Sterling Jewelers Inc. Consumer Loan Complaint

Sterling Jewelers Inc. Consumer Loan department,

Installment loan Managing the loan or lease Indiana

Recently I acquired a Kay Credit Card. I set up auto pay. It all went smoothly except what would have been the last payment, on their system, archaic, did not process what should have been my last payment. I had set up the payment system to pay off in a certain period, so the payment was more the minimum payment. My payment was set for $150.00. The last payment came to $88.00, so my set auto payment of $150.00 was in excess. So instead of the system being smart enough to apply an if-then situation as such as IF greater than $150.00 is owed, only pay $150.00, it handled well. But in this case, it should have been IF what is owed is less than the scheduled payment, then only apply what is owed, in this case $88.00. So what happens is I think I 'm all set I have auto payments set up so no way am I going to miss a payment. However much to my dismay, no payment is taken even though I have authorized and requested for a payment to be taken, thus making my payment late. The call center does not identify as Kay Jewelers,


I had not thought to look up the phone number after the second call, my account would have went in to default, when it should have been paid off in full. To me this is very dishonest practice, it enables this company to be able to charge me a late fee and increase my interest rate. If they report this late payment to my credit, then I get a ding on my credit report, all because they have a system set up that is incapable of processing a last payment amount that is less than an auto payment. To me this is an illegal process that is trying to cause me to incur more fees. I set up my auto pay to run until the account was paid off and it should have done that.