Credit card or prepaid card -- Getting a credit card -- Complaint #6437298
Complaint Overview
Complaint ID: 6437298
Company: Synchrony Financial
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-Issue: Delay in processing application
State: Iowa
ZIP Code: 52403
Date Received: 2023-01-15T12:00:00-05:00
Date Sent to Company: 2023-01-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XXXX I applied for a sams club mastercard issued by synchrony bank. When I applied for the card I received no response or indication of approval or denial. On XXXX I called synchrony bank and explained I had applied for the sams club card and received no information on a status of my application and was not notified electronically or anything. Their online app just took my information and that was it. The rep at synchrony said because I had " fraudulent activity in my history '' ( which i have no idea what that even means as their has been absolutely no fraud activity on my credit report or any or financial account ever ) that I was required to submit to an identity verification process via my mobile phone to approve the account. i agreed and did their very bizarre verification request. After I was done with that they approved the request and opened the account. However it was very strange, as I have very good credit and no mad mark on my credit and I am not in a lot of debt, they gave me a very small line of credit but what really took me back is they assigned a ridiculously high interest rate to me. Like a predatory high XXXX some percent interest rate. This makes absolutely no sense as at the time of applying I had over a XXXX credit score. Fast forward to 1 week later I receive a letter in the mail ( file attached ) saying they didn't assign the best interest rate to me because of my credit. On the letter it states my credit is a XXXX based on XXXX. Anything above 750 is consider top tier credit so exactly how could I not qualify for their best rate based on my credit as my credit is nowhere near poor, it's quite the opposite. I have attempted a few times to call synchrony and question this as it doesn't seem right at all. They bounce me around on calls, won't address my questions, seem annoyed at the fact that I am questioning being charged in interest rate typically reserved for poor credit which I don't have and they just generally seem very against helping or answering me at all. Even after I point out the very letter they sent to me contradicts itself and proves my credit is very good they just wont address the issue. I have talked to 4 other people who have this very card and were very taken back by the process I had to go through let alone the treatment I am receiving. I even talked to sams club and they also confirmed the process I had to go through is unheard of and very odd. This to me seems to be very discriminatory on synchrony 's part as there is no justification for the poor treatment, credit rate/line. I should be afforded the same rates and line of credit as others in my credit rating category and I am not.
Frequently Asked Questions
What is Complaint #6437298 about?
Complaint #6437298 was filed against Synchrony Financial regarding Credit card or prepaid card specifically about Getting a credit card. It was received by the CFPB on 2023-01-15T12:00:00-05:00.
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 (Credit card or prepaid card) 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.