Credit card -- Advertising and marketing, including promotional offers -- Complaint #8954106
Complaint Overview
Complaint ID: 8954106
Company: Synchrony Financial
Product: Credit card
Sub-Product: Store credit card
Issue: Advertising and marketing, including promotional offers
Sub-Issue: Confusing or misleading advertising about the credit card
State: California
ZIP Code: 94133
Date Received: 2024-05-07T12:00:00-05:00
Date Sent to Company: 2024-05-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Last XXXX I purchased a Mattress from MattressFirm. The store clerk convinced me to sign up for a MattressFirm credit card, which ( as he stated ) " offers XXXX interest rate! just pay the minimum! '' Unfortunately I don't have very much experience with this, so I agreed to this offer. Next thing I knew, I received a welcome package from Synchrony Bank ( who I had never heard of ) with mounds of paperwork. I created an account online and setup autopay, which simply ran every month in the background. I checked every now and again but never saw any changes to statements and was never contacted by them. Today, I received an email from Synchrony stating " Terms had Changed. '' When I looked, I noticed I'd been charged immense interest - starting XX/XX/XXXX with an interest fee of over {$650.00}. I was shocked to see since then they had begun charging interest with XXXX communication besides " a small red callout in your statement. '' I communicated with the company and spoke to a manager about why I was informed of a terms change but not a massive interest rate hike from XXXX to nearly 30 % and she said I should've checked my statement as " it's the only way we can communicate with you. '' When asked why I received the email about the terms changing and not the sudden {$650.00} charge, she simply said it's my responsibility to check my statement. While I don't disagree, the fact that they had the means to inform me of an expiring promotion and chose not to is beyond predatory. Now I need to quickly figure out how to pay this whole bill off before the interest balloons ( as it has been for the past several months ).
Frequently Asked Questions
What is Complaint #8954106 about?
Complaint #8954106 was filed against Synchrony Financial regarding Credit card specifically about Advertising and marketing, including promotional offers. It was received by the CFPB on 2024-05-07T12:00:00-05:00.
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.