Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #5640030
Complaint Overview
Complaint ID: 5640030
Company: Synchrony Financial
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: Massachusetts
ZIP Code: 020XX
Date Received: 2022-06-06T12:00:00-05:00
Date Sent to Company: 2022-06-07T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am having XXXX XXXX A/C units installed in my home by XXXX of XXXX XXXX whom recommended I use an 18 month no interest loan ( interest deferred if paid off in 18 months ) to have the units installed. The loan is serviced by Synchrony Bank whom considers it a credit card. They claim as part of my online application I agreed to pay {$190.00} for a {$29.00} activation fee and a {$160.00} " card security fee. They say these fees are needed to protect my credit card. I didn't know it was a credit card and i never would have agreed to pay {$190.00} for security for a credit card that A ) i don't even have and B ) will never use. Its part of a XXXX promotion, not a card to run around using with a 27 % interest rate. When I talked to the two representatives on the phone, they refused to transfer me to a manager claiming none exists. This is a scam and I feel in violation of the interstate commerce laws. I will also be filing a complaint with the State of XXXX consumer protection office. Futhermore, I had to request my loan statement as Synchrony didn't even send me a bill. This is a huge scam. Not sure who's behind this scam whether it is the contractor or XXXX or Synchrony Bank, but this is a huge scam meant to dupe consumers.
Frequently Asked Questions
What is Complaint #5640030 about?
Complaint #5640030 was filed against Synchrony Financial regarding Payday loan, title loan, or personal loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2022-06-06T12:00:00-05:00.
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 (Payday loan, title loan, or personal loan) 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.