Credit card or prepaid card -- Fees or interest -- Complaint #5061322
Complaint Overview
Complaint ID: 5061322
Company: Synchrony Financial
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-Issue: Charged too much interest
State: Texas
ZIP Code: 75119
Date Received: 2022-01-01T12:00:00-05:00
Date Sent to Company: 2022-01-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In approximately XX/XX/XXXX, I opened a credit card account with Synchrony Bank to cover sewer repairs for my home. After being notified that I had been approved, I never received any further communication from Synchrony. Approximately XX/XX/XXXX, I received a call from a representative from Synchrony saying that the first payment was due and I could pay online. I had to be notified by phone because I never received a statement nor credit card. Since XX/XX/XXXX, I was making my payments online, with no further communication with Synchrony. When I paid my bill on XX/XX/XXXX, I noticed that the balance had doubled from {$4000.00} to over {$8000.00}. When I called to inquire why, I was told the interest had been added to the account because the promotional interest rate had expired. My issue is... I never received any communication from the company ; never received a statement nor a credit card since taking out the loan. Had I received any statements from the company, I would have known the promotion was expiring, and based on my excellent credit rating, I would have transferred the loan to a personal loan and not accrued the over {$4000.00} interest that negated all the payments made for 1.5 years that lowered the remaining balance to half of the loan amount. When I called on XX/XX/XXXX and was connected to a manager, I was told I had activated a card that I have never, to this day, received and that I enrolled in electronic statements, which I did not and also have never received by email. Based on the fact that I would have had to activate both the card and electronic statements, and I did not, it should not be hard to prove that I did not activate nor receive the statements nor credit card. When I expressed this to the manager and informed him that, if calls are recorded, as they claim, their should be proof that I did not call to activate a card. Additionally, there should be a record of the initial call that I received to be informed that the first payment was due because I never received a statement to inform me. When I relayed this to the manager, he hung up on me. I called back and tried to speak to a different manager who told me the same thing -- that I had activated both actions -- upon which time I informed him I would be filing a complaint with the Consumer Financial Protection Bureau. I simply want the interest charge reversed, at which time I can transfer the loan to a personal loan and be done with Synchrony Bank.
Frequently Asked Questions
What is Complaint #5061322 about?
Complaint #5061322 was filed against Synchrony Financial regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2022-01-01T12:00:00-05:00.
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 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.