collection of a debt, or obligation exceeds $500,000 in amount or value, then no contract to pay interest thereon is usurious unless the rate of interest exceeds the rate prescribed in s. 687.071.
  
  
  687.03 “Unlawful rates of interest” defined; proviso.—
  (1) Except as provided herein, it shall be usury and unlawful for any person, or for any agent, officer, or other representative of any person, to reserve, charge, or take for any loan, advance of money, line of credit, forbearance to enforce the collection of any sum of money, or other obligation a rate of interest greater than the equivalent of 18 percent per annum simple interest, either directly or indirectly, by way of commission for advances, discounts, or exchange, or by any contract, contrivance, or device whatever whereby the debtor is required or obligated to pay a sum of money greater than the actual principal sum received, together with interest at the rate of the equivalent of 18 percent per annum simple interest. However, if any loan, advance of money, line of credit, forbearance to enforce the collection of a debt, or obligation exceeds $500,000 in amount or value, it shall not be usury or unlawful to reserve, charge, or take interest thereon unless the rate of interest exceeds the rate prescribed in s. 687.071. The provisions of this section shall not apply to sales of bonds in excess of $100 and mortgages securing the same, or money loaned on bonds.
  
  
  687.0303 “Line of credit” defined.—
  (1) The term “line of credit,” whenever used in this chapter, means an arrangement under which one or more loans or advances of money may be made available to a debtor in one transaction or a series of related transactions.
  (2) The Legislature hereby declares that, as a matter of law, “line of credit,” as such term is defined in this section, is deemed to have been included in and governed by the provisions of this chapter as it existed prior to, on, and subsequent to July 1, 1979.
  
  
      687.04 Penalty for usury; not to apply in certain situations.—Any person, or any agent, officer, or other representative of any person, willfully violating the provisions of s. 687.03 shall forfeit the entire interest so charged, or contracted to be charged or reserved, and only the         actual principal sum of such usurious contract can be enforced in any court in this state, either at law or in equity; and when said usurious interest is taken or reserved, or has been paid, then and in that event the person who has taken or reserved, or has been paid, either directly or indirectly, such usurious interest shall forfeit to the party from whom such usurious interest has been reserved, taken, or exacted in any way double the amount of interest so reserved, taken, or exacted. However, the penalties provided for by this section shall not apply:
  (1) To a bona fide endorsee or transferee of negotiable paper purchased before maturity, unless the usurious character should appear upon its face, or unless the said endorsee or transferee shall have had actual notice of the same before the purchase of such paper, but in such event double the amount of such usurious interest may be recovered after payment, by action against the party originally exacting the same, in any court of competent jurisdiction in this state, together with an attorney’s fee, as provided in s. 687.06; or
  (2) If, prior to the institution of an action by the borrower or the filing of a defense under this chapter by the borrower or receipt of written notice by the lender from the borrower that usury has been charged or collected, the lender notifies the borrower of the usurious overcharge and refunds the amount of any overcharge taken, plus interest on the overcharge taken at the maximum lawful rate in effect at the time the usurious interest was taken, to the borrower and makes whatever adjustments in the appropriate contract or account as are necessary to ensure that the borrower will not be required to pay further interest in excess of the amount permitted by s. 687.03."

  

  Business response

  11/24/2023

  Dear ******* *****
  CreditFresh, on behalf of CBW Bank, Member FDIC, is in receipt of the rebuttal you have submitted regarding your complaint.
  We trust that our rebuttal response sent to you on November 24th, 2023, addresses your concerns.
  Should you have any further questions or concerns, please email us at *************************
  Best Regards,
  The CreditFresh Team

• Initial Complaint

  10/09/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Credit Fresh falls under predatory lending, they attach fees and lie to the customers about the true interest cost. I closed my bank account as $180 was being taken from my account and only $24 was to pay off the current balance. They also add on additional fees to the balance multiple times a month so you never can pay down the balance I reported them to FTC, consumers, and the attorney general and plan on continuing to push the issue contacting my state representative. They are not following the state and federal laws and look forward to them being the next predatory loaners to be exposed and held accountable. My loan is $2700 and I paid over $2700 but some how my account is over $3000 in what I owe. Good luck CBW. They claim the billing cycle fees but what they are doing is not legal. Please help join the class action lawsuit if you have been wronged by credit fresh

  

  Business response

  10/16/2023

  Dear ***** *********
  

  CreditFresh, on behalf of CBW Bank, Member FDIC, has received your complaint on October 7, 2023, through the Better Business Bureau (“BBB”).
  

  We trust that our email sent to you on October 16, 2023, addresses your concerns.
  

  Should you have any further questions or concerns, please email us at [email protected].
  

