Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #6302475
Complaint Overview
Complaint ID: 6302475
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: Tennessee
ZIP Code: 37115
Date Received: 2022-12-09T12:00:00-05:00
Date Sent to Company: 2023-01-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XXXX often offers no interst if paid a certain date. I took advantage of these. My statement would generate on the XXXX of every month. Payments made that day for instance XX/XX/22 would not count for that statement period and they would charge interest even though a payment was made by the XXXX of the month. I did have a cash advance loan. I paid the amount in full about a week later in XXXX. XXXX would reallocate my payments in such a way to keep loans alive and to generate interest. There is no way for the consumer to direct the paymetns. They claimed you could with the chat feature but multple chats they did not So I was charge interest after payments during a billing cycle and fees for not paying during a billing cycle when I did make a payment within the cycle. I made payment for a statment dated XX/XX/22. XXXX made XX/XX/22 and XX/XX/22 were not counted as payments for the interst and fees charged XX/XX/22. This has occurred agaian and again. XXXX claims it takes two billing cycles for a payment to show. XXXX says synchoncity bank handles their payment plans but synchronity still advertsies XXXX
Frequently Asked Questions
What is Complaint #6302475 about?
Complaint #6302475 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 2022-12-09T12:00:00-05:00.
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.