Credit card -- Fees or interest -- Complaint #10832471
Complaint Overview
Complaint ID: 10832471
Company: Synchrony Financial
Product: Credit card
Sub-Product: Store credit card
Issue: Fees or interest
Sub-Issue: Charged too much interest
State: New York
ZIP Code: 11743
Date Received: 2024-11-17T12:00:00-05:00
Date Sent to Company: 2024-11-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I signed up for a XXXX XXXX Synchrony Bank ) credit card for a one-time purchase ( {$6000.00} purchase ). I was under the impression that I had NO interest for XXXX months. Apparently, it was deferred interest ( which was never made clear when I signed up for the credit card in the store ) where I would be charged the 28 % interest on that initial charge after the XXXX months expired. I had a ~ {$5500.00} ( I had paid this down from {$6000.00} ) on the credit card. On XX/XX/XXXX, when the interest was charged, I was hit with a {$2100.00} charge. The interest was accounted for wrong ( even if they could charge me on the {$6000.00} and not the {$5500.00}, that charge would be {$1600.00}, not {$2100.00} ). They also advised me that I was given a 30 day grace period from XX/XX/XXXX to XX/XX/XXXX ( and I called them on XX/XX/XXXX ), but that information was never made available via email or phone and they failed to advise me. I also never received any email or phone call advising that I would be charged a large interest amount and that the XXXX months were almost up -- they hid the ball to wait to charge me. Not only did I attempt to file a complaint, they kept cycling me through their customer service rather than escalating to management to exhaust the consumer rather than offering a real solution. The worst part about all of this is that I will now begin to pay interest on the massive {$2100.00} interest charge! These practices are incredibly shady and I will continue to pursue every resource available to me to correct these fraudulent and ambiguous business activities. These practices by laws are surely intended to undercut the consumer protection laws and take advantage of those without providing clear disclosures.
Frequently Asked Questions
What is Complaint #10832471 about?
Complaint #10832471 was filed against Synchrony Financial regarding Credit card specifically about Fees or interest. It was received by the CFPB on 2024-11-17T12:00:00-05:00.
How did Synchrony Financial respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card) and describe your issue in detail.
Can I see other complaints against Synchrony Financial?
Yes, visit the Synchrony Financial company profile at readthecomplaint.com/company/synchrony-financial to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.