Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #6217672
Complaint Overview
Complaint ID: 6217672
Company: Synchrony Financial
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Charged fees or interest you didn't expect
State: Oklahoma
ZIP Code: 746XX
Date Received: 2022-11-17T12:00:00-05:00
Date Sent to Company: 2022-11-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
When I signed up for paypal credit they offered a XXXX no interest loan for all purchases. When I stopped making purchases I was around {$2100.00} in credit used. My payments were around {$30.00} which was in line with the {$2300.00} credit line I have on my credit card with XXXX XXXX. After a few months my credit used went up without me making additional purchases and the amount I had to pay that month went up also. When I contacted them they said the offer I had used when I purchased had expired. This didn't make sense but I assumed it was a one time thing. Since that time the maximum amount owed and the monthly payment has skyrocketed to over {$3200.00} now. They told me several times, oh, just make this $ XXXX dollar payment this month and things will go back down to {$30.00} like its been.. THEY LIED! They claim I made a cash withdrawl for {$600.00} and charge me $ XXXX in interest. This is on a 29 % annual interest rate. There is no way in heck 2.5 % /mo int on {$600.00} is {$7.00}! When I try to examine where my payments have been going and whats been paid and what hasn't there is no record. I spoke to them at length about all this and was basically told they are right, i'm wrong so pay the bill. I got so frustrated and angry with them that I demanded they close the account and that no further payments would be coming to them until either they fixed things, or litigation had completed and I was ordered to pay them more funds. I also demanded paperwork for every transaction since the account was created and after roughly 14 days I received it but it is not understandable. I feel that they have unfair and possibly illegal lending practices and do no intend to pay them until this matter is resolved by some 3rd party. In the mean time they are destroying my credit.
Frequently Asked Questions
What is Complaint #6217672 about?
Complaint #6217672 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 2022-11-17T12:00:00-05:00.
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.