Money transfer, virtual currency, or money service -- Confusing or missing disclosures -- Complaint #5591620
Complaint Overview
Complaint ID: 5591620
Company: Synchrony Financial
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Confusing or missing disclosures
State: Connecticut
ZIP Code: 06905
Date Received: 2022-05-22T12:00:00-05:00
Date Sent to Company: 2022-05-22T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have a PayPal Credit account. I have used the account to make purchases that offer special financing/differed payments over 6 month time periods, I have made returns and made payments and there is no logic to how the payments and returns are applied. I have been making payments and somehow accruing interest on my purchases. Today I looked at my statement and it said that the minimum due to avoid interest was {$360.00}. However, the only purchase showing to expire in XXXX was for {$62.00}. I called twice and was cut off both times. I had tried to call at the end of last year and faced similar issues. Due to the fact that my mother had recently passed away, and some additional personal issues, I didn't call back for some time. I have been paying down the account and today I was shocked to see that the balance due to avoid interest was again so high. After being on hold for 40 minutes and being disconnected twice, I called back a third time and I asked to be transferred to a representative in the USA. Once I was connected to the representative, I was informed that I had an outstanding balance for a promotional purchase from XXXX that had expired and was accruing interest. This amount or line item does not show up anywhere on the statement, just the ambiguous " amount due to avoid interest ''. The representative told me that in order to have my payments applied to the older balances, I need to call them and tell them where to allocate the payment amounts. This is somewhat fraudulent and extremely misleading to the consumer. It is unclear when making purchases that you need to call every time you make a payment or return to have the item applied to the correct charge amount. I am very annoyed by these deceptive practices and I do not think that the company is being transparent and open abut these practices.
Frequently Asked Questions
What is Complaint #5591620 about?
Complaint #5591620 was filed against Synchrony Financial regarding Money transfer, virtual currency, or money service specifically about Confusing or missing disclosures. It was received by the CFPB on 2022-05-22T12:00:00-05:00.
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 (Money transfer, virtual currency, or money service) 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.