Payday loan, title loan, or personal loan -- Problem when making payments -- Complaint #5868963
Complaint Overview
Complaint ID: 5868963
Company: Synchrony Financial
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Problem when making payments
State: Indiana
ZIP Code: 471XX
Date Received: 2022-08-11T12:00:00-05:00
Date Sent to Company: 2022-08-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I'm not too sure what will come of this but a friend recommended I give it a shot. I don't have exact dates at this point in time but I'd be happy to provide those in a follow-up, or just resubmit the entire thing if I need to. My relationship with Synchrony bank started back in 2019, I had applied for a line of credit for XXXX store financing and was approved. They did not, however, actually create a log in for me to make my payments, they told me that I'd receive login credentials in the postal mail. As a result of this, I didn't actually receive any credentials in the mail for over 90 days. During that time synchrony was charging me late fees unknown to me at the time because I did not have access to see or pay my bill. It was eventually discovered that they didn't even send the credentials in the first place and a customer service representative had to generate them for me. They were kind enough to remove the late fees due to the failure on their part, they did not fix the impact this had on my credit score. Now they have damaged my credit score once again. Apparently it is their policy to terminate my account after 2 failed payments. The first of which was over a year ago, the second was just a few days ago. Both of these were rectified the second I was notified of a failed payment, and records show payments for them posted the following days. I understand policy, I understand that I may have signed something that notified me of this policy, and I understand that they must follow said policy if it does exist. What I do not understand is how a financial institution as big as synchrony is allowed to play these games with people 's credit score and do nothing to correct their mistakes. There are countless other issues I've had with them in regards to Paypal credit as well, they closed that account in a similar fashion, tanking my credit score, and many instances of unjustified late fees that they admitted were mistakes. Maybe the most recent incident is on me, but considering what they did when I first opened the account, and all the issues I've had with them on my old PayPal account, I am very frustrated that I now have to recover from yet another negative mark against me from this company.
Frequently Asked Questions
What is Complaint #5868963 about?
Complaint #5868963 was filed against Synchrony Financial regarding Payday loan, title loan, or personal loan specifically about Problem when making payments. It was received by the CFPB on 2022-08-11T12:00:00-05:00.
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 (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.