  Best Regards,
  

  The CreditFresh Team

• Initial Complaint

  07/05/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have been a customer of *********** for a few years now. I am growing extremely concerned that this company preys on the less financially fortunate. My initial credit limit was $1400, but in May 2022 it was increased to $2,225. Since May 13, 2022 I have paid approximately $3200 in payments. Yet, my balance continues to be higher than my limit. My balance is currently a hundred dollars more than my limit, which is because out of my $122 semi monthly payment, only $20 goes toward principal and *********** collects the remaining $100. They are charging me $200 a month in fees, which is absurd and should not be allowed. Yes, it is a revolving line of credit in which I can use, but that is my choice. This company should not be able to practice in this manner. I will be seeking an attorney to further review my loan agreement. I also noticed that in my document section of my account there is an "amendment " from June 2022, which states I received a copy. Unfortunately, a copy was only provided in my account portal and not emailed nor mailed to me. Therefore, I had no way of knowing any changes were made. This document states that my continued use of the credit line is my acceptance of the amendment, which is unacceptable. All legal binding documents that amend my original terms should require a signature. I also received an email in May 2022 that my fees had been reduced due to outstanding payment history, yet, the fee I am charged is the same as what you report on your website for all customers.

  

  Business response

  07/13/2023

  Dear ******* *******r,

  ***********, on behalf of CBW Bank, Member FDIC, has received your complaint on July 5, 2023, through the Better Business Bureau (“BBB”).
  

  We trust that our email sent to you on July 13, 2023, addresses your concerns.
  

  Should you have any further questions or concerns, please email us at ************************.
  

  Best Regards,
  

  The *********** Team

• Initial Complaint

  05/16/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have been a customer with Credit Fresh since late 2019. I feel like my loan amount should be a lot less than it is right now. I feel like I am being ripped off. I did a little digging and stupid me has let this **** ** * company get me for *** the amount of my original loan. How can a company charge a "billing Cycle Fee" EVERY PAYMENT for more or at the same amount as your payment??? I did some research in my area and its actual against the law to charge over **% interest in *******. I have paid way more than **% interest on my payments. *** **** *** * **** *** * ***** I am filing another complaint with state attorneys office as well. This needs to be investigated immediately. I need you to go through my WHOLE payment history. Add up the total amount of my loan, subtract my payments without the "billing cycle fee", and refund me the amount you owe me and wiping out my balance or I have no other option than to get a lawyer and go to court.

  

  Business response

  05/18/2023

  Dear Nikki *****,

  
  CreditFresh, on behalf of CBW Bank, Member FDIC, has received your complaint on May 16, 2023, through the Better Business Bureau (“BBB”).

  
  We trust that our email sent to you on May 18, 2023, addresses your concerns.

  
  Should you have any further questions or concerns, please email us at ************************.

   

  Best Regards,

  
  The CreditFresh Team

  Customer response

  05/18/2023

  
  Complaint: ********
  
  I am rejecting this response because: I just tried to make a payment outside of my payment due date and they want to charge another billing cycle fee. I will have this issue reviewed by my state attorneys office. 
  
  Sincerely,
  
  Nikki *****

  

  Business response

  05/24/2023

  Dear Nikki *****,

  
  CreditFresh on behalf of the CBW Bank is in receipt of the rebuttal you have submitted regarding your complaint. We trust that our email sent to you on May 24, 2023, addresses your concerns.

  
  Should you have any further questions or concerns, please email us at ************************.

  
  Best Regards,

  
  The CreditFresh Team

• Initial Complaint

  05/15/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I have had account with them over 2 years. I have turned all my debts over to a debt relief company to help me get my debts paid off. I have been trying for the last 2 months to get Credit Fresh to send me original signed contract so I can submit to them. I keep being told to go into my online account portal and I can pull it up. I have been doing this over and over and over again and nothing comes up. I have told them many times I can not retrieve this. Then they send me an email that my account is going into default. I have been trying so hard to get information from them, just to keep being told to do this, that or the other. I have all intentions of taking care of my responsibility, but I need that document. Account #*******

  

  Business response

  05/18/2023

  Dear Cassandra *******,

  
  CreditFresh, on behalf of CBW Bank, Member FDIC, has received your complaint on May 15, 2023, through the Better Business Bureau (“BBB”).

  
  We trust that our email sent to you on May 18, 2023, addresses your concerns.

  
  Should you have any further questions or concerns, please email us at ************************.

  
  Best Regards,

  
  The CreditFresh Team

  Customer response

  05/18/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  Cassandra *******

• Initial Complaint

  05/04/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I borrowed $**** from this company, but actually received much less. I have been paying $*** a month toward this debt for ** weeks. I now owe $*******. I have never been late nor missed a payment, and I have paid more than I borrowed, yet I have not even reached the amount I borrowed. I don't see how this is legal. I am scared not to pay them, yet my borrowing and having to pay this back like this is ridiculous. I want to settle the debt at a fair amount, and by fair amount, I don't mean pay the entire debt in full, given that I have already paid $**** in fees for this loan, and the debt is actually more than I received. If I continue paying the $*** a month, I will never get it paid back, yet I cannot afford to pay more. Please help me!

  

  Business response

  05/09/2023

  Dear Brita ***********,

  
  CreditFresh, on behalf of CBW Bank, Member FDIC, has received your complaint on May 4, 2023, through the Better Business Bureau (“BBB”).

  
  We trust that our email sent to you on May 9, 2023, addresses your concerns.

  
  Should you have any further questions or concerns, please email us at ************************.

  
  Best Regards,

  
  The CreditFresh Team

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