Credit card or prepaid card -- Fees or interest -- Complaint #5396092
Complaint Overview
Complaint ID: 5396092
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: Texas
ZIP Code: 78660
Date Received: 2022-04-01T12:00:00-05:00
Date Sent to Company: 2022-04-01T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have been using CareCredit for nearly XXXX decades and it has always been the same : I have 1 year to pay off the balance ; they divide the monthly payments so, as long as I pay the minimum payment amount, then it will be paid off in full within 1 year and I have no interest charges. This has been the case multiple times over the past XXXX years. I charged {$1700.00} to my Care Credit card in XX/XX/XXXX. I immediately agreed to set up automatic payments each month expecting the balance to be paid off by XX/XX/XXXX. But Care Credit changed this to a XXXX term without adjusting my minimum balance accordingly. So they have been charging me a total of {$380.00} in interest since XX/XX/XXXX. My current balance is {$1500.00} even though I have been making monthly payments for nearly 1 year ( totalling {$520.00} )! My acocunt balance should be {$1100.00}. This is total deception! How can they expect anyone to pay this off? My {$520.00} payments only took {$140.00} off my balance! That is a 72 % interest rate!!!! I need the {$380.00} in interest reversed and then I will pay the balance that is remaining in full today ( {$1100.00} ).
Frequently Asked Questions
What is Complaint #5396092 about?
Complaint #5396092 was filed against Synchrony Financial regarding Credit card or prepaid card specifically about Fees or interest. It was received by the CFPB on 2022-04-01T12:00:00-05:00.
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.