Credit card -- Fees or interest -- Complaint #8766734
Complaint Overview
Complaint ID: 8766734
Company: Synchrony Financial
Product: Credit card
Sub-Product: Store credit card
Issue: Fees or interest
Sub-Issue: Problem with fees
State: New Hampshire
ZIP Code: 030XX
Date Received: 2024-04-13T12:00:00-05:00
Date Sent to Company: 2024-04-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Concern # 1 : Alteration of previous purchase agreements ; change to promotional offer to include extra fees that did not exist when credit was lent which will be applied against purchases prior to change ; specifically : " We are adding a 2 % Promotional Fee to your account... This fee may be applied to any part of a purchase that was initially made before the effective date of this notice but that posts to your account after the effective date... The following Promotional Fee terms will be added to the How Fees Work provision of your existing agreement. '' " Promotional Fee. We will charge this fee, which may be referred to as a promo fee, for promotions 18 months or longer with no interest and required equal payments. The promotional fee will be calculated based on the total promotional transaction amount, including taxes, deliver and other applicable charges. The promotional fee will be included in your promotional purchase balance used to calculate your required equal monthly payments. '' This appears deceptive in practice to apply to purchases after the date of sale, which could not be considered when making the decision to utilize the credit offer. Concern # 2 : Charges for paper statements if chosen in lieu of electronic communications ; specifically : " We are adding a {$1.00} monthly Paper Statement Fee to your account. We will charge this fee as described below... The following Paper Statement Fee terms will be added to the How Fees Work provision of your existing agreement. '' " Paper Statement Fee. We will charge a {$1.00} monthly Paper Statement Fee to your account. We will charge this fee in any billing cycle in which your balance is greater than {$2.00} and you are sent a monthly billing statement in paper form, even if you also are provided it in electronic form. You can avoid the fee each billing cycle you are provided your monthly billing statement only in electronic form. '' This describes an unfair fee for individuals without access to electronic mail, or those who are unable to access, read, or operate electronic devices due to an illness, disability, or other impairment. This may also violate multiple state or federal laws that protect these types of consumers. No remedy is provided for these types of consumers to avoid the impact of these fees due to their inability to access or read documents in electronic form, without impacting their continued utilization to the account due to rejection of the changes.
Frequently Asked Questions
What is Complaint #8766734 about?
Complaint #8766734 was filed against Synchrony Financial regarding Credit card specifically about Fees or interest. It was received by the CFPB on 2024-04-13T12:00:00-05:00.
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) 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.