Credit card or prepaid card -- Fees or interest -- Complaint #4512025
Complaint Overview
Complaint ID: 4512025
Company: Synchrony Financial
Product: Credit card or prepaid card
Sub-Product: Store credit card
Issue: Fees or interest
Sub-Issue: Charged too much interest
State: Minnesota
ZIP Code: 550XX
Date Received: 2021-07-02T12:00:00-05:00
Date Sent to Company: 2021-07-06T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I purchased carpet in ~ {$6500.00} from Lowe 's at 0 % promotion for two years using Lowe 's credit card which is managed by Synchrony bank, the term of 2 years was ending on XX/XX/2021. I made regular monthly payments in last two years and brought the balance down to {$1100.00} in XXXX, XXXX. Somehow I thought my promotion was ending in XXXX, XXXX, but when I checked my online account on XX/XX/2021, I found out that I was charged {$2700.00} interest. I called the customer service and talked to an agent, she told me that if I make a payment of remaining Balance of {$1100.00}, the whole interest of {$2700.00} will be waived. I made the payment of {$1100.00} over the phone which was posted to my account on XX/XX/2021. But interest charged was still there, I called back and I was told again by an agent that interest removal request is still in the process and will take couple of days. I called again after the couple days, I was told again wait for few more days. I have called at least 7 times since XX/XX/XXXX and as of today this interest of {$2700.00} is still showing as an outstanding balance and agony is that they have charged {$63.00} on top of that by end of billing cycle. I called again yesterday and spoke with 3 agents, and supervisor and they still gave me the same message that this interest of {$2700.00} will be removed but they don't give me a definite date or timeline. This has created an unnecessary tension for me that charging {$2700.00} on {$1100.00} for a day is exorbitant amount of interest doesn't make sense and then it has been more than a month they have been telling me that it'll be removed but still haven't removed it and on top of that charging interest over interest. This is a blind exploitation and extortion against innocent consumers. Please help alleviate this tension for me, thanks.
Frequently Asked Questions
What is Complaint #4512025 about?
Complaint #4512025 was filed against Synchrony Financial regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2021-07-02T12:00:00-05:00.
How did Synchrony Financial respond to this complaint?
The company responded with: "Closed with monetary relief". 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 or prepaid 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.